Year End: Time to Inventory Your Legacy
Department stores aren’t the only ones who should take stock with a year-end inventory. Maintain your will’s currency by answering the following questions and updating as you see fit:
1. Are you and your family aware of where your will and living trust can be found?
2. Are your executors, trustees, and the guardians of your children living and capable of carrying out their duties?
3. Do these trustees, friends, and professionals know about all your assets and financial obligations?
4. Are your wishes regarding asset distribution still valid?
5. Have there been any major tax changes that would adversely affect the settlement of your estate?
6. Have your minor children been financially provided for as needed?
7. Are the people you intend to benefit still alive and in need of your help?
8. Have you considered remembering your charitable interests with a gift?
Put these questions on your end-of-year calendar and pay close attention to planning ahead and providing for loved ones.
For more information on answering these questions, please call the AARP Foundation at 1-800-775-6776 or e-mail us at plannedgiving@aarp.org. We would be pleased to provide a free wills kit to help you get started. Our staff is ready to assist you in preparing your will and in taking important steps toward leaving your household in order.
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