Estate Planning Questions That May Make You Uncomfortable
Your estate plan is intended to be an individual, and highly personal, set of documents. Your estate plan decides some of the most important issues and makes some of the most important determinations that you will make in your lifetime. When you sit down with your estate planning attorney to work on your estate plan,be prepared for some questions that may make you rather uncomfortable.
Although they will likely make you uncomfortable,they are being asked for good reason and should be answered honestly.
Have you been diagnosed with a terminal illness?Much of an estate plan is based on actuarial tables that tell your attorney how long you are likely to live.If you know that you are not likely to live that long,your attorney needs to know.
Are there any hidden descendants?People choose to hide,or fail to reveal,prior born children for various reasons.They are,however,heirs of your estate and could change all of the terms of your plan if they are not accounted for in your estate plan.
Are there any other important relationships in your life?This is often a delicate way of asking if you have a same sex partner.Most laws do not account for a same sex partner.If you wish to protect your partner in your estate plan,your attorney needs to know.
Are you keeping genetic material on ice?This is becoming more and more common in the United States. If you have any genetic material that is currently frozen,that means you could theoretically have children born after your death.Do you wish to plan for them in your estate plan?
What if everyone close to you dies at the same time?No one wants to think about this possibility,but it does exist.Make sure you plan for the possibility in your estate plan.
Have you been supporting anyone outside your immediate family?This support could be included in your lifetime gifts calculation and could have tax implications.
Donít let any of these questions stump you,or give your pause, when planning your estate.Make sure your attorney knows everything that he or she needs to know to create a comprehensive estate plan.
ABOUT THE AUTHOR: John Roger_Burk
Experienced estate planning attorneys Roseville CA of the John Rogers Burk, A Law Corporation offers estate planning and business planning resources to residents of Roseville CA.
Copyright John Rogers Burk, A Law Corporation
More information about John Rogers Burk, A Law Corporation
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.