Checklist Checklist

Category: Estate

  • #83 MORTGAGE BROKERS Buyer Checklist You Need To Know Before You Spend Your Money. 40 Buyer-Beware Intelligence Points.

    Financial Information Notice: This checklist provides general educational information only. It is not financial, mortgage, tax, or legal advice. Compensation structures, licensing, loan products, and mortgage regulations vary by jurisdiction.

    “The mortgage broker may help you shop—but you still need to understand what you’re actually comparing.”

    CFPB recommends comparing multiple mortgage offers and Loan Estimates rather than relying on a single lender or quote.

    25 Buyer-Beware Warnings

    1. ☐ Verify licensing where applicable.
    2. ☐ Ask how the broker is compensated.
    3. ☐ Ask who pays the broker.
    4. ☐ Ask whether compensation varies by lender/product.
    5. ☐ Identify the lenders being considered.
    6. ☐ Ask how many lenders the broker actually accesses.
    7. ☐ Request written loan options.
    8. ☐ Compare Loan Estimates.
    9. ☐ Compare interest rates.
    10. ☐ Compare APR.
    11. ☐ Compare points.
    12. ☐ Compare lender credits.
    13. ☐ Compare origination charges.
    14. ☐ Compare cash to close.
    15. ☐ Compare monthly payment.
    16. ☐ Compare loan term.
    17. ☐ Compare adjustable-rate features.
    18. ☐ Compare prepayment provisions.
    19. ☐ Ask whether the broker receives lender incentives.
    20. ☐ Don’t accept “best rate” without documentation.
    21. ☐ Don’t compare different loan structures as if they were identical.
    22. ☐ Get competing offers.
    23. ☐ Ask what can be negotiated.
    24. ☐ Verify all promised terms in writing.
    25. ☐ Don’t confuse broker convenience with lowest total cost.

    Premium Checklist

    Broker Audit

    ☐ License
    ☐ Experience
    ☐ Compensation
    ☐ Lender access
    ☐ Product access
    ☐ Conflicts
    ☐ Communication

    Quote Comparison

    Broker Quote → Loan Estimate → Competing Loan Estimate

    Compare:

    Rate / APR / Points / Fees / Credits / Payment / Cash-to-Close / Five-Year Cost

    CFPB specifically recommends obtaining and comparing Loan Estimates from multiple lenders.

  • #65 ASSET PROTECTION LAWYERS Buyer Checklist You Need To Know Before You Spend Your Money. 40 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “Asset protection usually works best before the threat appears—not after.”

    1. ☐ Don’t wait until litigation begins.
    2. ☐ Don’t transfer assets casually.
    3. ☐ Don’t assume an LLC automatically protects everything.
    4. ☐ Understand entity separateness.
    5. ☐ Maintain proper records.
    6. ☐ Identify personal exposure.
    7. ☐ Identify business exposure.
    8. ☐ Identify real-estate exposure.
    9. ☐ Identify guarantees.
    10. ☐ Identify insurance gaps.
    11. ☐ Review ownership structures.
    12. ☐ Review trusts where appropriate.
    13. ☐ Understand fraudulent-transfer risks.
    14. ☐ Understand jurisdiction.
    15. ☐ Ask about timing.
    16. ☐ Ask about tax consequences.
    17. ☐ Don’t confuse privacy with protection.
    18. ☐ Don’t assume offshore means protected.
    19. ☐ Understand compliance obligations.
    20. ☐ Document legitimate business purposes.
    21. ☐ Keep personal and business finances separate.
    22. ☐ Review existing creditor claims.
    23. ☐ Ask about professional conflicts.
    24. ☐ Understand ongoing maintenance.
    25. ☐ Don’t treat an asset-protection structure as a magic shield.

    Premium Checklist

    Exposure Map

    ☐ Personal assets.
    ☐ Business assets.
    ☐ Real estate.
    ☐ Investments.
    ☐ Guarantees.
    ☐ Professional liability.

    Structural Review

    ☐ Entities.
    ☐ Ownership.
    ☐ Insurance.
    ☐ Trusts.
    ☐ Contracts.

    Timing Test

    ☐ Is there pending litigation?
    ☐ Is there an existing creditor?
    ☐ Are transactions ordinary and legitimate?
    ☐ Has specialized counsel reviewed timing?

