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End-Of-Year Giving Checklist

The holidays are upon us...2013 is right around the corner. Questions still remain about what Congress will do about the gift tax exemptions, but there are some things we know for sure...there is still a lot to do before December 31st! Here is a great Estate Plan Checklist of things to check on.

Address Tax Items

  1. Charitable Donations
  2. Non-Charitable Donations
  3. Retirement Account Contributions
  4. Education Savings Plans (529 plans, etc.)
  5. Capital Gains/Losses
  6. Trust Administration (distributions/contributions)

**Consult your CPA or Financial Planner to receive specific tax implication information.

Estate Plan Review

  1. Beneficiaries
    1. Who are they?
    2. Do they need to be changed?
  2. Life Insurance Policies
    1. Are premiums paid for the year?
    2. Is amount still adequate? Have any policies lapsed?
  3. Estate Plan Documents
    1. Does your plan need updating?
    2. Does your executor know where your documents are stored?
    3. Do specific gifts still exist (car, house, etc.)?
    4. Have there been any life changes (births, deaths, marriage, divorce)?
  4. Healthcare Directives
    1. Has there been a change in your medical condition?
    2. Are there changes to your wished regarding treatment?

**For experienced and knowledgeable legal help with your estate plan in Irvine, Orange County, or southern California, contact an Orange County estate planning lawyer at our law corporation today.