Estate Planning Basics: an AI skill for legal and civic | Murage

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Document	What It Does	When It Takes Effect
Last Will and Testament	Directs how your assets are distributed; names an executor; names guardians for minor children	After death
Durable Financial Power of Attorney	Authorizes someone to manage your financial affairs	If you become incapacitated (or immediately, depending on type)
Healthcare Power of Attorney (Healthcare Proxy)	Authorizes someone to make medical decisions for you	If you cannot make decisions yourself
Advance Directive (Living Will)	States your wishes for end-of-life medical care	If you are terminally ill or permanently unconscious

Document	Purpose	Who Needs It
Revocable Living Trust	Avoids probate; manages assets during incapacity	Homeowners, those wanting privacy or probate avoidance
HIPAA Authorization	Allows designated people to access your medical information	Everyone (medical power of attorney alone may not suffice)
Guardianship Nomination	Names who should care for your minor children	All parents of minors
Letter of Intent	Non-legal guidance to executor/family about your wishes	Everyone (very helpful even if non-binding)
Beneficiary Designation Forms	Controls who receives retirement accounts, life insurance, etc.	Anyone with these accounts

WILL PLANNING WORKSHEET

PERSONAL INFORMATION:
Full Legal Name: {{NAME}}
Date of Birth: {{DOB}}
State of Residence: {{STATE}}
Marital Status: {{STATUS}}

EXECUTOR (Personal Representative):
Primary: {{NAME}} -- Relationship: {{REL}} -- Location: {{CITY, STATE}}
Alternate: {{NAME}} -- Relationship: {{REL}} -- Location: {{CITY, STATE}}

GUARDIANS FOR MINOR CHILDREN (if applicable):
Primary: {{NAME}} -- Relationship: {{REL}} -- Location: {{CITY, STATE}}
Alternate: {{NAME}} -- Relationship: {{REL}} -- Location: {{CITY, STATE}}

Note: Discuss with proposed guardians BEFORE naming them.
Consider: values, parenting style, financial stability, location,
willingness, age, existing children.

BENEFICIARIES:
Primary beneficiaries:
1. {{NAME}} -- Relationship: {{REL}} -- Share: {{%}}
2. {{NAME}} -- Relationship: {{REL}} -- Share: {{%}}
3. {{NAME}} -- Relationship: {{REL}} -- Share: {{%}}

Contingent beneficiaries (if primary predeceases you):
1. {{NAME}} -- Relationship: {{REL}} -- Share: {{%}}

SPECIFIC BEQUESTS:
Item: {{DESCRIPTION}} -- To: {{BENEFICIARY}}
Item: {{DESCRIPTION}} -- To: {{BENEFICIARY}}
Item: {{DESCRIPTION}} -- To: {{BENEFICIARY}}

CHARITABLE BEQUESTS:
Organization: {{NAME}} -- Amount/Percentage: {{AMOUNT}}

RESIDUARY ESTATE (everything not specifically bequeathed):
To: {{BENEFICIARY}} -- Share: {{%}}

TRUSTS FOR MINORS:
[ ] Create trust for minor beneficiaries until age: {{AGE}}
    Trustee: {{NAME}}
    Alternate Trustee: {{NAME}}

SPECIAL INSTRUCTIONS:
- Funeral/burial wishes: {{INSTRUCTIONS}}
- Pet care: {{INSTRUCTIONS}}
- Digital assets: {{INSTRUCTIONS}}

GENERAL WILL REQUIREMENTS:
- Testator must be 18+ years old (varies slightly by state)
- Testator must be of sound mind
- Will must be in writing (typed; handwritten "holographic"
  wills accepted in some states)
- Signed by the testator
- Witnessed by 2 adults (3 in some states) who are not beneficiaries
- Some states require notarization
- Self-proving affidavit recommended (simplifies probate)

FINANCIAL POA PLANNING:

Types:
- DURABLE: Remains effective if you become incapacitated (RECOMMENDED)
- SPRINGING: Only takes effect upon incapacitation (harder to use in practice)
- LIMITED: Restricted to specific transactions or time periods
- GENERAL: Broad authority over all financial matters

Agent (Attorney-in-fact):
Primary: {{NAME}} -- Relationship: {{REL}}
Alternate: {{NAME}} -- Relationship: {{REL}}

Powers to consider granting:
[ ] Banking transactions (deposits, withdrawals, account management)
[ ] Real estate transactions (buying, selling, managing)
[ ] Investment management
[ ] Tax filing and IRS communications
[ ] Insurance claims and management
[ ] Business operations
[ ] Government benefits applications
[ ] Gift-making authority (important for tax planning)
[ ] Trust management
[ ] Digital account access

Powers to consider restricting:
[ ] Self-dealing (agent benefiting themselves)
[ ] Gifting limits
[ ] Real estate sales (require court approval?)
[ ] Changes to beneficiary designations

HEALTHCARE POA PLANNING:

Healthcare Agent:
Primary: {{NAME}} -- Phone: {{PHONE}} -- Relationship: {{REL}}
Alternate: {{NAME}} -- Phone: {{PHONE}} -- Relationship: {{REL}}

Considerations for choosing an agent:
[ ] Will they follow YOUR wishes even if they disagree?
[ ] Are they emotionally capable of making difficult decisions?
[ ] Are they geographically accessible to your medical providers?
[ ] Do they understand your values regarding medical care?
[ ] Have you discussed your wishes with them in detail?

