Quick legal checkup

  1. Title assets in your name as trustee of your living trust
  2. Update your power of attorney for property and for health care
  3. Consider options for insurance with your insurance advisors (e.g., life, health, disability, long term care, liability) and named insureds (e.g., you, your living trust, your companies, employees, independent contractors)
  4. Check and update primary and contingent beneficiaries for life insurance and retirement assets
  5. Check for unclaimed property at www.icash.illinoistreasurer.gov/ (and similar sites in other states)
  6. Check for forgotten/missing life insurance policies at www.insurance.illinois.gov/Applications/LifePolicyLocator/
  7. Business owners should mantain corporate records, succession plans, agreements and effective contracts with customers, suppliers, employers and comply with retirement plan rules
  8. Persons with limited liability companies should consider operating agreements and recent significant Illinois law changes regarding oral changes to operating agreements