Estate Planning Decisions:

 

 

  1. Funeral arrangements- Burial vs. cremation Prepaid and funeral plots

 

  1. Guardians for minor children

  2. For Wills- Who will serve as Personal Representative?   Who will serve as an Alternate?  (Note:  In the State of Florida, it must be either a family member; a Florida resident, or a trust company licensed in the State of Florida).

 

  1. For Trusts-   Who will serve as Trustee?   Who will serve as an alternate?   A Trustee is responsible for administering and managing the trust, investing the assets and disbursing the trust fund for the beneficiaries in accordance with your wishes/directions as stated in the trust.

 

  1. Tangible Personal Property (Automobiles, Furnishings, Jewelry, Collections, etc.)-  Who gets it?

 

  1. Specific gifts to Individuals and Charities (How much- specific dollar amount or percentage?  If going to a charity, for what purpose?)

 

  1. Residuary Estate (what’s left). – Names and addresses of beneficiaries,  Will they receive their share outright, or will it stay in trust?   Are there any terms and conditions for the distributions from the trust (ex. Education only, general- health, maintenance, support)?  Also consider ages for the distributions.  If a beneficiary’s share will continue in a trust- who will serve as trustee?

 

  1. Special Circumstances to Consider

  • 2nd marriage

  • Are any beneficiaries (children) divorced, or contemplating a divorce?

  • Are any beneficiaries individuals with a special need (developmental disability) for which they would be entitled to governmental benefits?

 

Founded in 2010, Andrew Hill Investment Advisors, Inc. is registered as an investment advisor with the state of Florida and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Please contact Andrew Hill Investment Advisors, Inc. if there are any changes in your financial situation or investment objectives, or if you wish to impose, add or modify any reasonable restrictions to the management of your account.   Our current disclosure statement is set forth in Part II of Form ADV and is available for your review upon request.  Tax and estate planning advice is general in nature and the firm is not engaged in the practice of law.

Invest responsibly – responsibleadvisors.com

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