ESTATE PLANNING BOOKLET
|
|
- Bennett Gray
- 8 years ago
- Views:
Transcription
1 ESTATE PLANNING BOOKLET (Information about Wills, Trusts, Estate Taxes, and more...) P P P SUSSMAN+PARKHURST ATTORNEYS AT LAW ROSS A. SUSSMAN (612) CAMERON M. PARKHURST (612) NORTH SECOND STREET, SUITE 300, MINNEAPOLIS, MINNESOTA Ross@SussmanParkhurst.com Cameron@SussmanParkhurst.com
2 ESTATE PLANNING BOOKLET (Information about Wills, Trusts, and Taxes) Estate Planning. Lawyers use the words "Estate Planning" to describe the things we do to prepare your Wills, Trusts, Powers of Attorney, Health Care Directives ( Living Wills ), and related documents. Estate Planning also sometimes includes the transferring of assets to minimize or eliminate estate taxes. The Goal of Estate Planning is to arrange your affairs in the way you want and keep estate taxes to a minimum, if not eliminated altogether. Steps in Estate Planning. Estate Planning is basically a four step process: Step One Step Two Step Three Step Four Gathering Family and Financial Information. Listening to your concerns and how you would like your assets distributed. Discussion and recommendations of how to accomplish your goals. This step involves planning for income tax, gift tax, estate tax, and distribution of retirement plans. Preparation and signing of appropriate documents. Will. A Will is a document which names the persons to be your Personal Representative (Executor) who will administer your estate, Guardians for any minor Children, and Trustees (if appropriate). Your Will also names the persons to receive your property on your death. A Will only controls the distribution of property which is in your name alone. A Will must go through Probate. Property which is in joint tenancy or has a designated Beneficiary does not usually go through Probate. Trust. A Trust is an Agreement made with your Trustee. Like your Will, a Trust specifies how your property will be distributed. However, the Trust generally does not go through Probate, and you can defer distribution to your Children beyond age 18 (the age at which they are normally entitled to their property or inheritance). You can defer distribution to whatever ages you desire, and have full or partial distribution made at those ages. Some Trusts, which are irrevocable, can save Estate Taxes. Sometimes, Trusts are set up in a Will. Those Trusts are called Testamentary Trusts. A Trust may or may not be appropriate for your situation. Living Trust. A Living Trust avoids Probate and is a speedy way to transfer property on a person's death. It can even transfer property in another State, like a cabin in Wisconsin. It is a private document and does not have to be filed in Court (unless the Co-Trustee and beneficiaries get into a dispute and take their dispute to Court). It avoids the necessity of Guardianship or Conservatorship in case you become physically or mentally disabled. In that case, the Co- Trustee takes over for you and makes sure your bills are paid and you have a comfortable life. Living Trusts work very well in the appropriate situation. However, they are not the estate Page 1
3 planning solution for everyone. Sometimes greater tax-savings can be obtained through the Probate process. It depends on your personal situation, what assets you have, and how you want them transferred to the next generations. Bequests to Children. If you have children who are minors or young adults, we recommend that any significant inheritance be placed in a Trust until they reach a mature age. Please consider at what age you would want them to receive some or all of their inheritance. Until the Trust is terminated, the Trust pays for their health, education, or support. At some point, for example, at age 21, income would be paid to them each year. In addition, provisions can be made for payment of travel expenses, weddings, the purchase of a home, the purchase of a business or profession, or for any other expenditure the Trustee considers appropriate or necessary. Of course, you can stipulate what you consider appropriate or advisable. Income Taxes. Your heirs or beneficiaries do not have to pay income tax on the assets they inherit from you. However, income (interest, dividends, etc.) from the investment of an inheritance is subject to income taxation. Estate Taxes. Any amounts you give to your Spouse or to a charity are exempt from Estate Taxes provided you make the bequest according to the IRS rules. In addition, you can make bequests to others that will be not be taxed. It depends on the year in which you die. For example, For Deaths Occurring in FEDERAL Estate Tax Returns Must be filed if the Gross Estate* exceeds the Tax-Sheltered Amount of... MINNESOTA Estate Tax Returns Must be filed if the Gross Estate* exceeds the Tax-Sheltered Amount of $ 5,000,000 $ 1,000, $ 5,120,000 $ 1,000, $ 5,250,000 $ 1,000,000 * The Gross Estate includes the full value of Life Insurance (not the cash value), Real Estate (before deducting any unpaid mortgage balance), Bank Accounts, IRAs, and Other Assets in which the Deceased had an interest. Federal Gift Tax Exclusions. In 2013, you can give up to $14,000 to any number of people without incurring a Gift Tax or having to file a Gift Tax Return. This amount is increased to $28,000 if you are married at the time the gift is made. The person receiving the gift does not have to report the gift as income. In addition to the $14,000 Annual Exclusion, during 2013, you can use part or all of your $5,250,000 Lifetime Estate/Gift Exclusion to make additional gifts without incurring a Gift Tax. Again, the person receiving the gift does not have to report the gift as income. Currently, Minnesota does not have a Gift Tax. Page 2
