FAQ
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Answers to the Most Common Estate and Retirement Planning Questions
As Estate Planning Coordinator, we know estate planning can feel complex and overwhelming. That’s why we’ve gathered the most frequently asked questions we hear from clients and answered them in plain language. If you're planning your estate, preparing a will, or trying to avoid probate, you'll find helpful, straightforward answers here.
General Estate Planning
Wills & Trusts
Probate & Legal Process
Power of Attorney & Medical Directives
Retirement & Tax Planning
Services & Appointments
101 Questions to Ask About Your Estate Plan
What Every Family Should Know Before It Is Too Late
By Scott A. Mills
Certified Estate and Trust Specialist
Protect What You Built. Protect Who You Love.
About Scott A. Mills
Scott A. Mills is a Certified Estate and Trust Specialist and a dedicated advocate for the families and businesses he serves. For more than 17 years, he has educated and protected families and businesses on how to safeguard assets while mitigating unnecessary tax burdens.
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He helps families avoid probate, protect loved ones in the event of death or incapacity, preserve retirement savings, and design strategies for tax-efficient or tax-free retirement income.
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Backed by a trusted team of Estate Planning Attorneys, Retirement Analysts, and Tax Mitigation Specialists, Scott provides clients with comprehensive solutions tailored to their unique goals and circumstances.
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He is passionate about helping individuals and families secure their futures, protect what matters most, and thrive through every stage of life.
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Protect What Matters Most - Your Family, Your Legacy, Your Peace of Mind.
Table of Contents
1. Estate Planning Foundations
Questions 1–15
2. Incapacity Planning
Questions 16–30
3. Beneficiary Designations
Questions 31–45
4. Retirement and Tax Planning
Questions 46–60
5. Asset Protection
Questions 61–75
6. Special Situations
Questions 76–90
7. Final Legacy Question
Questions 91–101
Estate Planning Foundations
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Do I have a valid Last Will and Testament?
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Do I have a Revocable Living Trust?
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Will my family have to go through probate?
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Have I funded my trust properly?
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Are my assets titled correctly?
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Have I named guardians for minor children?
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Are my estate documents current?
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Have I updated my plan after major life events?
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Do I own property in more than one state?
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Have I planned for estate administration costs?
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Are there family disputes likely after my passing?
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Have I clearly stated my wishes?
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Is my trustee or executor the right person?
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Have I named backups?
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Does my family know where documents are?
Incapacity Planning
16. Who can make financial decisions for me?
17. Do I have a Durable Financial Power of Attorney?
18. Do I have a Healthcare Power of Attorney?
19. Do I have a Living Will?
20. Does my trustee have authority during incapacity?
21. Who will pay my bills?
22. Who will manage investments?
23. Who can access digital accounts?
24. Have I addressed HIPAA authorization?
25. Have I documented long-term care wishes?
26. Have I planned for Medicaid/nursing care?
27. Will my spouse access assets immediately?
28. Could guardianship be required?
29. Have I communicated medical wishes?
30. Do family members know who to call?
Beneficiary Designations
31. Are IRA beneficiaries current?
32. Are 401(k) beneficiaries current?
33. Are 403(b)/457 beneficiaries current?
34. Are life insurance beneficiaries current?
35. Are annuity beneficiaries current?
36. Are beneficiaries aligned with my trust?
37. Should my trust be a beneficiary?
38. Have I considered SECURE Act rules?
39. Per stirpes or per capita?
40. What if a beneficiary dies first?
41. Have I named contingents?
42. Can designations override my will?
43. Are minors listed as beneficiaries?
44. Will inheritance create tax burdens?
45. Are POD/TOD causing issues?
Retirement and Tax Planning
46. Am I sitting on a tax time bomb?
47. Will heirs inherit taxable accounts?
48. Will RMDs increase taxes?
49. Will RMDs affect Medicare premiums?
50. Am I taxed on Social Security?
51. Should I consider Roth conversions?
52. Current vs future tax bracket?
53. Can I diversify taxes?
54. Am I exposed to Net Investment Tax?
55. Could market losses hurt income?
56. Sequence-of-returns risk?
57. Consider lifetime income?
58. Are accounts positioned properly?
59. Should I roll over old accounts?
60. Can I create tax-efficient income?
Asset Protection
61. Are assets protected from lawsuits?
62. Should rentals be in LLCs?
63. Is liability insurance enough?
64. Are business assets protected?
65. Could divorce affect inheritance?
66. Can creditors reach assets?
67. Is trust for protection or probate only?
68. Do I need an asset protection trust?
69. Is umbrella policy adequate?
70. Are joint assets at risk?
71. Could children lose inheritance in divorce?
72. Planned for spendthrift heirs?
73. Business succession risks?
74. Exposure to long-term care costs?
75. Could titling create legal risk?
Special Situations
76. Do I have a blended family?
77. Children from prior marriages?
78. Special needs heir?
79. Own a family business?
80. Own out-of-state real estate?
81. Own firearms or regulated assets?
82. Planned for pets?
83. Charitable goals?
84. Consider CRT, CGA, or donor funds?
85. Foreign assets/accounts?
86. Family with addiction/spending issues?
87. Digital assets or crypto?
88. Family loans addressed?
89. Real estate with multiple heirs?
90. Anyone intentionally excluded?
Final Legacy Questions
91. What legacy do I want to leave?
92. Written final instructions?
93. Funeral/burial wishes documented?
94. Family mission statement?
95. Passwords organized?
96. Listed key advisors?
97. Emergency contact sheet ready?
98. Personal letter to family?
99. Reduced confusion for loved ones?
100. Is my plan protecting what I built?
101. Have I taken action before it’s too late?
How Many of These Questions Can You Answer?
Schedule Your Complimentary Planning Session 256-246-9590 EstatePlanningCoordinator.com
Didn’t find your question?
Reach out directly — we’re happy to help. Call (256) 246-9590 or email scott@estateplanningcoordinator.com. We believe everyone deserves clear, compassionate guidance.