Estate Planning Report Card

The following checklist includes a series of statements about your current estate plan. By completing it, you can figure out a grade for your current estate plan. The lower your grade, the more urgent is the need for you to meet with an estate planning attorney.

Completion Instructions:

If a statement is true, or if the statement does not apply to you, write a “1” in the Points column below it. For example, if you do not have minor children, then the statement “My Will nominates a guardian for my minor children that I can trust” does not apply to you, and you should enter a “1” below it.

If you are not sure whether a statement is true, or you are not sure whether it applies to you, leave the Points column below it blank.

Refer to the Scoring Instructions at the end of this Report Card to find out your grade.

1. I have an estate plan that I created or have reviewed with my attorney within the last two years.

2. I know that my current estate plan will let me avoid probate for all or nearly all of my property.

3. None of my estate planning documents name an ex-spouse as beneficiary or give an ex-spouse any authority.

4. None of my estate planning documents refer to property that I have sold or given away, AND my Will or living trust already accounts for new property that I have received.

5. I know that my current estate plan provides protection for what I leave to my spouse and my children against future divorces, remarriages, taxes, and creditors.

6. My children are not joint tenants with me on my bank account or real estate.

7. I have a Will.

8. My Will names an executor that I can trust.

9. My Will includes my current spouse and all my biological and adopted children.

10. My Will nominates a guardian for my minor children that I can trust.

11. I understand and am happy with how my Will divides my property.

12. I have a living trust.

13. My living trust provides clear and specific instructions for what happens if I become disabled.

14. My living trust names a successor trustee that I can trust.

15. My living trust includes my current spouse and all my biological and adopted children.

16. I understand and am happy with how my living trust divides my property.

17. I have funded my living trust, and all trust property is held in the name of the trust, not my own name.

18. I have a durable power of attorney (DPOA) appointing an agent to make financial decisions for me if I become unable to do so.

19. My DPOA names an agent that I can trust.

20. I understand and am comfortable with all the powers that my agent can exercise under my DPOA.

21. I have an Advance Health Care Directive (AHCD) appointing an agent to make health care decisions for me if I become unable to do so.

22. My AHCD names an agent that I can trust.

23. I understand and am comfortable with all the powers that my agent can exercise under my AHCD.

24. I have made end-of-life instructions clear in my AHCD, and I am happy with those instructions.

25. I have planned for how my family will pay for long-term care for me (e.g., care in a nursing home) if I become disabled and need it.

26. I am happy with my current beneficiary designations on my life insurance.

27. I am happy with my current beneficiary designations on my retirement accounts.

Total

Scoring Instructions:

Take your total above and look at the table below to determine your grade:

Your Total Score	Your Letter Grade
24-27	A
20-23	B
15-19	C
10-14	D
0-9	F

What Does My Grade Mean?

The grade from the above table represents how urgent is the need for you to meet with an estate planning attorney. A low grade doesn’t necessarily mean that you need to change anything with your estate plan, but it means that you should have a knowledgeable attorney review it with you.

Similarly, a high grade doesn’t necessarily mean that you shouldn’t change anything about your estate plan, but it does suggest that you’ve worked closely with an attorney in the recent past, understand what your estate plan does, and that you are happy with it.

Project Description

Estate Planning Report Card

Completion Instructions:

Scoring Instructions:

What Does My Grade Mean?