4 IRS Required Disclosure under Circular 230. The IRS requires us to tell you that any Federal Tax advice in this booklet is not intended or written to be used, and cannot be used, (1) for the purpose of avoiding Federal Tax penalties or (2) promoting, marketing or recommending any transaction discussed in this document to another person unless I specifically authorize you to do so. Other Documents. When you make your Will, there are three other documents I recommend that you make. They are a Power of Attorney for Financial Matters, a Health Care Directive (which is the same as a Living Will ), and a HIPAA form. 1. Power of Attorney for Financial Matters. A Power of Attorney is a document authorizing another person to act on your behalf. This enables someone (called an "Attorney-in-Fact") to act for you. For example, your Attorney-in-Fact can sign checks for you and pay your bills. If you are out of the State and certain business must be attended to, or if you are ill and unable to sign your name, then your Attorney-in-Fact can act for you. Unless restricted (see Note at end of this Paragraph), your Attorney-in-Fact can act for you as soon as you sign the Power of Attorney document. That is why you must choose your Attorney-in-Fact carefully. A Power of Attorney that is "durable" is one that remains effective if you become disabled either physically or mentally. A Power of Attorney is terminated when a person dies. You should designate one person to act for you, and then name a backup person in case the first is unable or unwilling to act. [NOTE: If you wish, you can make a restriction on your Power of Attorney to make it a Springing Power of Attorney. The restriction would be that the Attorney-in-Fact would not be able to act until there was a letter from your doctor or some other named person stating that you were unable to manage your financial affairs. The downside of the Springing Power of Attorney is that it may take some time to get the letter when there is a situation that needs your immediate attention and you are unable to act promptly. This is something we should discuss when we meet.] 2. Health Care Directive. A Health Care Directive is a document which states your desires for medical treatment and names a person to make medical decisions for you when you are unable to make and communicate those decisions. I recommend that you also name a backup person in case the first is unable or unwilling to act. The Health Care Directive takes the place of the old Living Will and Power of Attorney for Health Care. 3. HIPAA form. This is a form which authorizes the disclosure of medical information to your Attorney-in-Fact and to your Health Care Agent. Without this document, doctors and hospitals are reluctant to disclose your medical information. This is a privacy provision under HIPAA which is the acronym for the Federal Health Insurance Portability and Accountability Act. Page 3
5 SOME THINGS TO THINK ABOUT It would be most helpful if you would think about the following and make some tentative decisions before our meeting: Guardians. If you have minor children, Guardians are the people who will take care of them until they reach age 18. The Guardians are given money from your Estate or Trust to help pay for your children's clothing, food, medical expenses, etc. If you have children under age 18, consider who you would like to appoint as their Guardians. Also, consider who should be alternate Guardians in case your first choice is unavailable. If your death occurs while you still have minor children, those children would probably be eligible for Social Security benefits. Personal Representative. Consider who you would like to serve as Personal Representative (Executor) and an alternate Personal Representative for your Estate. This is the person or Bank who will settle your estate. The Personal Representative (or PR ) works closely with your attorney. The PR's job is basically three-fold: #1 Collect and inventory your assets. #2 Pay your bills and last expenses. #3 Distribute your assets according to your Will. The job of a PR ends when the Estate is closed, generally 9 to 18 months after a person dies. Trustee. If you plan to create a Trust, consider the people you would like to name as Trustee and as a backup, or Successor Trustee. A Trustee is the person or persons or Bank who invests and distributes the Trust money for your Children or other Trust beneficiaries. If you have minor children, the Trustee would make payments to their Guardians. The Trustee can also make direct payments of your Children's bills. The job of Trustee ends when the Trust ends, usually when your youngest Child reaches a certain age, or at any date you specify. Trust Protector. This is an optional provision that you can use. A Trust Protector is a person who oversees the operation of your Trust. This must be someone who is not a Trustee. If the Trust Protector does not believe the Trustees are acting the way you would want them to, the Trust Protector can change the Trustees. The Trust Protector may, or may not, whichever you choose, appoint himself or herself as Successor Trustee. Alternative Distribution. Consider how you would like your estate to be distributed if your Spouse, Children, and Grandchildren do not survive you. Personal Property. Personal property, such as family heirlooms, artworks, jewelry, special collections, etc. can be given to people you designate on a special List, and this List must be referred to in your Will. Gifts of money cannot be written on the List. Page 4
6 Special Bequests. If you intend to make special bequests to Children, Grandchildren, Special Friends, or Charities, please bring a list with their exact names and addresses and the amount you wish to give. Other Questions. Are there any people you would not want to receive anything on your death? Do any children or grandchildren have any special needs? We can discuss these and any other concerns when we meet. Completion of Forms. You can start Step One of the Estate Planning process by completing the forms in the Estate Planning Worksheets Booklet. If you don't have all the information currently available, just do the best you can. Skip the parts that do not apply to you. You don't have to give us the exact dollar amounts, just round them off to the nearest $1,000, $5,000, or $10,000. These numbers are for planning purposes and do not have to be exact. We just need to know the approximate value and kinds of assets you own so we can recommend the best estate plan for you. Meanwhile, if you have any questions, don't hesitate to call us. Ross and Cameron Page 5
