8 Decisions To ConsiderAs you embark on your estate planning, the questions below and corresponding videos are there to help you with your decision making.
What to Expect at Your Deep Dive Meeting
We will do a deep dive into your estate planning questionnaire, your financial and estate planning goals, and talk about other information that will help create your estate planning documents.
Below are some of the things you should think about before we meet;
1. Who do I want to receive my assets (money, home(s), land, investments, business, tangible personal property, other)?
2. Who do I trust to manage my assets and distribute them according to my wishes? (This person is referred to as an Executor/Personal Representative or Trustee.)
3. Should my children receive their inheritance outright, at a specific age(s) or should it be managed for their benefit for their lifetimes? (Keeping assets in trust may provide asset protection from their creditors and minimize death taxes.)
4. Is there a charity or another individual I would like to benefit? Are there any restrictions that I want to place on such gifts? Do I want to make a gift of tangible personal property (e.g., jewelry, artwork, antiques, collectibles, automobiles, boats, memorabilia, firearms, etc.) to one or more individuals or charities?
5. If my spouse remarries, should my spouse continue to benefit from my estate? Or should the assets go to our children? If my spouse remarries, should someone other than my spouse serve as a co-trustee with my spouse over trust assets to ensure the assets are preserved for my children or other heirs?
6. If none of my family members survive me, are there other more distant family members and/or friends or charities that I would like to receive my property?
7. Who is the person I trust to make health care decisions for me if I am unable to do so (known as the Healthcare Agent)? What medical treatments do I want or not want?
8. Do I want to remain in my residence or go to a nursing home or assisted living facility if I am unable to care for myself?
Our team at Zell Law assists clients in Reston and throughout Northern Virginia, Maryland, the D.C. metropolitan area, and nationwide. Our attorneys have over 35 years of legal experience, and our founder, Wayne M. Zell, Esq., has served as a certified public accountant (CPA) for more than 40 years. Our firm operates as a one-stop-shop for business leaders, executives, and entrepreneurs throughout the United States. We operate at the intersection of business planning, tax planning, and estate planning and can provide you or your company with comprehensive legal guidance and advice. Meeting your needs is our top priority, and we are committed to adding measurable value to your life or commercial enterprise.
Schedule an initial consultation with our team by contacting us online or calling (571) 410-3500.