Personal Inventory Guide - Part 2

Worksheet

Step 1 of 30

Personal Information

Prefix

First Name(Required)

Middle Name

Last Name(Required)

Primary Email(Required)

Other Email Addresses

Work/Home...

(Use the plus button on the right to add more rows).

Address(Required)

Street Address Address Line 2 City State / Province / Region ZIP / Postal Code Country

Phone(Required)

Date of Birth(Required)

MM slash DD slash YYYY

If you are known by another name, what is that name?

What do you prefer to be called?

What is your Social Security Number? (optional)

Are you a US Citizen?(Required)

Yes

What is your county of residence?(Required)

Are you currently employed?(Required)

Yes

Employer and position?

What is your current marital status?(Required)

Married

Divorced

Widowed

Single

Spouse's Information

What is your spouse's legal name?(Required)

If your spouse is known by another name, what is that name?(Required)

What does your spouse prefer to be called?(Required)

What is your spouse's Date of Birth?(Required)

MM slash DD slash YYYY

What is your spouse's Social Security Number? (optional)

What is your spouse's email address?(Required)

Is your spouse a US Citizen?(Required)

Yes

What is your spouse's full address? (if your spouse's address is different then yours)

Street Address Address Line 2 City State / Province / Region ZIP / Postal Code Country

What is your spouse's cell phone number?(Required)

What is your spouse's county of residence, (if it is different than yours)?

Is your spouse currently employed?(Required)

Yes

Employer and position?

Children

(Use full legal name. Use “JT” if both spouses are the parents, “H” if husband is the parent, “W” if wife is the parent, “S” if a single parent.)

Children (if applicable)

Legal Name

Date of Birth

Parent(s)

Address

Phone Number

(Use the plus button on the right to add more rows).

Comments

Other Family (Ex. Siblings, Parents, Former Spouses, Grandchildren - If relevant to your Estate Planning)

Other Family (if applicable)

Legal Name

Relationship

Address

Phone Number

Comments

(Use the plus button on the right to add more rows).

Comments

(Use the plus button on the right to add more rows).

Advisors

Do you have a personal attorney?(Required)

Yes

Attorney's Name and Phone Number

Do you have an accountant?(Required)

Yes

Accountant's Name and Phone Number

Do you have a financial adviser?(Required)

Yes

Financial Advisor's Name and Phone Number

Do you have a life insurance agent?(Required)

Yes

Life Insurance Agent's Name and Phone Number

Your Concerns

Please rate the following as to how important they are to you

Desire to get affairs in order and create a comprehensive plan to manage affairs in case of death or disability.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Providing for and protecting a spouse.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Providing for and protecting children.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Providing for and protecting grandchildren.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Disinheriting a family member.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Providing for charities at the time of death.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Plan for the transfer and survival of a family business.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Avoiding or reducing your estate taxes.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Avoiding probate.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Reduce administration costs at time of your death.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Avoiding a conservatorship (“living probate”) in case of incapacity and disability.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Avoiding will contests or other disputes upon death.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Protecting assets from lawsuits or creditors.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Avoiding will contests or other disputes upon death.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Preserving the privacy of affairs in case of disability or at time of death from business competitors, predators, dishonest persons and curiosity seekers.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Plan for a child with disabilities or special needs, such as medical or learning disabilities.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Protecting children’s inheritance from the possibility of failed marriages.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Protect children’s inheritance in the event of a surviving spouse’s remarriage.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Provide that your death shall not be unnecessarily prolonged by artificial means or measures.

High Concern

Some Concern

Low Concern

No Concern/Not Applicable

Other Concerns (Please list below):

Important Family Questions

Are you (or your spouse) receiving social security, disability, or other governmental benefits?(Required)

Yes

Are you (or your spouse) making payments pursuant to a divorce or property settlement order?(Required)

Yes

If married, have you and your spouse signed a pre- or post-marriage contract?(Required)

Yes

Have you (or your spouse) been widowed?(Required)

Yes

Have you (or your spouse) ever filed federal or state gift tax returns?(Required)

Yes

Have (you or your spouse) completed previous will, trust, or estate planning?(Required)

Yes

Do you support any charitable organizations now that you wish to make provisions for at the time of your death?

Yes

Are there any other charitable organizations you wish to make provisions for at the time of your death?