7 ESTATE PLANNING WORKSHEETS (Please bring these Worksheets to our Meeting.) P P P SUSSMAN+PARKHURST ATTORNEYS AT LAW ROSS A. SUSSMAN (612) CAMERON M. PARKHURST (612) NORTH SECOND STREET, SUITE 300, MINNEAPOLIS, MINNESOTA Ross@SussmanParkhurst.com Cameron@SussmanParkhurst.com
8 FAMILY INFORMATION YOU SPOUSE Print your full name What other names are you known by? Print your name as you want it to appear in your Will What is your date of birth? Where were you born? Are you a US Citizen? Social Security Number Home Address Home Telephone Home Fax Number Cell Phone Number Address Employed by Business Telephone Business Fax Number Who were you referred by? Do you make gifts of more than $10,000 each year? Do you have any disabled or incapacitated Children or Grandchildren? Marital Number of CHILDREN'S NAMES & ADDRESSES Birthdates Status Children Ages
9 FINANCIAL INFORMATION DESCRIPTION Owned by YOU Owned by SPOUSE Owned JOINTLY ASSETS Homestead Mortgage Vacation Property Mortgage Other Real Estate Mortgage Bank Accounts/Cash/CDs U.S. Government Securities Stocks Bonds Mutual Funds Annuities Business Interests Partnerships Autos Household Goods, Personal Effects, and Furnishings Special Collections Money owed to you Expected Inheritances Other Assets (describe) Loans and Debts (describe) LIFE INSURANCE Death Benefits RETIREMENT PLANS IRA Accounts Qualified Plans 401(k) & Keogh Plans NET WORTH $ $ $
10 LIFE INSURANCE INFORMATION Death Benefit Amount Company and Policy Number Cash Value Insured Owner Beneficiaries #1 #2 #1 #2 #1 #2 #1 #2 INTERNET AND COMPUTER INFORMATION If you use the internet, do you have a list of the sites, usernames, and passwords, and where is that list located? Do you have any of the following: Website? ( ) Yes, ( ) No; Social networking sites such as Facebook or Twitter? ( ) Yes, ( ) No; Blogs? ( ) Yes, ( ) No; Listservs? ( ) Yes, ( ) No. RETIREMENT PLAN INFORMATION Approximate Institution & Amount of Primary Secondary Owner Account No. Investment Beneficiary Beneficiary Since our recommendations will be made on the basis of the financial information you give us, please date and sign this page to certify that the information you give us is true and correct to the best of your knowledge. Dated:, 2013
11 WILL WORKSHEET Personal Representative This is the person who will carry out the terms of your Will. 1st Choice: Spouse if living, OR 2nd Choice: 3rd Choice: Guardians This is the person who will raise your Children who are under age 18 if neither parent is living: 1st Choice: 2nd Choice: 3rd Choice: Special Bequests Personal property such as jewelry, special collections, etc., can be given away by making a special List which is referred to in your Will. In addition, you may give money or property to others, like Grandchildren, Special Friends, Charities, etc.. $ to $ to Distribution (Please modify if not appropriate.) of Estate 1st To my Spouse, if living OR to 2nd To my Children in equal shares, and the share of a deceased Child will be distributed to his or her descendants (my Grandchildren). Alternative 3rd If neither my Spouse, Children, nor Grandchildren survive Distribution me, then my Estate shall be distributed:! 50% to my Heirs-at-Law (parents, brothers and sisters, nieces and nephews, aunts and uncles, etc.) and! 50% to my Spouse's Heirs-at-Law.
12 TRUST WORKSHEET If you would like your Estate held in Trust until certain events happen, or until certain ages are reached, please complete this form. If you are undecided, we can discuss this at our meeting. Trustee This is the person or Bank who will invest and distribute the money for your Spouse or Children. 1st Choice: 2nd Choice: 3rd Choice: Trust Protector If you wish, you can name a watchdog person who can change Trustees for your family. This person must be someone other than a Trustee. 1st Choice: 2nd Choice: 3rd Choice: Trust Distribution (Please modify if not appropriate.) Special Bequests First, the Trust money shall be held for the benefit of my Spouse, and shall be used for my Spouse's support, maintenance, education, and health according to our accustomed standard of living, taking into account the Trust money available. Second, on the death of my Spouse, the Trust shall be divided into equal shares, one share for each of my Children (and one share for the Children of a deceased Child of mine), and each Share shall be used for their support, education, maintenance, and health. Third, when a Child reaches age, the Trustee shall distribute the Child s remaining Trust Assets to him or her. Until the Child reaches that age, my Trustee may use principal for the Child as the Trustee deems appropriate for wedding expenses, travel, purchasing a home or business, etc.
13 POWER OF ATTORNEY AND HEALTH CARE DIRECTIVE WORKSHEET Your Name For your POWER OF ATTORNEY for FINANCIAL MATTERS 1st Choice Backup #1 Backup #2 For your HEALTH CARE DIRECTIVE ( LIVING WILL ) 1st Choice Backup #1 Backup #2 Please circle your choices... Do you want your body to be cremated? Buried? Or are you undecided? Do you want to donate your organs for transplant or medical research? Yes No Undecided
14 POWER OF ATTORNEY AND HEALTH CARE DIRECTIVE WORKSHEET Your Name For your POWER OF ATTORNEY for FINANCIAL MATTERS 1st Choice Backup #1 Backup #2 For your HEALTH CARE DIRECTIVE ( LIVING WILL ) 1st Choice Backup #1 Backup #2 Please circle your choices... Do you want your body to be cremated? Buried? Or are you undecided? Do you want to donate your organs for transplant or medical research? Yes No Undecided
ESTATE PLANNING WORKBOOK
Mortel Law, PLLC 7825 3 rd Street N, Suite 204 St. Paul, MN 55128 Tel 651.288.2843 Fax 651.731.5496 jmortel@mortellaw.com ESTATE PLANNING WORKBOOK This packet is provided as part of the Estate Planning
