Fall 1994

Was this the year you were going to get your estate and tax planning in order? Two-thirds of the year is past, so now's the time to take action. The following, brief checklist is offered as a device for getting you started:

1. Does your Will meet your family's present needs?

2. Do you have a Durable Power of Attorney, to provide for continued management of your affairs in the event of disability?

3. What is your attitude toward artificial life support? If you do not want it for yourself, have you executed a Health Care Directive?

4. Have Nonprobate Arrangements (such as Community Property Agreements, life insurance and retirement plan beneficiary designations, and joint tenancies) been checked to make sure they conform to the desires expressed in your Will?

5. Is your estate (including retirement benefits and proceeds of life insurance) over $600,000? If so,

(a) Have Trust Wills been executed to reduce estate tax?

(b) Have you considered a tax-saving program of gifts to family members?

(c) Have charitable gifts been considered?

6. Does your estate include an interest in a family business? If so,

(a) Have estate tax reduction possibilities been reviewed?

(b) May the payment of estate tax be deferred?

(c) Have steps been taken to ensure succession of control?

If you'd like to discuss this or any other aspect of your estate planning, please call the attorney with whom you work, or any of the members of our Trusts & Estates Group. Thanks.

Best wishes for a happy and profitable Fall.