By Executor's Resource, Inc.
Do you work with a financial advisor? If he or she hasn't already brought up the topic, it's time to discuss estate and legacy topics with him or her at your regular meetings. The questions below can serve as a guide of discussion points to cover when you meet.
1. What are key considerations in selecting an executor, personal representative or trustee?
2. Do you offer any centralized information of all the accounts I have with you?
3. Can I list you as a key contact and direct my executor/personal representative to you in the future when he has questions?
4. Are there any of my accounts that need additional features added – transfer on death instructions; duplicate statements; automatic bill pay or wire instructions – to make it easier for my executor/personal representative?
5. When did I last update my beneficiary designations? Can you give me copies of every beneficiary designation form so I can keep them all in one safe place? Or can I just direct my executor to contact your office?
6. (If applicable) I recently set up a trust for certain assets. Can you help me with any requirements to retitle my accounts so they are consistent with the trust?
7. Can we meet about setting up more appropriate estate planning accounts – Conversions to a Roth IRA? Rolling over my former employer 401(k)s?
8. Can we discuss insurance options that I should be thinking about to protect my family once I’m gone – life insurance, long-term care, disability, etc.?
9. Can we review the options I have in my employer’s pension plan and decide on best choices for me and my spouse?
10. What information/ resources do you have about dealing with older parents who need to do their own legacy and estate planning?
No comments:
Post a Comment