More informationESTATE PLANNING CHECKLIST. Your Name(s): Client 1: DOB: SSN: Employment: Telephone Numbers: Home: Office: Fax: Cell:
ESTATE PLANNING CHECKLIST Meeting Date: Referred By: Your Name(s): Client 1: DOB: SSN: Employment: Client 2: DOB: SSN: Employment: Address: (including County of residence) Telephone Numbers: Home: Office:
More informationRobert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com
Law Offices of Robert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com ESTATE PLANNING Estate planning is more than simply signing
More informationESTATE PLANNING PERSONAL AND FINANCIAL QUESTIONNAIRE
ESTATE PLANNING PERSONAL AND FINANCIAL QUESTIONNAIRE If you and you spouse will have different estate plans, then each must complete a separate questionnaire GENERAL INFORMATION DATE: 1. Marital Status:
More informationPERSONAL ESTATE PLANNING WORKSHEET PERSONAL AND FAMILY INFORMATION. Name. Address. City State Zip. Phone. Email
PERSONAL ESTATE PLANNING WORKSHEET Name Address City State Zip Phone Email PERSONAL AND FAMILY INFORMATION Date of Birth Social Security Number Marital Status: q Single q Married q Domestic Partners /
More informationEstate Planning Questionnaire
How did you hear about us? GRISSOM LAW, LLC 10475 Medlock Bridge Road Suite 215 Johns Creek, GA 30097 678.781.9230 Estate Planning Questionnaire I. GENERAL INFORMATION Full name Other names known by Date
More informationESTATE PLANNING PROCESS
ESTATE PLANNING PROCESS OVERVIEW Generally, the estate plan consists of 4 documents: a will, revocable trust, healthcare power of attorney, and financial power of attorney. In larger estates (over $10M
More informationEstate Planning Basics. An Overview of the Estate Planning Process
Estate Planning Basics An Overview of the Estate Planning Process What Is an Estate Plan? An estate plan is a map This map reflects the way you want your personal and financial affairs to be handled in
More informationFamily Protection Worksheet
Family Protection Worksheet The information requested on this worksheet helps me understand your situation and wishes for the future. Your time investment in this worksheet ensures that your goals are
More informationKURT D. PANOUSES, P.A. ATTORNEYS AND COUNSELORS AT LAW 310 Fifth Avenue Indialantic, FL 32903 (321) 729-9455 FAX: (321) 768-2655
KURT D. PANOUSES, P.A. ATTORNEYS AND COUNSELORS AT LAW 310 Fifth Avenue Indialantic, FL 32903 (321) 729-9455 FAX: (321) 768-2655 Kurt D. Panouses is Board Certified by the Florida Bar as a Specialist in
More informationECKBERG LAMMERS ATTORNEYS AT LAW. Minnesota Estate Planning Guide
ECKBERG LAMMERS ATTORNEYS AT LAW Minnesota Estate Planning Guide estate planning www.eckberglammers.com You have worked hard to build your assets and to provide a level of financial security for yourself
More informationESTATE PLANNING QUESTIONNAIRE
ESTATE PLANNING QUESTIONNAIRE Please bring a piece of photo ID to the meeting, as the Law Society requires us to take a copy of photo identification of all of our clients. COMMUNICATION: How do you wish
More informationThe Kreager Law Firm 7373 Broadway, Suite 500 San Antonio, Texas 78209 (210) 829-7722. Estate Planning Information
Estate Planning Information Please complete this questionnaire and bring it with you for your initial consultation with us. Of course, this information will be kept in strictest confidence. A. Husband
More informationWhat Military Families Should Know About Wills
What Military Families Should Know About Wills Prepared by: Aeronautical Systems Center Office of the Staff Judge Advocate 5135 Pearson Rd Wright-Patterson AFB, OH Phone: (937) 257-6142 DSN 787-6142 Revised
More informationTAX, RETIREMENT & ESTATE PLANNING SERVICES. Your Will Planning Workbook
TAX, RETIREMENT & ESTATE PLANNING SERVICES Your Will Planning Workbook Preparing your Will Glossary of terms... 1 Introduction... 2 Your estate... 2 Beneficiaries of your estate Your spouse... 3 Your children...
More informationESTATE PLANNING WORKSHEET
ESTATE PLANNING WORKSHEET Please complete the following worksheet and mail it to my office prior to our initial meeting, or e-mail it, or bring it with you. At the end of the worksheet is a list of documents
More informationWills & Estate Planning Information requested and/or things to consider for the drafting of your Last Will & Testament
ESTATE PLANNING WORKSHEET Wills & Estate Planning Information requested and/or things to consider for the drafting of your Last Will & Testament LEGAL NAME Date of Conference ADDRESS ZIP CODE TOWNSHIP
More informationThe Basics of Estate Planning
The Basics of Estate Planning A White Paper by Manning & Napier www.manning-napier.com Unless otherwise noted, all fi gures are based in USD. 1 The Basics of Estate Planning A White Paper by Manning &
More informationWills in Minnesota. Provided By Cameron Law PLLC (507) 206-4976
Wills in Minnesota Provided By Cameron Law PLLC (507) 206-4976 When you die, what will happen to your home, your property, your children? You can answer these questions in a written document called a Will.
More informationProvide for the future. Mount St. Mary s Estate Planning Kit
Provide for the future. Mount St. Mary s Estate Planning Kit Estate Planning Kit Estate Planning has a lasting effect on you and your family. However, many people do not have a current plan and it can
More informationESTATE PLANNING INFORMATION FORM
ESTATE PLANNING INFORMATION FORM This form is designed to provide me with the basic information necessary to prepare your last will and testament, a financial power of attorney, a medical directive ( living
More informationEstate Planning For Everyone
Estate Planning For Everyone Boston College Shaw Society Boston College Alumni Association November 20, 2013 Michael J. Puzo, Esq. Hemenway & Barnes LLP 60 State Street Boston, Massachusetts 02109 617-557-9721
More informationESTATE PLANNING WORKSHEET Single Individuals
ESTATE PLANNING WORKSHEET Single Individuals Information provided is held in complete confidence, and is used for the sole purpose of analyzing estate planning needs and designing estate planning documents.
