Question: What property do you own, where is it located and how much is it worth? Next question: Is this information recorded somewhere, whether in hard- copy or electronically? Next question: Who, if anyone, has knowledge of and access to this information? If you cannot answer each of these questions with confidence, then your final legacy for your loved ones may resemble a treasure hunt. A Common Scenario It happens too often. Responsible people meet with legal counsel and prepare comprehensive estate plans. Their plans may even include cutting edge techniques implemented through proven legal instruments. Then, an injury or illness strikes these responsible people and they become incapacitated. Eventually, they die. Sometime thereafter, the successor decision- makers appointed in the legal instruments meet with the legal counsel who prepared the estate plans and receive their marching orders. These successors assume their positions of responsibility only to make a shocking discovery: There is little, if any, information available regarding the property they are now legally required to identify, locate and value. The Problem Instead of approaching estate planning as a process to get ( and keep) their legal affairs in order, too many people mistakenly believe that everything is okay once they sign their legal instruments. Nothing could be further from the truth. In fact, signing legal instruments without identifying, locating and valuing the property is like buying an automobile without putting fuel in its tank. It may look nice, but you are not going anywhere. The Solution You are in the best position to know what you have, where it is located and what it is worth. After all, you likely are identified as the owner on any deed, title certificate or account regarding each asset you own. Additionally, you probably receive notice each year from tax collecting authorities to remind you of your property ownership ( and the taxes you owe). If nothing else, make a copy of your deeds, titles, account statements and tax notices, then retain them with your legal instruments. Do you have heirlooms and collectibles that are difficult to value? If so, then a professional appraisal is essential to establish their value for estate distribution and death tax planning. The Follow- Through It has been said that the will to succeed is for naught without the discipline to plan. When it comes to avoiding an unpleasant treasure hunt for your loved ones, TREASURE HUNTmaintaining accurate records is essential to the success or failure of your estate plan. And do not forget to communicate this information to your successor decision- makers. Even the best- laid plans succeed or fail depending on how well they are recorded and communicated. Remember: The time that you invest today to record and communicate information about your property will make your estate administration more efficient ( and less expensive) later on.

Note: Nothing in this publication is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisors regarding the same. [ See IRS Circular 230.] © 2009 Integrity Marketing Solutions Scott N. Alperin Alperin Law 4605 Pembroke Lake Circle Suite 300 Virginia Beach, VA 23455 Phone: ( 757) 490- 3500 Fax: ( 757) 233- 3600 scott@ alperinlaw. com Scott N. Alperin Alperin Law Phone: ( 757) 490- 3500 . Web: www. alperinlaw. com We are a full- service estate planning, business law and real estate law office working to provide Peace of Mind to our clients and their families. We are committed to personal service to each client, using only those legal tools and techniques that suit the individual client's needs, goals and personal situation. Services provided include: Revocable Living Trusts . Wills . Powers of Attorney Irrevocable Living Trusts . Life insurance Trusts Integrated Estate Planning . Real Estate . Tax Deferred Exchanges Tax Planning Strategies . Business Law Family Limited Partnerships . Limited liability Companies Corporations . Non- Profit Organizations . Asset Protection If you would like a friend or client to receive our newsletter free of charge, please call our office with their name and email address. Visit us online at www. alperinlaw. com for more information. Scott N. Alperin Alperin Law 4605 Pembroke Lake Circle . Suite 300 Virginia Beach, VA 23455 We hope that you enjoy our new monthly newsletter Estate Planning Matters. The purpose of this newsletter is to alert you to estate planning issues and opportunities. Our goal is to help our clients develop and maintain estate plans that accomplish their specific objectives. It is important to remember that an estate plan must be kept current in order for it to work effectively. You must stay on top of updating your documents, making sure that your assets are currently titled, and keeping the records that will assist those who will implement your plan in the future. We are here to assist in that process. In coming months, Estate Planning Matters will touch on such areas as elder law, long term care, business succession, issues that primarily affect women, special needs planning, philanthropy, and building incentives into your estate plan. We welcome your questions and comments. Please let us know if there is anyone you would like us to add to our Estate Planning Matters mailing list. Scott N. Alperin