  • #64 TRUST ATTORNEYS Buyer Checklist You Need To Know Before You Spend Your Money. 30 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    1. ☐ Don’t create a trust without understanding its purpose.
    2. ☐ Identify the trust type.
    3. ☐ Understand who controls it.
    4. ☐ Understand who benefits.
    5. ☐ Understand revocable vs. irrevocable structure.
    6. ☐ Understand trustee duties.
    7. ☐ Ask about successor trustees.
    8. ☐ Determine which assets belong in the trust.
    9. ☐ Don’t assume signing the document funds the trust.
    10. ☐ Review real-estate transfers.
    11. ☐ Review account titling.
    12. ☐ Review beneficiary designations.
    13. ☐ Understand tax consequences.
    14. ☐ Understand administration costs.
    15. ☐ Ask about trustee compensation.
    16. ☐ Ask about annual compliance.
    17. ☐ Understand amendment rules.
    18. ☐ Understand distribution rules.
    19. ☐ Identify potential conflicts.
    20. ☐ Ask how the trust interacts with the will.
    21. ☐ Ask how it interacts with business interests.
    22. ☐ Obtain funding instructions.
    23. ☐ Store documents securely.
    24. ☐ Review after major life changes.
    25. ☐ Confirm that the trust actually accomplishes its stated purpose.

    Premium Checklist

    Purpose → Structure → Trustee → Beneficiaries → Assets → Funding → Tax → Administration → Review

    Critical Funding Audit

    ☐ Bank accounts reviewed.
    ☐ Brokerage accounts reviewed.
    ☐ Real estate reviewed.
    ☐ Business interests reviewed.
    ☐ Insurance/beneficiary designations reviewed.

  • #63 ELDER LAW ATTORNEYS Buyer Checklist You Need To Know Before You Spend Your Money. 60 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “The biggest elder-law mistake can happen before the crisis arrives.”

    1. ☐ Don’t wait until incapacity to plan.
    2. ☐ Identify who can make financial decisions.
    3. ☐ Identify who can make healthcare decisions.
    4. ☐ Review powers of attorney.
    5. ☐ Review healthcare directives.
    6. ☐ Understand long-term-care exposure.
    7. ☐ Inventory assets.
    8. ☐ Inventory income.
    9. ☐ Identify insurance.
    10. ☐ Identify housing.
    11. ☐ Don’t transfer assets casually.
    12. ☐ Don’t rely on internet Medicaid advice.
    13. ☐ Verify current eligibility rules.
    14. ☐ Ask about spousal issues.
    15. ☐ Ask about caregiving arrangements.
    16. ☐ Document family agreements.
    17. ☐ Protect against financial exploitation.
    18. ☐ Verify caregiver authority.
    19. ☐ Review existing trusts.
    20. ☐ Review beneficiary designations.
    21. ☐ Ask about tax consequences.
    22. ☐ Ask about state-specific rules.
    23. ☐ Understand attorney fees.
    24. ☐ Keep documents accessible.
    25. ☐ Update the plan after major life changes.

    Premium Checklist

    1. Current Situation

    ☐ Age/life stage.
    ☐ Health considerations.
    ☐ Family structure.
    ☐ Housing.
    ☐ Caregiving.

    2. Financial Protection

    ☐ Assets.
    ☐ Income.
    ☐ Insurance.
    ☐ Debt.
    ☐ Long-term-care exposure.

    3. Decision-Making

    ☐ Financial POA.
    ☐ Healthcare proxy/directive.
    ☐ HIPAA-related authorization where appropriate.
    ☐ Backup decision makers.

    4. Long-Term Care

    ☐ Identify possible care needs.
    ☐ Estimate private-pay exposure.
    ☐ Review insurance.
    ☐ Obtain jurisdiction-specific advice.

    5. Exploitation Protection

    ☐ Establish account-monitoring procedures.
    ☐ Identify trusted contacts.
    ☐ Review unusual financial activity.

  • #62 PROBATE LAWYERS Buyer Checklist You Need To Know Before You Spend Your Money. 60 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “Probate isn’t just paperwork—the wrong process can turn an estate into a much larger problem.”

    1. ☐ Don’t assume probate is always required.
    2. ☐ Don’t assume every asset passes through probate.
    3. ☐ Verify the applicable state procedure.
    4. ☐ Identify all assets first.
    5. ☐ Identify all beneficiaries.
    6. ☐ Locate the original will.
    7. ☐ Identify debts.
    8. ☐ Identify taxes.
    9. ☐ Identify jointly owned property.
    10. ☐ Identify beneficiary-designated accounts.
    11. ☐ Don’t distribute assets prematurely.
    12. ☐ Don’t ignore creditor issues.
    13. ☐ Don’t ignore estate expenses.
    14. ☐ Verify executor authority.
    15. ☐ Understand attorney compensation.
    16. ☐ Ask whether fees are hourly or otherwise calculated.
    17. ☐ Ask what tasks are included.
    18. ☐ Track deadlines.
    19. ☐ Maintain estate records.
    20. ☐ Don’t mix estate and personal funds.
    21. ☐ Don’t sell estate assets without authority.
    22. ☐ Document distributions.
    23. ☐ Get professional tax advice where needed.
    24. ☐ Understand when the estate can close.
    25. ☐ Don’t treat informal family agreements as substitutes for legal authority.

