Estate Planning for Weggies. It'll be too late, if you end up unconscious in an ICU

[Pete]

Good idea, Tom!

My wife and I set up a revocable family trust into which we put all our assets (car, house, bank accounts, retirement savings accounts). In Ohio, the trust allows the successor trustees to avoid probate when my wife and I die. When we established the trust, we also made out living wills and durable powers of attorney and put copies of them in MyChart at OSU. The cost of doing this was about $3,000 in 2006.

We also made sure that beneficiary info was updated for 401k, 529 college savings accounts, and life insurance policies.

We’re all set for end of life stuff, but neither of us is in precarious health at the moment. But at our age (mid 70s), you never know…

[crowneagle]

Thanks Pete! You've done a great job with your estate plan. My recent issues lit a fire under my butt. Seeing an attorney today.