Advanced Estate Planning Test
Take the following test to determine whether your estate plan includes the most current technology and practices.
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1. Have your Wills been updated within the past 5 years? (Yes = 5 points)
2. Does your Living Trust contain Dynasty Trust Provisions? (Yes = 10 points)
3. Does your Will or Living Trust have a Credit Shelter Trust provision? (Yes = 15 points)
4. Have you made lifetime gifts which have used all or any portion of your available unified credit? (Yes = 20 points)
5. Have you formed 1 or more family limited partnership(s) to which you have transferred all or a portion of your estate? (Yes = 30 points)
6. Do you have an irrevocable trust owning your life insurance policies which uses South Dakota as its situs? (Yes = 30 points)
7. Do you hold title to your home and vacation home in a QPRT? (Yes = 20 points)
8. Have you established a tax defective grantor trust to freeze your estate? (Yes = 20 points)
9. Have you bought life insurance to save your IRA from liquidation and/or to pay your estate taxes? (Yes = 20 points)
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If your answer is, "Yes" to the questions to the left, enter the point value in the fields below. Tally up your points in the, "Total Score" field and click the send button.
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*Total Score:
Over 190
Well Planned Estate
100-190
Average Estate
Tax Saving Strategies Not Utilized
Below 100
IRS will be your largest beneficiary
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