More informationYour Estate Planning Record
Your Estate Planning Record Office of Philanthropy and Stewardship United Church of Christ Thank you for your support of the United Church of Christ through Our Church s Wider Mission. Your gifts have
More informationLarge or small, whatever the size of your estate, it is important to plan. If you do not
Starting to Plan Your Estate Large or small, whatever the size of your estate, it is important to plan. If you do not have a will, a court will select your heirs and distribute your property as prescribed
More informationInstructions for Completing Indiana Inheritance Tax Return
Instructions for Completing Indiana Return This form does not need to be completed for those individuals dying after Dec. 31, 2012. For those individuals dying before Jan. 1, 2013, this form may need to
More informationThe Basics of Estate Planning
The Basics of Estate Planning Introduction The process of estate planning can be a daunting prospect. Often individuals will avoid the process altogether. Obviously, this is not the best approach since
More informationESTATE PLANNING AND POWERS OF ATTORNEY
chapter 13 ESTATE PLANNING AND POWERS OF ATTORNEY We all know that we will eventually die. At the same time, no one likes to dwell on the prospect of his or her own death. But if you, your parents, or
More informationEstate Planning Checklist
Estate Planning Checklist BASIC DOCUMENTS THAT SHOULD BE PART OF EVERY PLAN Last Will and Testament Living Will Durable Power of Attorney For Healthcare Durable Power of Attorney For Finances and Property
More informationWhat Happens if You Die Without a Will
RON GRAHAM AND ASSOCIATES LTD. 10585 111 Street NW, Edmonton, Alberta, T5M 0L7 Telephone (780) 429-6775 Facsimile (780) 424-0004 Email rgraham@rgafinancial.com What Happens if You Die Without a Will If
More informationESTATE PLANNING QUESTIONNAIRE Date:
I. Client Information ESTATE PLANNING QUESTIONNAIRE Date: : Yes No First Middle Last U.S. Citizen? How would you like your name to read on your estate planning documents? Other s Known By Date of Birth
More informationSecond Edition HOW TO. Most Commonly Asked Questions & Answers COMPLETE YOUR ESTATE PLAN & PROTECT YOUR FAMILY. www.suffolklaw.com
Second Edition HOW TO Most Commonly Asked Questions & Answers COMPLETE YOUR ESTATE PLAN & PROTECT YOUR FAMILY www.suffolklaw.com About Our Firm Twomey, Latham, Shea, Kelley, Dubin & Quartararo is the largest
More informationEstate Planning Questionnaire
Estate Planning Questionnaire (Compiled by the University of Colorado American Indian Law Clinic) i I. General Information 1. Full name: 2. Nickname, maiden name, or other names used: 3. Marital status:
More informationThe Law Offices of Evan J. Krame, PC...Representing Individuals and Businesses in the Protection and Preservation of Personal Wealth
Preliminary Information Needed for Estate Planning GENERAL INFORMATION Domestic s Date: Are you registered as Domestic s? Date/Jurisdiction: Permanent Home Address: Home Telephone Number: Your Accountant
More informationEstate Planning. Chapter. In This Chapter. Survivorship Interests Payment on Death Accounts. Life Insurance
Estate Planning Your estate includes the assets and liabilities you will leave after you pass away. It is important to plan for how you want to pass your estate, including what you want to give away and
More informationEstate Planning. Some common tools used to help meet those particular needs include:
Estate Planning The Importance of Having an Estate Plan Having an estate plan is one of the most important things you can do for your family. It's not just about planning for estate taxes; it's about developing
More informationQUESTIONS TO BE CONSIDERED IN PREPARING YOUR WILL
QUESTIONS TO BE CONSIDERED IN PREPARING YOUR WILL 1. Please provide us with your and your spouse s (if applicable) full legal names, including all middle names, and your dates of birth. 2. Please provide
More informationESTATE PLANNING QUESTIONNAIRE
DATE: _ ESTATE PLANNING QUESTIONNAIRE I. FAMILY AND OCCUPATIONAL DATA: Name: Date of Birth: Address: Citizenship: SS#: Telephone # Home: Work: Cell: Email: Occupation: Name of Employer: Business Address:
More informationHERMENZE & MARCANTONIO LLC ESTATE PLANNING PRIMER FOR MARRIED COUPLES 2015 (New York)
HERMENZE & MARCANTONIO LLC ESTATE PLANNING PRIMER FOR MARRIED COUPLES 2015 (New York) I. Purposes of Estate Planning. II. A. Providing for the distribution and management of your assets after your death.
More informationWill and Living Trust information Packet
Will and Living Trust information Packet University of the Nations Gift Planning Services 75-5851 Kuakini Hwy, #433 Kailua-Kona, Hawaii 96740-2199 Phone 808-326-4453 Dear Friend of YWAM Kona, Many people
More informationMinnesota Laws -Wills
Minnesota Laws -Wills A will is the most common document used to specify how an estate should be handled after death. Anyone designated to receive property under a will (or trust) is called a beneficiary.
More informationEVERYTHING YOU OWN & EVERYONE YOU CARE ABOUT. An Estate Planning Primer
EVERYTHING YOU OWN & EVERYONE YOU CARE ABOUT An Estate Planning Primer For The Clients Of 7350 Cirque Drive W, Suite 201 University Place, WA 98467 (253) 759 8354 www.ppatpa.com Presented By T. Gary Connett
More informationEstate Planning Questionnaire
Estate Planning Questionnaire Instructions: Please complete the Estate Planning Questionnaire to the best of your ability and knowledge. All information contained within will be held in strict confidence.
