No two people’s lives are the same. Our family circumstances, financial circumstances, and desires for our families and finances are unique to each one of us. An estate plan should likewise be unique to your circumstances, often starting with a will. A will can address a broad array of topics and issues. Depending on your circumstances, an introduction to some of the following topics may help you as you work with your estate planning attorney to formulate, draft, and execute your own unique estate plan:
1. Identity of the Testator: Signatures
2. Capacity: Delusional Testator
4. Debts and Creditors
5. Surviving Spouse: Pre-Marital Wills
7. Funeral or Burial provisions
8. Distribution of Real Estate
9. Distribution of Personal Property
10. Types of Testamentary Gifts
11. Ways a Testamentary Gift can fail: Ademption, Abatement, and Lapse
13. Testamentary Gifts to non-U.S. Citizens
14. Charitable Gifts
15. Annuities
16. Beneficiaries: Spouse, Adopted Children, Ex-Spouse, Non-Marital Children
17. The Residuary Estate
18. The Life Estate: One Form of Limiting a Gift
19. Testamentary Trusts
21. Provisions in Case of Disaster: Financial Concerns, Medical Concerns
22. Avoiding Probate Disputes
23. Conditional Gifts
24. In Case a Portion of the Will is Considered Invalid
25. Tax Planning: Inheritance Taxes, Basis in Inherited Property
26. The Personal Representative
27. Administrative Provisions
28. Fiduciary Duties/Powers
30. Attestation
31. Execution of a Will
32. Duplicate Wills
33. Destruction of Prior Wills
34. Codicils
35. Periodically Reviewing the Estate Plan
Image by: Matt Carman