PATRICIA A. LEONG. Attorney at Law certified specialist in estate planning & probate law ESTATE PLANNING GUIDE

Transcription

1 PATRICIA A. LEON Attorney at Law certified specialist in estate planning & probate law ESTATE PLANNIN UIDE 3180 CROW CANYON PLACE, SUITE 250 SAN RAMON, CALIFORNIA TELEPHONE (925) FACSIMILE (925) WEBSITE:

2 1. How to use this Estate Planning uide: Estate planning is the process of organizing your financial and personal interests. Each estate plan is unique due to different personal situations and values. Completing this guide as fully as possible will avoid unnecessary delays. As you know, an estate plan will minimize stress on your loved ones during times when they may not be in an emotional state that allows them to make difficult decisions. Where copies of documents are requested, you may not have an opportunity to photocopy these. I will be glad to have copies made for our files, returning the originals to you. If you are not able to find a requested document, let me know, and we can attempt to get the information through other means. Working together, we can use the prevailing laws to your maximum benefit, lower your estate tax burden, and implement a plan that will ensure that your personal wishes are followed. If this questionnaire does not give you enough room to provide the requested information, you may photocopy the page, or turn it over and write on the back. If you have any questions, feel free to call the San Ramon office at (925) Yourself: Full Legal Name Maiden or other names? Home County of Residence Employer Name & Home Number Work Number Mobile Number Date of Birth Place of Birth Social Security Number Military Service Yes No Service Number Are you a US citizen? Yes No The attorney will go over how long it will take to develop the estate plan, including milestones, at the first complimentary meeting. Is there a date Estate Plan required by? No Yes Date Reason Page 2 of 15 / 10.09

3 3. Children: Full Legal Name Other Names Number Work Number Birth date Social Security Number Other Parent Adopted Yes No Yes No Full Legal Name Other Names Number Work Number Birth date Social Security Number Other Parent Adopted Yes No Yes No 4. randchildren: randchild s Full Name Birth date Child s Parents/uardian 5. Other Dependents: Name Relationship Page 3 of 15 / 10.09

4 6. Previous Marriages: Name of previous spouse1. 2. How terminated? Deceased Divorce Deceased Divorce Date terminated Where terminated Was there a written agreement regarding property? Yes No Copy Attached Yes No Copy Attached 7. Advisors: To ensure that your trust covers all assets I sometimes need to contact the following for more information. These same people may contact me regarding your trust. After each please indicate if I may share appropriate information with them. Additionally the information may be useful to your family in the event that they cannot locate it in your records. Attorney Company/Institution Accountant Company/Institution Life Insurance Agent Company/Institution Investment Advisor Company/Institution Inform about trust? Yes No Inform about trust? Yes No Inform about trust? Yes No Inform about trust? Yes No Page 4 of 15 / 10.09

5 Bank/Trust Officer Company/Institution Company/Institution Inform about trust? Yes No Inform about trust? Yes No 8. Executor: An executor is the person you designate to deal with the court if it is necessary. NOTE: In the following sections if you have already written the relationship, address and phone for someone in the above sections, you only need to write their name, you do not need to put in the rest of the information. Executor Relation Work Alternate 1 Relation Work Alternate 2 Relation Work NOTE: Under California law, executors, guardians, and trustees are required to post a surety bond upon taking office. This bond is insurance against the person misusing or absconding with the property entrusted to the person. This bond is paid for by the estate or trust. You have the right to waive the bond if you feel it is unnecessary. Waive bond? Yes No Page 5 of 15 / 10.09

6 9. uardian: You must name a uardian(s) for children under 18 years of age. All Children Yes No (Child) (Child) uardian Full Name Relation Home Work First Alternate Relation Home Work Second Alternate Relation Home Work Page 6 of 15 / 10.09

7 10. Successor: The successor trustee can be the same as the executor. The successor trustee administers your trust upon your death or incapacity. Same as Executor(s) Yes (Do not fill in this section) No (Complete this section) Successor Trustee Relation Work First Alternate Relation Work Second Alternate Relation Work Waive bond? Yes No 11. Cash Assets: Checking: Have Do not have this type of account 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached Savings Have Do not have this type of account 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached Certificates of Deposit (CD) Have Do not have this type of account 1. Institution: Copy attached 2. Institution: Copy attached 3. Institution: Copy attached Page 7 of 15 / 10.09

8 Bonds: Have Do not have this type of account 1. Institution: Copy attached 2. Institution: Copy attached 3. Institution: Copy attached 4. Institution: Copy attached 5. Institution: Copy attached Mutual Funds: Have Do not have this type of account 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached 4. Institution: : Copy attached 5. Institution: : Copy attached Stocks Have Do not have this type of account 1. Institution: Margin Privileges Copy attached 2. Institution: Margin Privileges Copy attached 3. Institution: Margin Privileges Copy attached 4. Institution: Margin Privileges Copy attached 5. Institution: Margin Privileges Copy attached 12. Real Property: 1. : Copy of deed attached County Current Value Mortgage Balance 2. : Copy of deed attached County Current Value Mortgage Balance 3. : Copy of deed attached County Current Value Mortgage Balance 4. : Copy of deed attached County Current Value Mortgage Balance Property/Casualty Insurance Company Policy Number Page 8 of 15 / 10.09