Yes

If married, have you lived in any of the following states while married to each other? Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin(Required)

Yes

Are you (or your spouse) currently the beneficiary of anyone else’s trust?(Required)

Yes

Do any of your children have special educational, medical, or physical needs?(Required)

Yes

Do any of your children receive governmental support or benefits?(Required)

Yes

Do you provide primary or other major financial support to adult children or others?(Required)

Yes

Property Information

INSTRUCTIONS FOR COMPLETING THE PROPERTY INFORMATION CHECKLIST General Headings: This Property Information checklist is designed to help you list all the property you own and what it is worth. You may own more property than can be listed on this checklist. If so, you can type in "Other Property" or use extra sheets of paper to list your additional property. How you own your property is extremely important for purposes of properly designing and implementing your estate plan. For each property please indicate how the property is titled. When doing so, please use the following abbreviations: Owner of Property-[add the appropriate character]

Single Individual - I

If married, Husband’s name alone, with no other person - H

If married, Wife’s name alone, with no other person - W

If married, Joint Tenancy with spouse - JTS

Joint Tenancy with someone other than a spouse, i.e. a child, parent, etc. - JTO

If you cannot determine how the property is owned - ?

Real Property

TYPE: Any interest in real estate including your family residence, vacation home, time share, vacant land, etc.

Real Property

Property Address and Description

Owner and Ownership Percentage ?

Current Market Value

Current Mortgage Balance?

(Use the plus button on the right to add more rows).

Other Property

TOTAL VALUE OF ALL PROPERTY

Furniture And Personal Effects

TYPE: List separately only major personal effects such as, jewelry, collections, antiques, furs, and all other valuable non-business personal property (indicate type below and give a lump sum value for miscellaneous, less valuable items.).

Personal Effects

What is the Type or Description?

Who owns this?

Current estimated Market Value?

(Use the plus button on the right to add more rows).

TOTAL VALUE:

Automobiles, Boats And RVs

TYPE: Motor Vehicle/automobile, boat, RV, airplane, etc.

Vehicle

What type of vehicle is this?

Who is on the title as owner?

What is the current Market Value?

If there is a loan, what is the current balance?

(Use the plus button on the right to add more rows).

TOTAL VALUE OF ALL VEHICLES

Banks And Savings Account

TYPE: Checking Account “CA”, Savings Account “SA”, Certificates of Deposit “CD”, Money Market “MM” (indicate type below). Do not include IRA’s or 401(k)’s here.
Note: If Account is in your name (or your spouse’s name) for the benefit of a minor, please specify and give minor’s name.

Bank & Savings Accounts

Financial Institution

Account Number

Type of account

Account Owner

Current Balance

(Use the plus button on the right to add more rows).

TOTAL OF ALL BANK AND SAVINGS ACCOUNTS

Stocks And Bonds Or Investment Accounts

TYPE: List any and all stocks and bonds you own. If the stocks or bonds are held in a brokerage or investment account, specify them. (indicate type below)

Stocks, Bonds or Investment Accounts

Financial Institution

Type of Account

Account Number

Account Owner

Value or Balance

(Use the plus button on the right to add more rows).

TOTAL VALUE OF THE STOCKS, BONDS, AND FUNDS

Life Insurance Polices And Annuities

TYPES: Term, Whole Life, Universal Life, Split Dollar, Group Life, Annuity.
ADDITIONAL INFORMATION: Insurance company, type, face amount (death benefit), whose life is insured, who owns the policy, and the current beneficiaries.

Life Insurance

Insurance Co. Name?

Type of Insurance?

Death Benefit?

Policy Owner?

Who is insured?

Current Beneficiaries?

(Use the plus button on the right to add more rows).

TOTAL VALUE OF THE POLICIES

Retirement Plans

TYPE: Pension (P), Profit Sharing (PS), H.R. 10, IRA, SEP, 401(k), 403(b).

Retirement Plan

Financial Institution?

Type of Plan?

Account Number?

Current Value?

(Use the plus button on the right to add more rows).

WHAT IS THE TOTAL OF ALL RETIREMENT PLANS?

Business Interests

TYPE: General and Limited Partnerships, Sole Proprietorships, privately owned corporations, professional corporations, oil interests, farm and ranch interests.

Business Interest

Type of Business Interest?

Description of Ownership Interest?

Percentage of Business Interest?

Estimated value of this interest?

