Guide
Legacy and transfer review guide
Most estate plan failures are found in this list, not in the drafting.
Documents
- Is your will current with your circumstances and your state of residence.
- If a trust exists, has it actually been funded with the intended assets.
- Are financial and healthcare powers of attorney in place and current.
- Have documents been reviewed since your last major life change.
Designations and titling
- Have you reviewed beneficiary designations on every retirement account and policy.
- Are contingent beneficiaries named.
- Does account and property titling match what your documents assume.
- Are there accounts still in a former employer plan that have been forgotten.
Liquidity
- Could settlement costs, debts and taxes be paid without selling a core asset.
- If a business or property is intended to stay in the family, is there cash to make that possible.
- Have you considered heirs who will not receive a specific asset.
People
- Do your executor and trustee know they were named, and are they still appropriate.
- Does your family know the plan and the reasoning behind it.
- Is there a record of accounts, advisors, policies and passwords someone could actually find.
Important disclosure
This content is general education, not legal, tax or investment advice, and not a recommendation of any specific product. Suitability depends on individual facts, product terms, issuing company strength and current law. Consult your own licensed legal and tax professionals before acting.
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