Estate Planning

Estate Planning for the Actuarially Gifted


What You Can Do Now to HelpYour Estate Administrator 



Long Term Care Insurance

  • Federal Long Term Care Insurance Program (FLTCIP)
  • Home page for FLTCIP
  • LTC insurance broker David Hillelsohn (703) 709-1160

Contiuing Care Retirement Communities(CCRC)

  • Independent Living
  • Assisted Living
  • Nursing Home Care
  • % of costs you pay are attributed to medical expenses, therefore, are income tax deductible.


Center of Medicare and Medicaid Service(CMS)


Estate Planning Documents—update every 5 years, or more often

  • Will
  • Trust
  • Durable Power of Attorney (DPOA); Durable Health Power of Attorney
  • Living Will
  • Work with an estate attorney to have them prepared
  • Mark Ferguson, (estate atty in Reston) (703) 860-8520


Funeral arrangements

  • Funeral Home
  • Funeral Service
  • Write obituary
  • Anatomical Gift/Donations


Important Documents

  • Birth Certificate                                             
  • Military ID card
  • Marriage Certificate                                       
  • Passport and visas
  • Death Certificate                                           
  • Active contracts
  • Divorce Certificate                                        
  • Deeds and titles to property                         
  • DD214


Valuable Asset Information (e.g. coins, jewelry, heirlooms, etc)

  • Type of asset
  • Owner
  • Value
  • Location


Safe Deposit Box

  • Contents
  • Owner
  • box location
  • key location


List of Computer Passwords

Income and Income Tax

  • List sources and amount of current income
  • List sources and amount of income for surviving spouse
  • Prepare tax returns together; Keep tax returns and backup info for seven years


Insurance other than Life Insurance

  • List insurance company name and policy number
  • List type of policy
  • List owner of policy
  • List premium
  • List policy location


Life Insurance (e.g. personal, travel, Accidental Death or Disability, bank acct, etc)

  • List insurance company and policy number
  • List type of insurance
  • List owner of the insurance
  • List beneficiary of insurance
  • List death benefit
  • List loan balance and interest rate
  • List premium
  • List policy location


Previous Employers and Fraternal Organizations

  • List spousal benefits available


Ready Cash

  • Keep 3-6 months of living expenses liquid, safe, and readily available
  • Explore Capital One 360(0.75%)(formerly ING Direct)
  • Learn about USAA home equity line of credit (Prime-0.75%)


Legacy Letter to your family (Navy Mutual Aid)

  • Funeral arrangements             
  • Legal information
  • Special bequests                                
  • Insurance information
  • Financial information             
  • Special thoughts and remembrances


 Financial Assets—things you own

  • Cash (e.g. checking, savings, money market accounts)
  • Investments (e.g. CDs, brokerage accounts, mutual fund accounts, individual stocks, individual bonds etc)
  • Accounts for children/grandchildren (e.g. UGMA, UTMA, 529 Plan etc)
  • Retirement Accounts (e.g. IRA, ROTH IRA, SEP-IRA, 401(k), 403(b), Thrift Savings Plan, etc)
  • Personal Property (e.g. home, car, boat, timeshare, vacation property, etc)



  • Type of asset
  • Location
  • Account number
  • Owner
  • Value
  • Beneficiary


                        Update list every 6 months


Debts—money you owe

  • mortgage
  • home equity loan or line of credit
  • life insurance loan
  • car loan
  • credit card debt
  • personal loan
  • co-signer for someone else’s loan



  • Type of loan
  • Lender and account number
  • Debtor (i.e. who signed the debt papers)
  • Interest rate
  • Balance
  • Payment amount and frequency
  • Location of paperwork


                        Update list every 6 months 


Calculate Net Worth:  Financial Assets – Debts = Net Worth


Helpful Websites:

2013 Deceased Retiree Survivor’s Guide (post-death guidance for military families)


USNA Class of 1952 Personal Affairs Planning Guide (useful estate planning guide)


How to get a DD Form 214


How to find a Certified Financial Planner