ESTATE TAX PLANNING CHECKLIST

COMPREHENSIVE ESTATE AND GIFT TAX PLANNING GUIDE

CLIENT INFORMATION

Client Name: [FULL LEGAL NAME]

Date of Birth: [DATE]

Social Security Number: [SSN]

Spouse Name (if applicable): [SPOUSE NAME]

Spouse Date of Birth: [DATE]

Spouse SSN: [SSN]

Address:
[STREET ADDRESS]
[CITY, STATE ZIP]

State of Domicile: [STATE]

Citizenship: ☐ U.S. Citizen ☐ Resident Alien ☐ Non-Resident Alien

Planning Date: [DATE]

Prepared By: [ADVISOR NAME]

SECTION 1: 2026 FEDERAL ESTATE TAX OVERVIEW

Key 2026 Numbers:

Note: The One Big Beautiful Bill Act (OBBBA) of 2025 made the $15 million exemption permanent and indexed for inflation starting in 2027.

SECTION 2: ASSET INVENTORY

2.1 Real Property:

2.2 Financial Assets:

2.3 Business Interests:

2.4 Life Insurance:

2.5 Other Assets:

SECTION 3: GROSS ESTATE CALCULATION

Less: Deductions:
| Deduction | Amount |
|-----------|--------|
| Debts/Mortgages | $[AMOUNT] |
| Administrative Expenses | $[AMOUNT] |
| Funeral Expenses | $[AMOUNT] |
| Charitable Bequests | $[AMOUNT] |
| Marital Deduction | $[AMOUNT] |
| State Death Tax Deduction | $[AMOUNT] |
| Total Deductions | $[TOTAL] |

TAXABLE ESTATE: $[AMOUNT]

SECTION 4: LIFETIME GIFT HISTORY

4.1 Prior Taxable Gifts:

4.2 Remaining Lifetime Exemption:

SECTION 5: ESTATE TAX PROJECTION

5.1 Estimated Estate Tax (First Death):

5.2 Estimated Estate Tax (Second Death):

SECTION 6: PLANNING STRATEGIES CHECKLIST

6.1 Basic Planning:

☐ Will/Revocable Trust - Current?
- Last updated: [DATE]
- Attorney: [NAME]
- Review needed: ☐ Yes ☐ No

☐ Durable Power of Attorney - Current?
- Last updated: [DATE]
- Agent: [NAME]

☐ Healthcare Directive/Living Will - Current?
- Last updated: [DATE]
- Healthcare agent: [NAME]

☐ Beneficiary Designations - Updated?
- Retirement accounts: ☐ Reviewed ☐ Needs Review
- Life insurance: ☐ Reviewed ☐ Needs Review
- POD/TOD accounts: ☐ Reviewed ☐ Needs Review

6.2 Marital Planning:

☐ Unlimited Marital Deduction
- All assets passing to spouse: ☐ Yes ☐ No
- QTIP trust needed: ☐ Yes ☐ No

☐ Portability Election
- Plan to elect DSUE: ☐ Yes ☐ No
- File Form 706 for portability only: ☐ Yes ☐ No

☐ Credit Shelter Trust (Bypass Trust)
- Needed for state estate tax planning: ☐ Yes ☐ No
- Funded at first death: $[AMOUNT]

☐ QTIP Trust
- Needed: ☐ Yes ☐ No
- Purpose: [DESCRIBE]

6.3 Lifetime Gifting Strategies:

☐ Annual Exclusion Gifts
- Number of donees: [#]
- Maximum annual gifts (2026): $19,000 × [#] donees = $[AMOUNT]
- Gifts made this year: $[AMOUNT]

☐ Direct Payments (Medical/Education)
- Tuition payments: $[AMOUNT]
- Medical payments: $[AMOUNT]
- (Unlimited exclusion under IRC § 2503(e))

☐ Gifts to Irrevocable Trusts
- Trust name: [NAME]
- Annual Crummey notices sent: ☐ Yes ☐ N/A

☐ Gifts of Appreciated Assets
- Assets identified: [DESCRIBE]
- Estimated appreciation: $[AMOUNT]