(Use the plus button on the right to add more rows).

TOTAL VALUE OF BUSINESS INTEREST

Money Owed To You

TYPE: Mortgages or promissory notes payable to you, or other monies owed to you.

Money Owed To You

Type of Debt Owed?

Name of the debtor?

Date debt was created?

Maturity Date of Debt?

Current Balance Owed?

(Use the plus button on the right to add more rows).

TOTAL AMOUNT(S) OWED TO YOU

Anticipated Inheritance, Gift, Or Lawsuit Judgment

TYPE: Gifts or inheritances that you expect to receive at some time in the future; or monies that you anticipate receiving through a judgment in a lawsuit.

Describe in appropriate detail:

TOTAL ANTICIPATED INHERITANCE, GIFT, OR LAWSUIT JUDGMENT EXPECTED

Other Assets

TYPE: Other property is any property that you have that does not fit into any listed category.

Describe in appropriate detail (please include owner and value)

TOTAL OF YOUR OTHER ASSETS

OPTIONAL PLANNING PROVISIONS

Congratulations! You have completed the Personal Inventory portion of this worksheet.

We have also added another part to this worksheet that makes Smart Planning smoother and easier. Since we require this of my paying clients as well, we have added it to the worksheet.

Do you want to continue?

Yes

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, those whom you wish to be guardian.

Desired Primary Guardian:

Yes

What is their Full Name?

What is their home address?

Relationship:

What is their phone number?

Desired Secondary Guardian:

Yes

What is their Full Name?

What is their Home Address?

What is their phone number?

Relationship:

Initial Trustee(s):

Usually the Maker of the Trust will be the Trustee of his or her own trust. Often, both spouses, jointly, which allows you to continue to jointly control your assets as before.

Initial Trustees:

Full Name

Address

Phone Number

Relationship

(Use the plus button on the right to add more rows).

Disability Trustee or Successor Trustee

If you were unable to make decisions for yourself, who would you want to make decisions for you with regard to your property and assets?

HUSBAND

Death or Successor Trustee(s) Husband

Full Name

Address

Phone Number

Relationship

(Use the plus button on the right to add more rows).

WIFE

Death or Successor Trustee(s) Wife

Full Name

Address

Phone Number

Relationship

(Use the plus button on the right to add more rows).

Power Of Attorney

If you were unable to make financial decisions for yourself, who would you want to make those decisions for you?

HUSBAND

Power of Attorney Husband

Full Legal Name:

Relationship:

Address:

Phone Number:

(Use the plus button on the right to add more rows).

Do you want to authorize your Financial Agent to make gifts on your behalf during any period of time you are incapacitated?

Yes

Gifting Power Details:

WIFE

Power of Attorney Wife

Full Legal Name:

Relationship:

Address:

Phone Number:

(Use the plus button on the right to add more rows).

Do you want to authorize your Financial Agent to make gifts on your behalf during any period of time you are incapacitated?

Yes

Gifting Power Details:

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

Health Care Agent-Husband

Full Name

Address

Phone Number

Relationship

(Use the plus button on the right to add more rows).

WIFE

Health Care Agent-Wife

Full Name

Address

Phone Number

Relationship

(Use the plus button on the right to add more rows).

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.

Husband's Gifts [ Please include: Individual or Charity - Amount or Property - Contingent on Wife predeceasing?]:

(Use the plus button on the right to add more rows).

Wife's Gifts [ Please include: Individual or Charity - Amount or Property - Contingent on Husband predeceasing?]:

(Use the plus button on the right to add more rows).

Providing For The Surviving Spouse Upon Death Of First Spouse To Die

(Death Of First Spouse To Die) Please Choose:

TO SURVIVING SPOUSE WITHOUT TAX PLANNING: We recognize this does not provide any tax planning which may result in our beneficiaries paying significant optional estate taxes.

DIVIDE INTO MARITAL AND FAMILY TRUSTS: Designed to maximize estate tax savings. To accomplish this an amount up to the unified credit will be transferred to the Family Trust and the balance, if any, to the Marital Trust. This is sometimes referred to as “A/B Trust Planning”. The Marital Trust is sometimes referred to as the “A Trust” or “QTIP Trust”. The Family Trust is sometimes referred to as the “B Trust”, “By-Pass Trust” or “Credit Shelter Trust”. Also provides protection for surviving spouse from creditors and predators. You decide how much control you want the surviving spouse to have. In the event of remarriage protects property for your heirs from a new spouse in case of death or divorce.

