Check your score below to find out how urgent the situation might be: For each yes answer, add the number of points listed! Are you over the age of 25? ( add 5 points ) Over the age of 50 ( add 5 more points ) Over the age of 75 ( add 10 more points ) Do you own a home? ( add 5 points ) vacation home? ( add 10 points ) Do you have children? ( add 10 points ) Do you have grandchildren ( add 10 points ) Are any of the children or grandchildren minors? ( add 10 points ) Do you have a child or grandchild with a special need or who receives public benefits? ( add 15 points ) Do you own a business, investment real estate or have you made an investment in a company? ( add 20 points ) Do you have an IRA or 401k with a value of over $100,000.00 ( add 10 points ) Does your IRA 401k or other retirement plans total more than $1,000,000.00 dollars? ( add 15 points ) Are you the beneficiary of any trust or estate? ( add 15 points ) Do you own a life insurance policy with death benefits of $100,000.00 or more? (add 5 points) Do you own a life insurance policy with death benefits of $500,000.00 or more? (add 10 more points) Do you have a will? (if yes deduct 10 points) (if it's older than five years, add 15 points) Do you have a power of attorney? (if yes deduct 10 points) (if it's older than five years, add 15 points) Do you have a medical power of attorney (if yes deduct 10 points) (if it's older than five years, add 10 points) Do you have a living trust? (if yes deduct 5 points) (if it's older than five years, add 15 points) Do you have a living trust? (if yes deduct 10 points) (if it's older than five years, add 15 points) So what is your total and what does it mean? A score of 10 - 30 means that you'e financial situation isn't too complicated and/or you just did your planning. But check your score to find out what to do and how much it should cost below. Estate Plan Evaluator if you answer yes to three or more of the following criteria, it's time to get some basic estate planning or to update your will. Frees III JD Getting A Will or Updating Your Will - Are You OK, In Big Trouble or Do You Need To Act Now? Answer the test questions below to find out how urgent your need and what type of will, trust, or planning you might need as well as how to get it done and what it should cost. Getting A Will or Updating Your Will- The Essential Checklists and Evaluator For Pennsylvania Estate Planning By: David M.
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