The Good Life | June 2021
Client meetings can now be held in-person in our Marysville or Dublin offices.
Meetings are also still available online or via phone, if preferred.
Our lobby is open from 8:00AM – 5:00PM for those who may need to
drop-off or sign paperwork.
A 7-Point Checklist for Your Estate Plan
Presented by McCarthy & Cox

When it comes to estate planning, executing your will and other estate documents is only the first step. To help ensure that your estate plan stays in tune with your goals and needs, it’s important to review and update it on an ongoing basis. Working with your financial advisor and attorney, use this checklist as a starting point to keep your estate plan in good shape. 
1. Check trust funding. Trusts are often used to preserve privacy, minimize estate taxes or administration expenses, or transfer assets to beneficiaries according to specific wishes. If you have executed a trust, consult with your attorney and financial advisor to determine which assets should be owned by your trust or should have the trust named as a beneficiary.

2. Account for any life changes. Have you experienced personal or financial changes since you executed your estate documents—for instance, the arrival of a new family member or a significant increase in assets? If so, be sure to update your documents to reflect those changes and take advantage of asset protection measures, if necessary.

3. Update beneficiary designations. Outdated beneficiary designations can derail an estate plan. Review your designations to ensure that the correct people are named, rather than a deceased family member or ex-spouse.

4. Review trustee and agent appointments. While reviewing your beneficiary designations, also reevaluate who you have appointed as executor of your estate, trustee of your trust, or as your agent under your powers of attorney for health care and finances. Are the people you named still ready to carry out your wishes? Will they be capable of administering your assets in an appropriate manner?
5. Review provisions of powers of attorney and health care directives. Ongoing changes to federal and state laws won’t necessarily invalidate a document that’s already been executed; however, such changes may limit your agent’s ability to carry out his or her duties. For example, changes to privacy laws may prevent your agent from accessing pertinent medical information. To accomplish your planning goals, it may be necessary to expand your agent’s authority.

6. Prepare for the distribution of personal effects. If your will includes directions for the distribution of your personal effects, consider informing your executor or administrator ahead of time and providing him or her with a copy of the list.

7. Understand your documents. Ask your attorney and financial advisor as many questions as necessary to ensure that you have a clear understanding of each document in your estate plan.

Were you unable to attend our recent webinar where we heard from
Faye D. Cox, Managing Partner at Schulze, Cox & Will, about the Fundamentals of Estate Planning?

FREE Social Security Webinar
Social Security: Five things you need to know
Wednesday, June 9 | 12:00PM - 1:00PM EST
Join us as we hear from
Megan McCarthy Collins, CFP® and Ryan Mickelson, CFP®, AIF®

  1. Learn why it might pay to delay.
  2. Learn why/how to plan for your surviving spouse.
  3. Know there are special rules for divorced & widowed individuals.
  4. Learn there's a good chance benefits will be taxed.
  5. Know pension income may reduce benefits.

Get you questions answered by experienced CERTIFIED FINANCIAL PLANNER™ professionals at the close of the webinar!

Ryan, a CERTIFIED FINANCIAL PLANNER™ professional, joined the McCarthy & Cox family in September 2009. One fact you may not know about Ryan is his dream hobby is falconry (hunting with a hawk or falcon).

Megan, a CERTIFIED FINANCIAL PLANNER™ professional, joined McCarthy & Cox in 2017 and has over 10 years of industry experience. Her favorite childhood memory is visiting her grandparents at McCarthy Pharmacy.

  • You must register for the event in advance.
  • Registration is LIMITED!
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Securities and advisory services offered through Commonwealth Financial Network, member FINRA/SIPC, a Registered Investment Adviser.