LIMITED POWER OF APPOINTMENT: Do you want the surviving spouse to be able to modify the way property is to be distributed upon his or her death?

Design Of Marital Share

Indicate whether these gifts are to be made even if the other spouse is alive.

Please choose one:

OUTRIGHT: We want to leave property outright to the surviving spouse. We recognize that this offers no protection from creditors, or predators. Allows surviving spouse to leave property to whomever he or she wants. Also allows a new spouse to possibly make claim on property in case of death or divorce.

GENERAL APPOINTMENT TRUST: All income and principal are available to the surviving spouse upon demand. The surviving spouse is free to do as he or she pleases. This would include the ability to remove all property in the Marital Share from the trust.

ALL INCOME – PRINCIPAL FOR NEEDS: All income is distributed to surviving spouse; principal is available for his or her needs (health, education and maintenance).

ONLY INCOME: Only income is distributed to surviving spouse. Principal is not available to the surviving spouse.

Design Of Family Share

(Design of Family Share) Please choose one:

ALL INCOME – PRINCIPAL FOR NEEDS: All income is distributed to surviving spouse; principal is available for needs (health, education and maintenance).

INCOME AND PRINCIPAL FOR NEEDS: All income and principal is available for needs. Income may be accumulated and not distributed.

ONLY INCOME: Only income is distributed to surviving spouse. Principal is not available to the surviving spouse.

Are descendants permissible beneficiaries of income and/or principal?

Division Of Property Upon Death Of Second Spouse To Die

(Division Of Property Upon Death Of Second Spouse To Die) Please choose one:

DIVIDE EQUALLY BETWEEN OUR CHILDREN AND THE DESCENDANTS OF ANY DECEASED CHILDREN

DIVIDE AMONT NAMED INDIVIDUALS and/or CHARITIES:

Please List the NAMED INDIVIDUALS and/or CHARITIES and the amounts

(Use the plus button on the right to add more rows).

How And When To Distribute My Property

(How And When To Distribute My Property) Please choose one:

DISTRIBUTE OUTRIGHT TO OUR BENEFICIARIES: Provides no protection from creditors, predators and from themselves. However, beneficiary is given the right to maintain the property in trust, which may give some protection from creditors and predators.

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 and maintenance). 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. 1/3 at age 30 and balance at age 40. You decide who is the one to manage the property and to carry out your distribution instructions. Does the beneficiary have a right to be a cotrustee and/or choose his or her own cotrustee? You decide how the trust is designed.

Please list your desires

(Use the plus button on the right to add more rows).

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.

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:

Please list them:

(Use the plus button on the right to add more rows).

Other Items To Include Or Discuss

Obviously your estate plan should address all your hopes, fears and wishes please list any other items you want included or want to discuss:

Personal Inventory Guide - Part 2

Worksheet

Personal Information

Spouse's Information

Children

Other Family (Ex. Siblings, Parents, Former Spouses, Grandchildren - If relevant to your Estate Planning)

Advisors

Your Concerns

Important Family Questions

Property Information

Real Property

Furniture And Personal Effects

Automobiles, Boats And RVs

Banks And Savings Account

Stocks And Bonds Or Investment Accounts

Life Insurance Polices And Annuities

Retirement Plans

Business Interests

Money Owed To You

Anticipated Inheritance, Gift, Or Lawsuit Judgment

Other Assets

OPTIONAL PLANNING PROVISIONS

Congratulations! You have completed the Personal Inventory portion of this worksheet.

We have also added another part to this worksheet that makes Smart Planning smoother and easier. Since we require this of my paying clients as well, we have added it to the worksheet.

Design Information

GUARDIAN FOR MINOR CHILDREN

Initial Trustee(s):

Disability Trustee or Successor Trustee

HUSBAND

WIFE

Power Of Attorney

HUSBAND

WIFE

Health Care

HUSBAND

WIFE

Specific Gifts

Providing For The Surviving Spouse Upon Death Of First Spouse To Die

Design Of Marital Share

Design Of Family Share

Division Of Property Upon Death Of Second Spouse To Die

How And When To Distribute My Property

Remote Contingent Beneficiary

Other Items To Include Or Discuss

COMPLETED-THANK YOU

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