Matriarch Barbara Bush left this life the same way that she lived, with dignity and class. Her end-of-life planning was ample enough to provide clear instructions to direct those around her. Here are 10 takeaways for clients based on what we know about vigilant end-of-life plans:

• Understand Probate
  • Probate can be timely, expensive, and anything that occurs in probate is public knowledge.
• Plan for Contingencies
  • Always have a backup plan in estate documents, such as for when a trustee passes away before the estate author.
• Sentimental Value is Real
  • Some personal items may mean more to a family member than their monetary value suggests.
• Define Palliative Care
  • This type of medical assistance is specified for those with serious illness and focuses on comfort.
• Leave an Account Roadmap
  • Attempt to consolidate unused accounts and list all of them in your estate plan.
• Remember Taxes
  • Though the federal estate tax exemption has been doubled, soon many states may possess a much lower exemption.
• Beneficiary Planning
  • Verify that every type of planning tool – 401k, IRA, insurance policy – has a documented and valid beneficiary.
• Revisit the Plan
  • Life happens, and when it does, confirm that your estate documents are still in line with your wishes.
• Respect the Experts
  • Sometimes the “fill-in-the-blank” wills can lead the best planner astray. Do not discount an expert’s advice.
• Everyone Can Plan
  • You do not have to be rich to need a comprehensive estate plan nor to establish your legacy how you see fit.

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