More informationEstate Planning 101: The Importance of Developing an Estate Plan
Estate Planning 101: The Importance of Developing an Estate Plan SAN JOSE TEN ALMADEN BLVD. ELEVENTH FLOOR SAN JOSE, CA 95113 408.286.5800 MERCED 2844 PARK AVENUE MERCED, CA 95348 209.385.0700 MODESTO
More informationRevocable Trusts WHAT IS A REVOCABLE TRUST?
Revocable Trusts The Revocable Trust (often referred to as a Living Trust ) is a popular and effective estate planning technique used throughout the United States. Its advantages (and disadvantages) should
More informationFinancial Planning Questionnaire
Please fill out this questionnaire as accurately and completely as possible. In some cases, a statement from your bank, broker/custodian, mutual fund company, etc. will suffice. Complete only those sections
More informationUNDERSTANDING LIVING TRUSTS FOR FLORIDA RESIDENTS
UNDERSTANDING LIVING TRUSTS FOR FLORIDA RESIDENTS A PRACTICAL GUIDE ON HOW TO: Avoid Probate Save Estate Taxes Minimize/Avoid Court Intervention Help Reduce Risk of Exploitation Rarick, Beskin & Garcia
More informationMICHIGAN STATUTORY WILL NOTICE. 1. Any person age 18 or older and of sound mind may sign a Will.
MICHIGAN STATUTORY WILL NOTICE 1. Any person age 18 or older and of sound mind may sign a Will. 2. There are several kinds of Wills. If you choose to complete this form, you will have a Michigan Statutory
More informationDEVELOPING AN ESTATE PLAN
DEVELOPING AN ESTATE PLAN The first step in estate planning is very personal. You must decide who inherits which assets and when they should receive them. The following are a handful of the questions you
More informationWILLS & ESTATES ESTATE PLANNING
What is Estate Planning?...2 Estate Planning Should Include:...2 What is Power of Attorney?...2 What is a Representation Agreement?...3 What if you do not have a Power of Attorney or Representation Agreement?...3
More informationLiving Trust Overview
Living Trust Overview TABLE OF CONTENTS WHAT IS PROBATE AND WHY DO YOU WANT TO AVOID IT? 2 THE HIGH COST OF DYING 2 A REVOCABLE LIVING TRUST ELIMINATES PROBATE 3 HOW A LIVING TRUST WORKS 3 REVOCABLE LIVING
More informationESTATE PLANNING INFORMATION
ESTATE PLANNING INFORMATION I PERSONAL AND FAMILY DATA A. Husband Husband's Name: (First) (Middle) (Last) Social Security Number Home Phone Employer Business Address Business Phone Place of Birth: U.S.
More informationUNDERSTANDING PROBATE. The Family Guide PREPARED BY ROBERT L. FERRIS
UNDERSTANDING PROBATE The Family Guide PREPARED BY ROBERT L. FERRIS I FIRST STEPS: WHAT TO DO 1. Obtain certified copies of the Death Certificate. When a person dies in California, an official Death Certificate
More informationWhat should I bring to my appointment?
PLANNING YOUR ESTATE How to obtain a will 1. Complete the will worksheet. 2. Meet with an attorney to review your worksheet and discuss special concerns. An attorney will draft the will and related paperwork.
More informationKIMBERLY A. PATON, ESQUIRE THE PATON LAW FIRM, LLC 29 N. FARVIEW AVENUE PARAMUS, NEW JERSEY 07652
KIMBERLY A. PATON, ESQUIRE THE PATON LAW FIRM, LLC 29 N. FARVIEW AVENUE PARAMUS, NEW JERSEY 07652 201-291-1603 (PHONE) 201-291-1605 (FAX) KIMBERLY@PATONLAWFIRM.COM WWW.PATONLAWFIRM.COM ESTATE PLANNING
More informationSouthern Caregiver Resource Center
Southern Caregiver Resource Center Caring for those who care for others Fact Sheet: Legal Issues and Consultation Introduction When an adult member of your family has been diagnosed with a medical condition,
More informationWILLS, POWERS OF ATTORNEY, AND HEALTH CARE DIRECTIVES
WILLS, POWERS OF ATTORNEY, AND HEALTH CARE DIRECTIVES Glossary Administrator Alternate Bequest Capable Codicil Consent Devise Estate Executor A person appointed by the courts to distribute the property
More informationWills, Power of Attorney & Enduring Guardianship
Wills, Power of Attorney & Enduring Guardianship What is a Will? A Will is a written legal document by which the person making it sets out how he or she wishes their property to be distributed after their
More informationESTATE PLANNING OUTLINE
ESTATE PLANNING OUTLINE By LEONARD S. ROTH Attorney and Counselor at Law The Law Offices of Leonard S. Roth, P.C. 4265 San Felipe, Fifth Floor Houston, Texas 77027 (713) 622-4222 Board Certified in Tax
More informationWhat is Estate Planning?