Powers to grant:
[ ] Consent to or refuse medical treatment
[ ] Access medical records (HIPAA authorization)
[ ] Choose healthcare providers and facilities
[ ] Make end-of-life decisions per your advance directive
[ ] Authorize organ donation
[ ] Authorize autopsy
[ ] Make mental health treatment decisions

ADVANCE DIRECTIVE DECISIONS:

Consider your wishes for each scenario:

IF TERMINALLY ILL (no reasonable expectation of recovery):
- Life-sustaining treatment: CONTINUE / WITHHOLD / WITHDRAW
- Artificial nutrition/hydration: YES / NO / TIME-LIMITED
- Mechanical ventilation: YES / NO / TIME-LIMITED
- CPR (resuscitation): YES / NO
- Dialysis: YES / NO / TIME-LIMITED

IF PERMANENTLY UNCONSCIOUS:
- Life-sustaining treatment: CONTINUE / WITHHOLD / WITHDRAW
- Artificial nutrition/hydration: YES / NO / TIME-LIMITED

GENERAL PREFERENCES:
- Pain management: PRIORITIZE COMFORT / PRIORITIZE CONSCIOUSNESS
- Organ donation: YES (all organs) / YES (specific organs) / NO
- Experimental treatments: OPEN TO / REFUSE
- Hospice/palliative care preference: YES / NO
- Preferred hospital/facility: {{NAME}}
- Religious/spiritual considerations: {{NOTES}}

ADDITIONAL WISHES:
{{PERSONAL_STATEMENT_ABOUT_VALUES_AND_QUALITY_OF_LIFE}}

BENEFICIARY DESIGNATION AUDIT

Review and update beneficiaries on ALL of the following:

RETIREMENT ACCOUNTS:
[ ] 401(k) -- Provider: {{NAME}} -- Beneficiary: {{NAME}}
[ ] IRA -- Provider: {{NAME}} -- Beneficiary: {{NAME}}
[ ] Roth IRA -- Provider: {{NAME}} -- Beneficiary: {{NAME}}
[ ] Pension -- Provider: {{NAME}} -- Beneficiary: {{NAME}}
[ ] 403(b) -- Provider: {{NAME}} -- Beneficiary: {{NAME}}

INSURANCE:
[ ] Life insurance -- Company: {{NAME}} -- Beneficiary: {{NAME}}
[ ] Life insurance #2 -- Company: {{NAME}} -- Beneficiary: {{NAME}}

BANK ACCOUNTS:
[ ] POD (Payable on Death) -- Bank: {{NAME}} -- Beneficiary: {{NAME}}
[ ] TOD (Transfer on Death) -- Institution: {{NAME}} -- Beneficiary: {{NAME}}

INVESTMENT ACCOUNTS:
[ ] Brokerage TOD -- Firm: {{NAME}} -- Beneficiary: {{NAME}}

OTHER:
[ ] HSA -- Provider: {{NAME}} -- Beneficiary: {{NAME}}
[ ] Annuity -- Company: {{NAME}} -- Beneficiary: {{NAME}}

COMMON MISTAKES TO AVOID:
- Naming "my estate" as beneficiary (forces probate, loses tax benefits on retirement accounts)
- Failing to update after marriage, divorce, or death of beneficiary
- Not naming contingent beneficiaries
- Naming a minor as direct beneficiary (requires court-appointed conservator)
- skipping to update after moving to a community property state

Feature	Description
What it is	A legal entity that holds your assets during your lifetime and distributes them after death
Avoids probate	Yes -- assets in the trust do not go through probate court
Privacy	Yes -- unlike a will, a trust is not a public record
Revocable	You can change or revoke it at any time during your lifetime
Incapacity planning	Successor trustee can manage assets if you become incapacitated
Does NOT save taxes	For most people, a revocable trust offers no tax advantage
Requires funding	You must retitle assets into the trust name for it to work

DIGITAL ASSET INVENTORY

FINANCIAL ACCOUNTS:
- Online banking: {{INSTITUTION}} -- URL: {{URL}}
- Investment platforms: {{LIST}}
- Cryptocurrency: {{EXCHANGES_AND_WALLETS}}
- PayPal/Venmo: {{ACCOUNTS}}
- Revenue-generating websites: {{LIST}}

SOCIAL MEDIA:
- Facebook: {{USERNAME}} -- Preference: MEMORIALIZE / DELETE
- Instagram: {{USERNAME}} -- Preference: {{CHOICE}}
- Twitter/X: {{USERNAME}} -- Preference: {{CHOICE}}
- LinkedIn: {{USERNAME}} -- Preference: {{CHOICE}}
- Other: {{PLATFORM}} -- Preference: {{CHOICE}}

