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Estate Planning Worksheet (MARRIED COUPLE)
PERSONAL INFORMATION
Husband’s Legal Name______
(name most often used to title property and accounts – do not use your full middle name if you do not regularly use it when signing your name)
Also Known As ______
(other names used to title property and accounts)
Prefer to be called Birth date US Citizen? ______
Home Address City State Zip ______
Phone
E-mail Address .
Wife’s Legal Name ______
(name most often used to title property and accounts – do not use your full middle name if you do not regularly use it when signing your name)
Also Known As ______
(other names used to title property and accounts)
Prefer to be called Birth date US Citizen? ______
Home Address City State Zip ______
Phone
E-mail Address
children and/OR other FAMILY MEMBERS
(Use full legal name. Use “JT” if both spouses are the parents, “H” if husband is the parent, “W” if wife is the parent.)
Name Birth dateParent or Relationship
______
Comments:
______
Comments:
______
Comments:
do you expect your combined assets(including life insurance proceeds) to exceed $10 million AT the second DEATH? Yes or NO______
DO YOU OWN REAL PROPERTY (including timeshare interests)? If so, please provide addresses or descriptions:
DO YOU have retirement accounts? Yes or NO______
Do you have (non-retirement) Bank and/or brokerage accounts? Yes or NO ______
Do you own life insurance polices and/or ANNUITIES? Yes or NO ______
DO YOU OWN ANY BUSINESS INTERESTS?(e.g., general or limited partnerships, LLC membership interests, sole proprietorships, privately owned corporations, professional corporations, oil interests, farm and ranch interests. If so, please provide a description of the business interest and your ownership in the interest).
DOES ANYONE OWE YOU MONEY (e.g.,mortgages or promissory notes payable to you, or other moneys owed to you)?
Date ofMaturityOwedCurrent
Name of DebtorNoteDatetoBalance
do YOU HAVE ANy anticipated inheritance, gift, or LAWSUIT JUDGMENT? If so, please describe.
Description ______
______
DESIGN INFORMATION
PERSONS TO ACT FOR YOU:
GUARDIAN FOR MINOR CHILDREN: If you have any children under the age of 18, list in order of preference who you wish to be guardian.
NameRelationship
WHO WOULD YOU WANT TO HANDLE YOUR FINANCIAL AFFAIRS:
UPON DISABILITY:If you were incapacitated and unable to make financial decisions for yourself, who would you want to make decisions for you with regard to your property and assets? Married couples typically name their spouse, followed by one or more individuals, corporate trustees, or private fiduciaries.
FOR HUSBAND
NameRelationship
FOR WIFE
NameRelationship
______
______
______
UPON DEATH:After your death, who would you want to handle your financial affairs – gathering and appraising, and managing assets, paying taxes, if any, and making distributions to beneficiaries?
FOR HUSBAND
NameRelationship
FOR WIFE
NameRelationship
______
______
HEALTH CARE: If you were unable to make decisions for yourself, who would you want to make decisions for you with regard to your medical treatment?
HUSBAND’S AGENT
Name RelationshipInstructions or Guidelines
WIFE’S AGENT
Name RelationshipInstructions or Guidelines
DISTRIBUTIONS OF PERSONAL PROPERTY AND SPECIFIC GIFTS
USE OF PERSONAL PROPERTY MEMORANDUM: Do you want to provide that your personal property will be distributed pursuant to a written list you may prepare later? Yes No
Any property not listed on the memorandum should be distributed to:
FOR HUSBAND: Spouse, then children equally.Children
Spouse, then to balance of trust.To the balance of the trust.
Spouse, then other named individuals.Other named individuals. List on next line.
FOR WIFE: Spouse, then children equally.Children
Spouse, then to balance of trust.To the balance of the trust.
Spouse, then other named individuals.Other named individuals. List on next line.
SPECIFIC GIFTS: List any specific gifts of real estate or cash gifts you wish to make to either individuals or charities. Indicate whether these gifts are to be made even if the other spouse is alive.
FOR HUSBAND:
Individual or CharityAmount or PropertyContingent on Wife predeceasing?
FOR WIFE:
Individual or CharityAmount or PropertyContingent on Husband predeceasing?
UPON YOUR DEATH, IF YOUR SPOUSE SURVIVES YOU, DO YOU WANT ALL YOUR ASSETS TO GO OUTRIGHT TO YOUR SPOUSE? List your initial thoughts here, but provisions for the surviving spouse must discussed with you personally so you can be apprised of your options and make a fully-informed decision.
DIVISION OF PROPERTY UPON DEATH OF SECOND SPOUSE TO DIE
DIVIDE EQUALLY BETWEEN OUR CHILDREN AND THE DESCENDANTS OF ANY DECEASED CHILDREN:
DIVIDE AMONG NAMED INDIVIDUALS and/or CHARITIES:
HOW AND WHEN TO DISTRIBUTE MY PROPERTY:
DISTRIBUTE OUTRIGHT TO OUR BENEFICIARIES: Provides no protection from creditors, predators, or from themselves.
STRUCTURED TRUST: You determine how long the property is to remain in trust. During the period of time the property is held in trust it is available to the beneficiary for needs (health, education, maintenance, or support). You may give written instructions to the trustee outlining guidelines to be followed in determining the beneficiary’s needs. You may provide for a staggered distribution of principal; i.e., 1/2 at age 25, the remainder at age 30, or a lifetime trust for more protection from creditors and/or divorce. You decide who will manage the property and to carry out your distribution instructions. Does the beneficiary have a right to be a cotrustee or the sole trustee at a certain age or stage? You decide how the trust is designed. List your initial thoughts here, but these important issues must be discussed with you personally so you can be apprised of your options and make a fully-informed decision:
REMOTE CONTINGENT BENEFICIARY: Who do you want to receive your property in the remote event that no one listed above is alive to receive your property. Determining the remote contingent beneficiary is not so important that it should cause you to delay completion of your entire estate plan. It can always be changed at a later date.
In the remote event no one listed above is alive to receive my property I want my property distributed as follows:
To each spouse’s heirs-at-law (meaning to your parents, or if they are not alive to your brothers and sisters, and if they are not alive to your nieces and nephews, and so on.)
One-half to Husband’s heirs-at-law and one-half to Wife’s heirs at law.
To the following named individuals and/or charities:
Estate Plan, Inc. 352 3rd Street, Suite 301, Laguna Beach, CA 92651 19200 Von Karman, Suite 500, Irvine, CA 92612
Phone: (949) 497-5056 Fax: (949) 497-7150 Email: