Most people when faced with this question or whether they have an “estate” would be surprised to learn that they do have an estate and would benefit from this important estate planning tool. General Rule: If you have an estate valued at over $100,000 you should have a trust.

Definition of “Estate” Includes:

1. Value of all Real Property Interests
2. Time Shares
3. Boats, Cars and Other Personal Recreational Vehicles
4. Business interests including partnerships, sole proprietorships, corporations, LLP and LLC interests
5. Value of all Brokerage, Corporate Stocks, Corporate Bonds, Mutual Funds, Treasury Bills, and Savings Bonds
6. Retirement Assets including: IRA, Keogh, 401(k), 403(b)Qualified Plan, Employer Plan, Deferred Comp, Annuity, Pension Plan, Roth IRA
7. Value of all Insurance Policies – Whole and Term
8. Amounts in Checking, Savings, CD’s, Money Market Accounts
9. Value of Notes and Deeds of Trust
10. Personal property including clothing, furnishings and other household goods.

Reasons for Planning:

1. Avoiding probate
2. Minimizing estate taxes
3. Self-directed distribution of wealth to heirs
4. Proactive management of health and assets in the event of incapacity.

Downloadable forms

• Estate planning worksheet
• Estate Planning Presentation