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                                                                                    1250 E. Sherwood Drive

                                                                                     Grand Junction, Colorado 81501

                                                                                         Phone: (970) 243-8250  ♦  Fax: (970) 241-1144


                                                 Baird B. Brown             Clara Brown Shaffer              Shauna C. Clemmer                    Daniel F. Fitzgerald


                                  "Accumulating wealth is one thing. Preserving it is another. Let our family help yours."                                                                                                                                                                         

Special Report

When Should I Review my Estate Plan?

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Is it time to review or update my estate plan?  Answering "YES" to any of the statements below likely indicates a review of your current estate plan is in order. Please call us at (970) 243-8250 to schedule an appointment.


My Estate Plan:

___ I need more information to understand what trusts (revocable, irrevocable, charitable trusts and other types) might be available to meet my estate planning goals. I would like to know how the latest tax laws affect my estate plan.

___ Although I currently use a revocable trust as part of my estate plan, I need assistance to ensure my assets are properly titled and my beneficiary designations are set forth as they should be.

___ It has been some time since my estate planning documents were reviewed and I am concerned they may have been changes in the law which might impact how my estate is to be distributed.

___ I have one or more of my children’s (or other intended heirs) names on my house or cash accounts and I am not sure if this is how they should be set up to ensure my bills can be paid if I become incapacitated.

___ My financial or medical power of attorney is over 5 years old.

Marital Situation:

___ My marital status has changed.

___ A second marriage is on the horizon, and I am in need of ensuring my new spouse and my intended heirs are cared for in the future and there is no fighting amongst them.

___ It is too late, I am already married, but want to do what I can to avoid a fight amongst my spouse and my children.

___ A member of the family who is an intended heir has become divorced or separated since our last review and I am concerned about leaving them an outright distribution.

Special Bequests:

___ I would like to make specific bequests to individuals not presently included in my plans or delete the names of one or more persons (or charities) currently named.

___ I would like to change the amounts of some of the bequests I have made, either because my estate has increased or decreased in size.

___ I no longer own a specific asset mentioned in my will or trust.

___ I would like to make a gift during my lifetime and need advice on how best to structure the gift to ensure the gift does not create tax problems and is used in way in which I intend it to be used.

___ My pet is important to me, and I want to ensure if it survives me it is taken care of in the manner of my choosing.

___ I would like to discharge an obligation owed to me by canceling the loan in my will.


Change in Valuation of my Estate:

___ The value of my estate has changed in the last few years and may be subject to estate taxes.  

___ My estate is over $1,000,000 in value and I am concerned about estate taxes that may have to be paid, due to the fact I am likely to live beyond 2025, and the estate tax exclusion may decrease at some point resulting in more taxes needing to be paid.

Asset Protection for my Heirs:

___ One or more of my heirs has a creditor problem or is not good with money and I am concerned any inheritance will be lost to creditors.

___ Divorce could be on the horizon for one of my heirs and I want to protect any inheritance I might give to my heir (likely a child) to insure it will ultimately end up in the hands of my grandchildren.

Provisions for Children/Grandchildren:

___ I have a child or heir who has become handicapped or seriously injured since our last review.

___ One or more of my children or heirs receives SSI or Medicaid.

___ I wish to ensure assets are held for the benefit of a child or heir to use for educational or other specific purposes.

____ Rather than making an outright distribution to my heirs, I wish to hold their distribution in a trust to protect it from claims of their creditors, spouses (in the event of a divorce), or my heir’s own bad judgment.

___ My desires regarding the ages at which I originally provided for the disposition to my children has changed.

___ A child, grandchild, etc., has been born (or adopted) since our last review.

___ I would like to provide a clause to equalize gifts made in the past (or to be made in the future) to certain children.

Life Insurance:

___ I have added (or dropped) more than $50,000 of life insurance since our last review and believe my estate is taxable (likely to be over $1,000,000 in value in 2023 and beyond).

___ I have (or would like to) changed a beneficiary designation on an existing policy.

___ I may need more life insurance, but I don’t know how much to buy or what type to consider.

Assisted and Long-Term Care Costs for Me or My Parents:

___ I am concerned about assisted and long-term care costs and have considered purchasing long term care insurance and may need to visit with someone about this for myself.

___ I believe that I or a member of my family may need to be admitted to either an assisted care or a skilled nursing facility, and I am concerned my or their assets will be depleted in paying for that care.

___ Medicaid and Medicare are confusing, and I am unsure how they might be useful to me in my estate planning.

Gifts to Minors or Charities:

___ I would like to make substantial gifts to minor children (more than $17,000.00 per minor child).

___ Gifts to my grandchildren are important and I would like to provide for their secondary education.

___ I would like to add (or delete) one or more charitable beneficiaries or change the amount of my bequest.

Business Interests:

___ I have entered into a stock (partnership) buy-sell agreement since our last review.

___ My business situation has changed significantly since our last review.

Guardian, Agents, Executors, and Trustees:

___ I would like to change the person or order of persons I have named as my personal representatives, successive trustee or agent acting under my medical or financial power of attorney.

___ I would like to name a particular person as advisor to my personal representative and trustees.

___ I would like to reconsider the designation of the guardians, agent under a power of attorney or health care proxy, personal representative, and/or trustees I have named.

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