Issues to consider in developing an estate plan:
- Preference for probate (Will) or non-probate (Revocable Living Trust);
- Taxability of your estate and options for reducing or avoiding estate tax;
- Choice of executor(s) and alternate;
- Choice of trustee(s) and alternate;
- Choice of custodian(s) of your remains and alternate;
- Your wishes for disposition of your remains;
- Your wishes for distribution of your estate if:
- Your spouse does or does not survive you;
- Your children all survive you or one or more does not survive you;
- All children or grandchildren are adults or one or more is a minor;
- All children or grandchildren are abled or one or more is disabled;
- Your spouse is healthy or needs long term care;
- Your wishes for distribution of certain types of assets:
- Jewelry or collectibles;
- Other household contents;
- Vehicles;
- Real estate;
- Savings and investments;
- Life insurance; and
- Retirement assets;
- Choice of Attorney(s)-in-Fact and alternate (under Power of Attorney);
- Choice of Health Care Representative(s) and alternate;
- Wishes regarding withholding of life support treatment if terminal, etc., Living Will; and
- Wishes regarding organ donation upon death.
