Your Estate Planning Clean-Up Guide
Is Your Plan Up to Date?
It’s easy to know when to renew your driver’s license or credit card—just look at the expiration date. But what about your estate planning documents? Keeping these current is an essential part of creating the future you envision, but they don’t come with expiration dates.
As you tackle your spring cleaning projects this year, take time to clean up your estate plan as well—the chart below can help.
|Document||What it is||Where to keep it||When to update it|
|Will/Living trust||These documents direct your trustee or personal representative on how to distribute your estate.||In a fireproof emergency kit. You should also give a copy to your trustee or personal representative.||Every 2 to 5 years or immediately after experiencing a life event such as:
|Durable power of attorney||This document allows someone of your choice to carry out financial matters for you in the event of an illness or disability.||In a fireproof emergency kit. You should also give a copy to the person you appointed.||If your relationship with your chosen person changes or if this person predeceases you.|
|Health care proxy and living will||These documents name an individual to make health care decisions if you become unable to do so.||Give copies of the form to your health care provider(s) and the person you named as your proxy.||If your relationship with your chosen proxy changes or if this person predeceases you.|
Are We in Your Plan?
If, as you review and update your plan, you decide to include a gift to Claremont Graduate University, please let us know by contacting Claremont Graduate University at email@example.com or (909) 621-8027. It would be our honor to thank you for your generosity.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.