Peace of mind for you and your family can be greatly enhanced by just getting your “ducks in a row”.  Here is our suggested checklist of specific things that will help to get the process started:

o   Determine your current and estimated down-the-road needs, including retirement and the possibility of disability.

o   Make a list of your assets-including cost basis, current fair market value and how they are owned (separate property, joint property, tenancy by the entirety, tenancy in common, community property).

How much income do they pay?

Do they provide a hedge against inflation? Should they be held or sold?

o   List your debts, including potential estate taxes (once the law is known), and the assets your estate will use to pay them.

o   Decide on what you wish to pass on to others. Consider the strengths and weaknesses of potential beneficiaries and their current and future needs. Also consider creditor protection concerns.

o   Charitable gifts during life and by will are an important part of many estate plans. So are charitable plans that pay you and others life income before the charity gets the gift. You'll find that the tax laws enable you to be a philanthropist at wholesale cost.

o   Determine who would be appropriate fiduciaries--trustees, executors, guardians for minors, holders of powers of attorney.

o   Consider the pros and cons of transferring some assets during your lifetime.

o   Plan for the continuation, sale or transfer of a business with minimum erosion by taxes and mismanagement.

o   Maintain an up-to-date will, or living trust, that will carry out your wishes and minimize administration expenses and taxes on your estate.

o   Review your life insurance and pension plans, including beneficiary designations and payment options.

o   Be sure to have a current living will (directive to physicians).

o   Maintain an up-to-date durable Medical Power of Attorney (sometimes called a health care proxy) that empowers the named person to make health care decisions for you if you are incapable of doing so yourself.

o  Maintain an up-to-date General Durable Power of Attorney that empowers the named person to make financial decisions for you if you are incapable of doing so.