The $$$ Maker Report
Bi-Monthly Investments Newsletter by Karl
Jung, CLU NOV/DEC 1997
Gibsons
office: (604) 886-2691 Cellular: (604) 760-9899 Fax:
(604) 886-3014 kjung@dccnet.com
The 30 Most Important Things
About Your Will
We all know that wills are important. Here's a list of
some relevant points that should be addressed in your family's will:
1. Have you had any additional children since you drew up your will?
2. Do you or your spouse have children from a prior marriage?
3. Do you have a disabled child?
4. Have you named a guardian for any minor children? If so, is your choice still a good one? Do you have an alternate choice?
5. If your children are grown, do you want them to inherit equally?
6. Have your objectives changed?
7. Are there any charitable bequests you would like to make?
8. Is the person you named executor still a good choice? Have you named an alternative?
9. Have you named a trustee? Is that choice still a good one?
10. Has there been a change in your marital status since you drew up your will?
11. Have you gone into business? If so, is it a corporation or partnership?
12. Are your assets worth more now than when you first drew up your will?
13. Have you moved to another province or country since your will was drawn?
14. Do you own property in another province or country?
15. Are you in line for a substantial inheritance? Is your spouse?
16. Will your inheritance(s) include property in another province or country?
17. Do you want to avoid the probate process?
18. Will your estate have to pay estate taxes? If so, do you know how much?
19. Is there enough cash in your estate to pay off its debts and taxes?
20. Will there be enough cash to take care of the ones you want to take care of?
21. Have you or your spouse experienced a decline in health since your will was made?
22. Are there relatives that you want to make certain do not get any of your property?
23. Have you provided for a handwritten list of bequests? Is it current?
24. Does your will have a "Common Disaster" clause for both you and your spouse?
25. Is your life insurance beneficiary coordinated with your estate plan?
26. Is your life insurance creating an estate tax problem?
27. Have the tax laws changed since your will was made?
28. Do you want to make a "Living Will" and/or directive to physicians?
29. Do you understand your will?
30. Have you forgotten what your will says?