☐ Gifts to Charity
- Planned charitable gifts: $[AMOUNT]
- Charitable remainder trust: ☐ Yes ☐ No
- Charitable lead trust: ☐ Yes ☐ No

6.4 Trust Planning:

☐ Irrevocable Life Insurance Trust (ILIT)
- In place: ☐ Yes ☐ No
- Policies transferred: [LIST]
- Three-year rule satisfied: ☐ Yes ☐ No ☐ N/A

☐ Grantor Retained Annuity Trust (GRAT)
- In place: ☐ Yes ☐ No
- Asset type: [DESCRIBE]
- Term: [YEARS]

☐ Intentionally Defective Grantor Trust (IDGT)
- In place: ☐ Yes ☐ No
- Purpose: [DESCRIBE]

☐ Spousal Lifetime Access Trust (SLAT)
- In place: ☐ Yes ☐ No
- Funded amount: $[AMOUNT]

☐ Dynasty Trust
- In place: ☐ Yes ☐ No
- GST exemption allocated: $[AMOUNT]

☐ Qualified Personal Residence Trust (QPRT)
- In place: ☐ Yes ☐ No
- Property: [ADDRESS]
- Term remaining: [YEARS]

6.5 Business Planning:

☐ Business Succession Plan
- Plan documented: ☐ Yes ☐ No
- Buy-sell agreement: ☐ Yes ☐ No
- Valuation method established: ☐ Yes ☐ No

☐ Family Limited Partnership (FLP)
- In place: ☐ Yes ☐ No
- Valuation discounts available: ☐ Yes ☐ No

☐ Section 6166 Installment Payment
- Business qualifies: ☐ Yes ☐ No ☐ Unknown
- Business value > 35% of estate: ☐ Yes ☐ No

☐ Section 303 Stock Redemption
- Stock qualifies: ☐ Yes ☐ No ☐ Unknown

SECTION 7: STATE ESTATE TAX CONSIDERATIONS

States with Estate Tax (2026):

State Estate Tax Planning Needed: ☐ Yes ☐ No

Strategies for State Estate Tax:
[DESCRIBE]

SECTION 8: GENERATION-SKIPPING TRANSFER (GST) TAX

8.1 GST Tax Overview:

8.2 GST Planning:

☐ Dynasty Trust - GST exemption allocated
☐ Skip Person Beneficiaries identified
☐ Automatic GST Allocation - opted out where appropriate
☐ Late GST Allocation - considered if needed

SECTION 9: FORM 706 FILING REQUIREMENTS

Filing Required If:
☐ Gross estate + adjusted taxable gifts > $15,000,000 (2026)
☐ Portability election desired (regardless of estate size)
☐ GST tax due
☐ Prior taxable gifts made

Filing Deadline:
- 9 months after date of death
- Extension available: 6 months (Form 4768)

Form 706 Schedules Potentially Required:
☐ Schedule A - Real Estate
☐ Schedule B - Stocks and Bonds
☐ Schedule C - Mortgages, Notes, Cash
☐ Schedule D - Insurance on Decedent's Life
☐ Schedule E - Jointly Owned Property
☐ Schedule F - Other Miscellaneous Property
☐ Schedule G - Transfers During Decedent's Life
☐ Schedule H - Powers of Appointment
☐ Schedule I - Annuities
☐ Schedule J - Funeral and Administration Expenses
☐ Schedule K - Debts of Decedent
☐ Schedule L - Net Losses During Administration
☐ Schedule M - Bequests to Surviving Spouse
☐ Schedule O - Charitable Bequests
☐ Schedule P - Credit for Foreign Death Taxes
☐ Schedule Q - Credit for Tax on Prior Transfers
☐ Schedule R - Generation-Skipping Transfer Tax
☐ Schedule U - Qualified Conservation Easement Exclusion

SECTION 10: ACTION ITEMS

SECTION 11: PROFESSIONAL TEAM

SECTION 12: REVIEW SCHEDULE

CERTIFICATION

This checklist has been reviewed with the client and reflects their current estate planning situation and goals.

Client Signature: ___________________________________

Date: [DATE]

Advisor Signature: ___________________________________

Date: [DATE]

This template is provided for informational purposes and should be reviewed by qualified estate planning counsel.