BELLEVUE, WA –-(Ammoland.com)- With this year’s challenges to our gun rights and Second Amendment Foundation accomplishments still fresh in your mind, now is a good time to review and update your estate plans.
To help you in this process, we have constructed the following checklist of estate planning actions for you to go over as the end of the year rolls closer.
- · Review your current will and trusts. These may need to be updated because of major changes in your life, such as births or deaths, a move to another state, etc.
- · Take inventory and make a written record of the contents of any safe-deposit box. Give a copy to a trusted family member and note any items that you are holding for someone else that don’t belong to you.
- · Review the beneficiary designations for your life insurance and retirement plans to make sure your beneficiary isn’t someone who is now deceased.
- · Make sure your durable power of attorney for health care and living will are current.
- · Be sure you are comfortable with the guardian named in your will for those under your care, such as minor children or a loved one who is disabled.
- · Finish charitable contributions by Dec. 31. As you think about special holiday gifts for family and friends, remember that making charitable gifts to organizations such as the Second Amendment Foundation in their honor can be a heartwarming experience that also offers you tax benefits.
If you’re still in the early stages of planning a gift, ask our General Counsel Miko Tempski for help. We can assist you in determining the best way to remember us this year or in your estate. Just call 425) 454-7012 or e-mail [email protected]
Benefit From Your Generosity
When giving at year-end, depending on the gift arrangements you choose, you can:
- · Reduce your income taxes.
- · Increase your spendable income.
- · Eliminate capital gains tax.
- · Attain no-cost, worry-free asset management.