Estate Gifts

It is recommended that your estate plan should be reviewed and updated periodically. Here are some important areas that should be considered:

• Do you have a current will or living trust drafted by a qualified attorney? If you don’t have a will make an appointment with an attorney.
• Do you review and update your will every 1 to 2 years?
• Have you named an executor in your will and notified that person?
• Have you written the “Laundry List” of personal items and who should receive them? There is often more conflict in families about these items than about financial assets.
• If your estate is valued at more than $5,450,000, an estate tax return must be filed. Have you made arrangements for minimizing federal estate taxes?
• Is your life insurance adequate for you and your family’s needs?
  Are all the beneficiary designations up to date?
• Do you have beneficiaries who require special care?
• Have you established a durable power of attorney in case you become incapacitated?
• Does your will name a guardian for any minor children you may have?
• Take a few minutes - to pray and write down the names of loved ones, people and institutions, including your parish, you hold dear. Have you made any provisions for them in your will?
• Do you have a living will or health care power of attorney?

Should you have any questions, consult your financial advisor or attorney.