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CHAPTER 18 n KEEP YOUR PLAN CURRENT
6. Have there been any major changes in your inances or personal circumstances?
a. No
b. Unsure if changes are considered major c. Yes
7. Are you expecting a big increase in your net worth?
a. No
b. I don’t know c. Yes
8. How important is it for you to minimize estate taxes?
a. Unimportant
b. Somewhat important c. Very important
0 points
6 points 10 points
0 points 3 points 5 points
0 points
5 points 10 points
a. No
b. Unsure c. Yes
0 points
5 points 10 points
11. Do you live in a state that has an estate or inheritance tax?*
a. Yes 10 points b. No 0 points
Score:
<20 You may not be signiicantly affected by the $5.43 million exemption.
21-50 You should consider a review within the next few years. >51 See your estate planning lawyer at once.
*These states are: Connecticut, Delaware, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont and Washington, as well as the District of Columbia.
9. How important is it for you to protect inheritances from creditors?
a. Unimportant
b. Somewhat important c. Very important
0 points
5 points 10 points
10. Does your will provide for a credit-shelter (bypass) trust or a generation-skipping trust?
303