SaveMillions Logo

Company InfoContact UsHelp  

Learn... Plan... For Various Life Events!

Life Events
  Finding Your First Job
  Renting a Place
  Having a Baby
  Losing a Job
  Dealing with Divorce
  Dealing with a Disability
  Loss of a Spouse
  Caring for Elder Family
Helpful Tools
  Budgeting for specific baby needs
  Social Security Help when a Family Member Dies
  Social Security Disability Benefits Publication
Check your elder's readiness (and yours) for the future

The following steps are intended to help you in this process:

  • Does your loved one have a will that has been reviewed within the past three years?
    Yes ___ or No ___
  • Do you know where to find all your loved one's financial and legal papers and advisors?
    Yes ___ or No ___
  • Do you know the approximate annual cost of maintaining your loved one's current lifestyle in retirement, and do you know if he has sufficient financial resources to do so?
    Yes ___ or No ___
  • Have you reviewed your loved one's assets to ensure there will be enough cash readily available to pay the estate taxes due within nine months of the date of death?
    Yes ___ or No ___
  • Does the trustee of your loved one's estate have the health, financial insight and willingness to perform the required duties?
    Yes ___ or No ___
  • If you are concerned about the mental or physical health of your loved one, have you considered the use of a durable power of attorney?
    Yes ___ or No ___
  • Have you or your loved one considered the use of trusts as a way to manage and transfer assets to avoid either estate taxation of life insurance proceeds or the hassle of the probate administration process?
    Yes ___ or No ___
  • Depending on the value of your loved one's estate, he has made provisions to fully use the "unified credit" available to shelter his assets from gift and estate taxes?
    Yes ___ or No ___
  • To reduce estate taxes, have you or your loved one considered a formal program to make annual gifts to children and grandchildren?
    Yes ___ or No ___
  • Have you reviewed your loved one's retirement plans, including the plan balances, beneficiary designations and tax consequences?
    Yes ___ or No ___

Give yourself two points for every YES answer.
Total _____

If your score is:
16-20. Things are well in hand. Your loved one (and you) can rest easy. Just be careful to maintain annual checkups.

10-14. On the right track. If you follow through with more estate planning details, you will greatly improve the next few decades.

0-8. Get a grip. Run, don't walk, to your loved one for a heart-to-heart. Then get to a financial advisor.