What is Estate Planning? Estate planning is one of the most important steps any person can take to make sure that their final property and health care wishes are honored, and that loved ones are provided
More informationBasics of Estate Planning
Basics of Estate Planning THE CORNERSTONE OF ANY ESTATE PLAN ARE THE DOCUMENTS THAT SET FORTH YOUR WISHES FOR THE DISPOSITION AND OVERSIGHT OF YOUR ASSETS AT YOUR DEATH. IN ADDITION TO PROVIDING GUIDELINES
More informationEstate Planning Basics
Estate Planning and issues involved The Basics Presented by: MARK HOLZGANG Understanding the tax issues and administrative issues involved. Estate Planning Basics for your Practice and Life Why? Estate
More informationA Guide to Planning Your Will and Trust 205 W. JEFFERSON BLVD. SUITE 610 SOUTH BEND, IN 46601 (574) 232-0041 WWW.CFSJC.ORG
Planning Your Legacy A Guide to Planning Your Will and Trust 205 W. JEFFERSON BLVD. SUITE 610 SOUTH BEND, IN 46601 (574) 232-0041 WWW.CFSJC.ORG Everyone knows or should know the importance of having a
More informationWISCONSIN WILLS FOR HEROES
WISCONSIN WILLS FOR HEROES ESTATE PLANNING QUESTIONNAIRE General Information & Instructions In an effort to show our appreciation for the daily sacrifices of Wisconsin s police officers, firefighters and
More informationFlorida Wills, Trusts & Probate Questions and Answers
STEVEN W. LEDBETTER ATTORNEY AT LAW LICENSED IN FLORIDA, OREGON, AND TEXAS 4140 WOODMERE PARK BLVD., STE. 4 TEL: (941) 256-3965 34293 WWW.SWLLAW.COM FAX: (941) 866-7514 Florida Wills, Trusts & Probate
More informationESTATE PLANNING FACTS
(A 501(c)(3) Non-Profit Corporation) ESTATE PLANNING FACTS What is a Will? A Will is a legal document declaring how an estate is to be distributed after death. The Will states who the executor is and outlines
More informationESTATE PLANNING PACKAGE WITH MINOR CHILDREN
WILL, LIVING WILL, HEALTHCARE POWER OF ATTORNEY INSTRUCTIONS: The interview sheet contains basic information needed for your will, living will, and healthcare power of attorney. Do the best to complete
More informationTAKING CONTROL OF YOUR FUTURE THROUGH BASIC ESTATE PLANNING
TAKING CONTROL OF YOUR FUTURE THROUGH BASIC ESTATE PLANNING Prepared by Emily S. Starr The Law Office of Ciota, Starr & Vander Linden LLP 625 Main Street Seven State Street Fitchburg, MA 01420 Worcester,
More informationTHE STATE BAR OF CALIFORNIA. Do I Need a Living Trust?
THE STATE BAR OF CALIFORNIA Do I Need a Living Trust? 1. What is a living trust? 2. What can a living trust do for me? 3. Should everyone have a living trust? 4. How could a living trust be helpful if
More informationYour Will. The maker of a Will must be at least 18 years old, of sound mind and free from improper influence.
Your Will Who may make a Will? The maker of a Will must be at least 18 years old, of sound mind and free from improper influence. How should a Will be Made? The Will should be written, witnessed and signed
More information14. Probate in the State of Washington
-63-14. Probate in the State of Washington What Is Probate? Probate is a court-supervised procedure that determines the ownership of property of a deceased person (a decedent). When a person dies, all
More informationPROBATE AND ESTATE ADMINISTRATION
PROBATE AND ESTATE ADMINISTRATION in Bucks County, Pennsylvania A Guide for Executors and Administrators in Bucks County The purpose of this guide is to provide a concise overview of the probate and estate
More informationEstate Planning Guidebook. PO Box 16066 Lansing, MI 48901-6066 (517) 323-7366 www.doylelawpc.com
SM Estate Planning Guidebook PO Box 16066 Lansing, MI 48901-6066 (517) 323-7366 www.doylelawpc.com 2015 WELCOME On behalf of Doyle Law PC, I would like to thank you for your interest in our Estate Planning
More information4. Money from your retirement plan will go to the people you've named in your plan, with or without a will.
WILL INFORMATION and CLIENT WORKSHEET Provided by the 7 th Coast Guard District (dl) 909 S.E. 1 st Avenue, Rm. 918 Miami, Florida 33131 (305) 415-6957 Fax: (305) 415-6960 Introduction: This packet has
More informationRevocable living trusts
Revocable living trusts A flexible and practical estate planning tool A revocable living trust can accomplish a variety of personal, family and tax planning goals. It typically lets you retain complete
More informationIS A TRUST RIGHT FOR YOU?
: IS A TRUST RIGHT FOR YOU? You take care of your family and work hard for the things you ve acquired. You take the necessary steps during life to ensure your family s security and well-being and to avoid
More informationEstate Planning. And The Second To Die Program. www.infarmbureau.com
Estate Planning And The Second To Die Program www.infarmbureau.com Estate Planning and the Second to Die Program from Indiana Farm Bureau Insurance A source of satisfaction for most married couples is
More informationESTATE PLANNING WORKSHEET
ESTATE PLANNING WORKSHEET Information provided is held in complete confidence, and is used for the sole purpose of analyzing estate planning needs and designing estate planning documents. Preparation of
More informationESTATE PLANNING WORKSHEET
17 West Miner Street, Box 660 West Chester, PA 19381-0660 (610) 436-0100 (610) 429-4486 Fax 211 East State Street Kennett Square, PA 19348-3111 (610) 444-3180 (610) 444-3270 Fax ESTATE PLANNING WORKSHEET
More informationESTATE PLANNING QUESTIONNAIRE
ESTATE PLANNING QUESTIONNAIRE Please complete this form to the best of your ability and bring it with you to our initial meeting. Your cooperation in this regard will make your appointment more productive
More informationFinal Affairs: (Estate) Planning is a Good Thing
Final Affairs: (Estate) Planning is a Good Thing Senior Ministries of the Episcopal Diocese of Newark St. Luke s Episcopal Church Montclair, NJ March 14, 2015 Lance T. Eisenberg, Esq. Berkowitz, Lichtstein,
More informationL E G A L F A C T S O F L I F E
T H E S TAT E B A R O F C A L I F O R N I A DO I NEED A LIVING TRUST? GET THE L E G A L F A C T S O F L I F E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Do I need a living trust? What is a living trust?
