Estate Valuation Worksheet

Transcription

1 Estate Valuation Worksheet Generational Wealth Transfer Series Use the following worksheets to help you value your estate. If you re married, you should each complete your own worksheets, so make a photocopy before you start. Also, note that any jointly owned assets or community property should be divided equally between husband and wife. For example, if a couple owns a home valued at 100,000 with a mortgage of 60,000, half of the home s value (50,000) and half of the mortgage (30,000) is listed on each balance sheet. The same applies to all joint accounts such as checking, mutual funds, etc. When completing the worksheet, be sure to indicate how the property is held (i.e., joint, separate or community). Estate-Tax Balance Sheet Summary Assets Cash Securities Life Insurance Pensions, Annuities, Retirement Plans, Profit Sharing, IRAs, Keoghs Real Estate Business Interests Debts Due the Estate Personal Property Total Assets Liabilities Funeral and Estate Administration Expenses Mortgages, Liens, Property Taxes Loans Total Liabilities Taxable Estate Total Assets Total Liabilities Taxable Estate

2 Estate Assets Worksheet* Cash (bank, credit union, savings & loan, checking, money market, CDs, etc.) Financial Institutions Type of Sole/Joint Amount Total Assets Securities (stocks, bonds, mutual funds, unit trusts, government securities) Institution Broker Sole/Joint Cost Basis Value Total Assets *Source: The Widow s Handbook

3 Estate Assets Worksheet (continued) Life Insurance Company Policy Beneficiary(ies) Cash Value* Face Amount Total Assets Pensions, Annuities, Retirement Plans, Profit Sharing, IRAs, Keoghs and Location Value of Survivor Benefits (if any) Total Assets *Accumulated dividends, credit for unused premiums, etc.

4 Estate Assets Worksheet (continued) Real Estate and Location Purchase Date/Price Sole/Joint Cost Basis Appraised Value Total Assets Business Interests (corporations, partnerships, sole proprietorships) Firm Name Address/Phone Type of Business Cost Basis Appraised Value Total Assets

5 Estate Assets Worksheet (continued) Debts Due the Estate (notes, mortgages, royalties, patents, etc.) Name of Person/ Firm Owning Address/Phone Sole/Joint Date Due Amount Total Value Personal Property (automobiles, jewelry, furniture, collections, etc.) Location Current Value Total Value Total Value of All Assets

6 Estate Liabilities Worksheet** Funeral and Estate Administration Expenses Date Incurred To Whom Paid Amount Mortgages, Liens, Property Taxes Total Value To Whom Owed Date Owed Amount Loans (automobile, personal, student, insurance, credit cards, etc.) Total Value To Whom Owed Address/Phone Amount Total Value **Source: The Widow s Handbook

7 To learn more, please speak with an estate planning specialist for more information on estate management issues, or with your financial advisor for more information. This information is general in nature and not intended to constitute estate planning advice. Please consult your estate planning advisor for more detailed information on these issues and advice on your specific situation. BNY Mellon Retirement personnel act as licensed representatives of MBSC Securities Corporation (a registered broker-dealer) to offer securities, and act as officers of The Bank of New York Mellon (a New York chartered bank) to offer bank-maintained collective investment funds as well as to offer separate accounts managed by BNY Mellon Investment Management firms. This material is not intended as an offer to sell or a solicitation of an offer to buy any security, and it is not provided as a sales or advertising communication and does not constitute investment advice. MBSC Securities Corporation, a registered broker-dealer, FINRA member and wholly-owned subsidiary of The Bank of New York Mellon Corporation, has entered into agreements to offer securities in the U.S. on behalf of certain BNY Mellon Investment Management firms. BNY Mellon Investment Management is one of the world s leading investment management organizations, and one of the top U.S. wealth managers, encompassing BNY Mellon s affiliated investment management firms, wealth management service and global distribution companies. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation MBSC Securities Corporation MARK BNYMR-ETBWS-0816