ESTATE PLANNING QUIZ - Phelps LaClair

1. I want to make sure that my children or other heirs are able to avoid the expense and delay of Probate Court if I become disabled or after I pass away.

TRUE

FALSE

2. The value of my estate, including all real estate, cash, investments, life insurance death proceeds, etc. exceeds $75,000.

TRUE

FALSE

3. If I am disabled and unable to make my own financial and medical decisions, I would like to choose in advance who will make these decisions for me, instead of leaving it up to the Probate Court.

TRUE

FALSE

4. I am concerned about the possibility of a will contest after I die.

TRUE

FALSE

1 out of 3

5. If I die before my spouse, I want to make sure that my spouse is not able to change the estate plan if he/she were to remarry.

TRUE

FALSE

6. I have children under the age of 18.

TRUE

FALSE

7. I want to make sure that the inheritance going to my loved ones is protected from unintended beneficiaries, such as a child’s spouse (or ex-spouse), creditors, or lawsuits.

TRUE

FALSE

2 out of 3

8. I am concerned that after I die the inheritance passed on to my loved ones could be exposed to their spouse (or ex-spouse), creditors, or reckless spending.

TRUE

FALSE

9. I own “high risk” assets such as rental properties or a business, or I am concerned about my exposure to unanticipated lawsuits.

TRUE

FALSE

10. I have an estate plan (such as a will or trust), but it has been more than 5 years since it has been reviewed by an attorney.

TRUE

FALSE

3 out of 3

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- ESTATE PLANNING QUIZ -