EMAIL ACCOUNTS:
- Personal: {{ADDRESS}} -- Provider: {{NAME}}
- Work: {{ADDRESS}} -- Provider: {{NAME}}

CLOUD STORAGE:
- Google Drive / iCloud / Dropbox / OneDrive: {{ACCOUNTS}}
- Important files stored there: {{DESCRIPTION}}

SUBSCRIPTIONS:
- {{SERVICE}} -- Cost: ${{MONTHLY}} -- Cancel upon death: YES / NO
- {{SERVICE}} -- Cost: ${{MONTHLY}} -- Cancel upon death: YES / NO

DIGITAL MEDIA:
- Purchased music, books, movies: {{PLATFORMS}}
- Note: Most digital media licenses are non-transferable

DOMAINS AND WEBSITES:
- {{DOMAIN}} -- Registrar: {{NAME}} -- Hosting: {{NAME}}

INTELLECTUAL PROPERTY:
- Published works: {{LIST}}
- Software/code: {{REPOSITORIES}}
- Creative works: {{LIST}}

ACCESS INFORMATION:
Location of password manager or master list: {{LOCATION}}
Digital estate planning tool used: {{IF_ANY}}

[ ] Durable financial power of attorney
[ ] Healthcare power of attorney
[ ] Advance directive
[ ] HIPAA authorization
[ ] Basic will (even simple assets need direction)
[ ] Beneficiary designations on any retirement/insurance accounts
[ ] Digital asset plan

All of the above, PLUS:
[ ] Update all documents to reflect marriage
[ ] Review and update beneficiary designations
[ ] Consider joint ownership of major assets
[ ] Review life insurance needs
[ ] Discuss estate planning goals with spouse
[ ] Update emergency contacts

All of the above, PLUS:
[ ] Name guardians for children in will (CRITICAL)
[ ] Discuss with proposed guardians
[ ] Consider life insurance (10-12x annual income as starting point)
[ ] Create testamentary trust or revocable trust for children
[ ] Set trust distribution ages (not all at 18)
[ ] Open 529 education savings accounts
[ ] Update all beneficiary designations

All of the above, PLUS:
[ ] Review estate tax exposure (federal exemption: $13.61M in 2024; check current)
[ ] Consider revocable living trust
[ ] Review and increase life insurance
[ ] Consider umbrella liability insurance
[ ] Business succession planning (if business owner)
[ ] Charitable giving strategy
[ ] Review all documents every 3-5 years

All of the above, PLUS:
[ ] Review beneficiary designations on all retirement accounts (critical for tax planning)
[ ] Consider Roth conversions for estate planning
[ ] Long-term care insurance or planning
[ ] Review trust provisions
[ ] Downsize/simplify asset structure
[ ] Create detailed letter of intent
[ ] Organize all financial documents for executor
[ ] Discuss plans with adult children

UPDATE AFTER:
[ ] Marriage or divorce
[ ] Birth or adoption of a child
[ ] Death of a spouse, beneficiary, or named agent
[ ] Significant change in financial situation
[ ] Move to a new state
[ ] Diagnosis of serious illness
[ ] Purchase or sale of major assets
[ ] Retirement
[ ] Starting or selling a business

ATTORNEY INTERVIEW QUESTIONS:

1. What percentage of your practice is estate planning?
2. How many estate plans have you drafted?
3. What is your fee structure? (flat fee vs hourly)
4. What documents are included in a basic estate plan?
5. How long will the process take?
6. Do you provide ongoing updates when laws change?
7. What happens to my documents if you retire or leave the firm?
8. Do you work with my financial advisor and CPA?
9. What is the expected total cost for my situation?
10. Do you handle trust administration and probate as well?

DOCUMENT LOCATOR

Store this form in a safe but accessible place and share the
location with your executor and/or trusted family member.

Original will location: {{LOCATION}}
Trust document location: {{LOCATION}}
Power of attorney location: {{LOCATION}}
Healthcare directive location: {{LOCATION}}
Life insurance policies: {{LOCATION}}
Retirement account statements: {{LOCATION}}
Bank account information: {{LOCATION}}
Property deeds: {{LOCATION}}
Tax returns (last 3 years): {{LOCATION}}
Safe deposit box: {{BANK}} -- Key location: {{LOCATION}}
Password manager master access: {{INSTRUCTIONS}}
Financial advisor: {{NAME}} -- {{PHONE}}
Attorney: {{NAME}} -- {{PHONE}}
CPA/Accountant: {{NAME}} -- {{PHONE}}
Insurance agent: {{NAME}} -- {{PHONE}}

ESTATE PLANNING OUTPUT
======================

Section 1: Assessment / Analysis
- Key findings
- Recommendations

Section 2: Action Plan
- Step-by-step guidance
- Timeline if applicable

Section 3: Resources
- Relevant references
- Next steps