More informationHERMENZE & MARCANTONIO LLC ADVANCED ESTATE PLANNING TECHNIQUES - 2015
HERMENZE & MARCANTONIO LLC ADVANCED ESTATE PLANNING TECHNIQUES - 2015 I. Overview of federal, Connecticut, and New York estate and gift taxes. A. Federal 1. 40% tax rate. 2. Unlimited estate and gift tax
More information2013 ESTATE PLANNING WORK SHEET. (Married Couple) DATE: / /
2013 ESTATE PLANNING WORK SHEET (Married Couple) DATE: PERSONAL INFORMATION: The following information is helpful to properly evaluate and design your estate plan. Moreover, the information provided may
More informationCommunity Legal Information Association of PEI. Wills. 902-892-0853 or 1-800-240-9798 www.cliapei.ca clia@cliapei.ca
Community Legal Information Association of PEI Wills 902-892-0853 or 1-800-240-9798 www.cliapei.ca clia@cliapei.ca This booklet is part of a series called Putting Your Affairs in Order At Any Age. Publications
More informationConfidential Estate Planning Questionnaire
Confidential Estate Planning Questionnaire Single Person This questionnaire is designed to help me evaluate your unique situation and create an estate plan that addresses your specific needs. Effective
More informationPersonal Financial Planning Questionnaire
MULHOLLAND FINANCIAL SERVICES Personal Financial Planning Questionnaire Conservative Financial Advice This comprehensive, personal financial planning summary is designed to help you take inventory and
More informationESTATE PLANNING QUESTIONNAIRE
ESTATE PLANNING QUESTIONNAIRE Office of the Staff Judge Advocate 4217 Roberts Avenue Legal Assistance Division Fort Meade, Maryland 20755 Phone: 301-677-9504/9536 PERSONAL INFORMATION DATE: 1. Marital
More informationModern Estate Planning Made Easy
Modern Estate Planning Made Easy Presented March 9, 2011 By Mark J. Bradley Ruder Ware 800-477-8050 mbradley@ruderware.com Ruder, Ware, L.L.S.C. 500 First Street, Suite 8000 P.O. Box 8050 Wausau, WI 54402-8050
More informationUnderstanding LIVING TRUSTS How To Avoid Probate, Save Taxes and More
LOUIS P. LEPORE, ESQ. 885 Huguenot Avenue TEL: 718 354 8646 Staten Island, NY 10312 FAX: 718 354 8647 40 Wall Street, 28 th Floor TEL: 212 400 7197 New York, NY 10005 FAX: 718 354 8647 331 Newman Springs
More informationImportant Information About Changing The Beneficiary On An Insurance Policy
Commonly Asked Questions IMPORTANT NOTICE Throughout your life you are likely to experience changes such as birth, adoption and marriage that may result in you wanting to re-examine your choice of beneficiary.
More informationREVOCABLE LIVING TRUST
CHERRY CREEK CORPORATE CENTER 4500 CHERRY CREEK DRIVE SOUTH, SUITE 600 DENVER, CO 80246-1500 303.322.8943 WWW.WADEASH.COM DISCLAIMER Material presented on the Wade Ash Woods Hill & Farley, P.C., website
More informationTHE ESTATE SETTLEMENT PROCESS
THE ESTATE SETTLEMENT PROCESS Please review this information carefully. The success of the probate depends on you. Settlement of an estate involves the process necessary to transfer asset ownership from
More informationEstate Planning Basics
MORELLA & ASSOCIATES A Professional Corporation 706 Rochester Road Pittsburgh, PA 15237 (412) 369-9696 Fax (412) 369-9990 http://www.morellalaw.com ESTATE PLANNING What is Estate Planning? Estate Planning
More informationESTATE PLANNING WORKSHEET
ESTATE PLANNING WORKSHEET The worksheets on the following pages comprise an informationgathering vehicle to assist you in preparing to meet with the attorney who will draft your estate planning documents.
More informationCALIFORNIA GUIDE TO BASIC ESTATE PLANNING 2014
CALIFORNIA GUIDE TO BASIC ESTATE PLANNING 2014 Prepared by: GLASER WEIL FINK HOWARD AVCHEN & SHAPIRO LLP Century City Office 10250 Constellation Boulevard, 19 th Floor Los Angeles, California 90067 (310)
More informationESTATE TAX RETURN ORGANIZER (FORM 706)
This organizer is designed to assist you, the personal representative, in gathering the information required for preparation of the appropriate estate and inheritance tax returns. Please complete the organizer
More informationWisconsin Probate. A Client's Guide to the Language and Procedure of Probate inn Wisconsin BAKKE NORMAN L A W O F F I C E S
Wisconsin Probate A Client's Guide to the Language and Procedure of Probate inn Wisconsin BAKKE NORMAN L A W O F F I C E S Welcome Thank you for considering Bakke Norman, S.C. to represent your interests.
More informationTHE RICE LAW FIRM, PLLC Fax: (281) 601-4870 Email: ricelawhouston@gmail.com Email: ricelawthewoodlands@gmail.com
THE RICE LAW FIRM, PLLC Fax: (281) 601-4870 Email: ricelawhouston@gmail.com Email: ricelawthewoodlands@gmail.com ESTATE PLANNING QUESTIONNAIRE FOR MARRIED COUPLE If you are interested in preparation of
More informationForm CT-706 NT Instructions Connecticut Estate Tax Return (for Nontaxable Estates)
(Rev. 06/11) Form CT-706 NT Instructions Connecticut Estate Tax Return (for Nontaxable Estates) General Information For decedents dying on or after January 1, 2011, the Connecticut estate tax exemption
More information