Hereafter is a list of general considerations most people should address as part of their estate planning, followed by itemizations for persons of particular circumstances:

General Considerations

• The making of a last will and testament.
• The selection of an executor to perform the estate administration.
• Whether real estate owned in another state will complicate the probate and administration process.
• Who shall make medical decisions, (including a decision to terminate treatment), in the event of a disability
• Who shall make business and financial decisions in the event of a disability, and whether the powers of the agent should be in any way limited.
• Whether an attorney or other professional representing more than one family member in the estate planning process has a potential conflict of interest.
• Whether a person should seek to avoid probate in New Jersey or any other state through the use of a revocable trust.

Estate and Inheritance Taxes

• An estimate of the federal estate taxes which will be due, and how this liability will be funded.
• Whether the estate tax on life insurance proceeds could be avoided by the creation of a life insurance trust.
• Whether the client anticipates a substantial inheritance in the future, which would increase the estate taxes on his or her own passing.
• Whether gifts are advisable to avoid future estate or inheritance taxes.
• Whether the recipient of gifts will have accrued capital gains tax liabilities on the sale of the assets.
• The balancing of the goals of minimizing the overall estate tax liability with the need to provide security during retirement, including for a surviving spouse.
• How assets should be allocated and held between spouses to make use of the unified credit amount of each spouse, and thus minimize estate taxes.
• Whether assets should be reallocated among spouses if it is clear that one spouse will predecease the other.
• Whether federal estate taxes may be minimized through the use of a Grantor Retained Annuity Trust (GRAT), a Qualified Personal Residence Trust (QPRT), or other devices.

Life Insurance

• Who should be the owner, the beneficiary and the contingent beneficiary of each life insurance policy.
• Whether the estate tax on life insurance proceeds could be avoided by the creation of a life insurance trust.
• Whether the life insurance proceeds should be held in trust for children until they attain an age at which the parents believe they will have sufficient maturity.

• Who should be the guardian and contingent guardian for minor children.
• If a disabled child is left surviving, should assets be held in a "special needs" trust, to prevent the assets from disqualifying the child for government benefits, or from being consumed so that the child will thereafter qualify for government benefits.
• Should assets be held in trust for young beneficiaries until they reach an age at which they will be better able to manage the property, such as at age 25, 30 or even later.
• Whether alimony or child support obligations from a previous marriage will cause additional burdens on the estate.