    Premium Checklist

    1. Estate Intake

    ☐ Death certificate.
    ☐ Will.
    ☐ Trust documents.
    ☐ Asset inventory.
    ☐ Debt inventory.
    ☐ Beneficiary information.

    2. Probate Determination

    ☐ Identify probate assets.
    ☐ Identify non-probate assets.
    ☐ Determine applicable court process.
    ☐ Determine whether simplified procedures apply.

    3. Executor Review

    ☐ Confirm appointment.
    ☐ Understand fiduciary responsibilities.
    ☐ Establish estate account.
    ☐ Create transaction log.

    4. Creditor & Tax Review

    ☐ Identify debts.
    ☐ Identify potential claims.
    ☐ Determine tax filings.
    ☐ Preserve documentation.

    5. Distribution

    ☐ Confirm authority.
    ☐ Verify beneficiaries.
    ☐ Calculate distributions.
    ☐ Document transfers.

    6. Closing Audit

    ☐ Required filings complete.
    ☐ Taxes resolved.
    ☐ Claims resolved.
    ☐ Assets distributed.
    ☐ Final accounting complete.

  • #61 ESTATE PLANNING ATTORNEYS Buyer Checklist You Need To Know Before You Spend Your Money. 60 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “A will can be perfectly valid—and still fail to accomplish what you actually wanted.”

    Estate planning is not simply document preparation. The interaction between wills, trusts, beneficiary designations, ownership, taxes, incapacity planning, business interests, and state law can determine what actually happens.

    The ABA identifies estate planning as encompassing wills, trusts and probate issues, while the IRS separately treats estate and gift taxation as its own technical area.

    1. ☐ Don’t assume a basic will solves every estate problem.
    2. ☐ Don’t hire solely because the lawyer is inexpensive.
    3. ☐ Verify the attorney’s estate-planning experience.
    4. ☐ Ask whether trusts are appropriate for your circumstances.
    5. ☐ Don’t ignore beneficiary designations.
    6. ☐ Don’t assume your will controls every asset.
    7. ☐ Review jointly owned property.
    8. ☐ Identify business interests.
    9. ☐ Identify real-estate ownership.
    10. ☐ Ask about incapacity planning.
    11. ☐ Ask about powers of attorney.
    12. ☐ Ask about healthcare directives.
    13. ☐ Ask how your documents interact.
    14. ☐ Ask how often the plan should be reviewed.
    15. ☐ Don’t assume an old plan remains appropriate after marriage.
    16. ☐ Review after divorce.
    17. ☐ Review after births or deaths.
    18. ☐ Review after major asset changes.
    19. ☐ Ask about state-specific rules.
    20. ☐ Ask whether tax planning is relevant.
    21. ☐ Understand every fee before signing.
    22. ☐ Obtain copies of executed documents.
    23. ☐ Understand where originals are stored.
    24. ☐ Know who needs access to the plan.
    25. ☐ Never confuse document completion with estate-plan completion.

    Premium Consumer Checklist

    1. Define the Mission

    ☐ Identify what you want the plan to accomplish.
    ☐ List beneficiaries.
    ☐ Identify special circumstances.
    ☐ Identify assets and liabilities.

    2. Vet the Attorney

    ☐ Verify license.
    ☐ Verify relevant practice experience.
    ☐ Ask how many similar plans they handle.
    ☐ Ask who actually prepares the documents.

    3. Inventory the Estate

    ☐ Real estate.
    ☐ Bank accounts.
    ☐ Investments.
    ☐ Retirement accounts.
    ☐ Insurance.
    ☐ Businesses.
    ☐ Digital assets.
    ☐ Personal property.

    4. Document Architecture

    ☐ Will.
    ☐ Trusts if appropriate.
    ☐ Financial power of attorney.
    ☐ Healthcare documents.
    ☐ Beneficiary coordination.

    5. Tax & Transfer Review

    ☐ Determine whether estate/gift-tax issues are relevant.
    ☐ Identify lifetime gifts.
    ☐ Ask about federal and state taxes.
    ☐ Verify current-year rules.

    The IRS notes that estate-tax calculations can include real estate, securities, insurance, trusts, annuities and business interests.

    6. Final Audit

    ☐ Every major asset has an intended destination.
    ☐ Beneficiaries are consistent.
    ☐ Incapacity instructions exist.
    ☐ Family circumstances are reflected.
    ☐ You understand what happens after death.