9 13. Retirement Plans/Death Benefit: Please list any pension, profit sharing, stock bonus, self-employed retirement plan, IRA, deferred compensation plan, or any similar type of benefit you may have. To expedite transfer to your trust, please request a Change of Beneficiary form from the company, if they have one. 401K: Have Do not have this type of account 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached Pension: Have Do not have this type of account 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached IRA: Have Do not have this type of account NOTE: IRAs are not transferred to the Trust. Depending on your estate plan, the Trust may be a beneficiary. However, in event that assets need to be located, beneficiaries will usually ask the Estate Planning Attorney. This also provides a check to assure that all accounts are accounted for and none are erroneously transferred. 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached Other: 1. Institution: : Copy attached 2. Institution: : Copy attached 3. Institution: : Copy attached 14. Safety Deposit Box: Have Do not have Bank Box Number Contents Page 9 of 15 / 10.09

10 15. Life Insurance: 1. Institution: Copy attached : Name of Insured Name of Beneficiary(s) Payoff Value Cash Value 2. Institution: Copy attached : Name of Insured Name of Beneficiary(s) Payoff Value Cash Value 3. Institution: Copy attached : Name of Insured Name of Beneficiary(s) Payoff Value Cash Value 4. Institution: Copy attached : Name of Insured Name of Beneficiary(s) Payoff Value Cash Value 16. Liabilities: Please list any loans or debts outstanding. Description Approximate Value Page 10 of 15 / 10.09

11 17. Please Provide the Following Documents: Existing Will and/or Trust Attached N/A Previous attorney has original Name, and of attorney of previous Will or Trust, if not on document. Pre or Post Nuptial Agreements Buy/sell or Redemption Agreements Citizenship Papers Military Service Divorce Agreements, division, support Attached N/A Attached N/A Attached N/A DD214 Current/Final LES Discharge N/A Attached N/A 18. Business Interests: Business Name I own % Estimate of FMV of your share Type of Legal Entity Corporation Partnership Sole Proprietorship If a corporation, is it an "S" corporation? Yes No Do you plan to dispose of business in your lifetime? Yes No What are your wishes as to disposition of ownership after your death? Transfer to family Sale to co-owner Sale to key employee Other Is there a buy/sell or redemption agreement? 19. Miscellaneous Assets: Please list any assets over $10,000 not previously listed. Such as boat, jewelry, artwork: Description Approximate Value Page 11 of 15 / 10.09

12 20. Inheritance and ifts Do you expect to inherit or be gifted property, business or other asset: No Yes (Describe) 21. To whom do you wish to leave your assets? Name Asset 22. Is there anyone you would specifically like to exclude from inheriting your estate? Name 23. How would you like your Estate distributed. To children equally % at age % at age % at age If no children to grandchildren % at age % at age If there are no descendants to: Relatives Other Page 12 of 15 / 10.09

13 24. Specific Bequests: Are there any specific items that you wish to designate to go to a certain person? (Example; artwork, family heirlooms): Name Relation Home Work Items: 25. Do you wish to make any charitable contributions? None Yes To whom or what amount 26. Financial Power of Attorney: If you were incapacitated, is there anyone you can trust to handle your financial affairs? I can prepare a financial power of attorney that would give another person the right to act as your agent. You can also designate a backup agent in case the first cannot serve. Agent Relation Work Alternate Relation Work Page 13 of 15 / 10.09

14 Alternate Relation Work 27. Medical Power of Attorney: Who do you want to make health care decisions if you cannot? Agent Relation Work Alternate Relation Work Alternate Relation Work 28. Health Care Decisions: The decision on what life sustaining measures to take is a personal one and the attorney will be glad to discuss this issue with you further if needed. No matter what you choices are, it is highly recommended to discuss your desires with your health care agent and alternates, so that both you and they are comfortable that the wishes are understood and will be carried out. The guidelines to agents for life sustaining measures are generally as follows. Select those following items that you feel most closely reflect your desires. To authorize the agent to use any medical means to sustain life without regard to cost, physical or mental condition or likelihood that such measures will be successful. NOTE: This is the automatic level of care. Licensed medical personnel are obligated to sustain life no matter what your wishes may be until legally advised of your desires by yourself or designated agent. To give the agent the greatest amount of latitude of choices possible to continue, withdraw or not initiate extraordinary medical means to sustain life. Page 14 of 15 / 10.09

15 To authorize the agent to not continue life sustaining measures if advised by medical authority that condition is terminal, that the most that can be done is possibly delay death. To authorize the agent to consider the physical quality of life and amount of resources in making medical decisions regarding withdrawing or not initiating treatment. To authorize the agent to consider mental condition if life sustaining treatment will result in biological existence only. Can your agent authorize an autopsy? Can your agent authorize donation of organs? Would like to discuss one or more of these issues further. If you need more information on this sensitive topic(s), we can provide additional information to help you reach an informed decision. Do you have any specific desire as to what is to be done with your remains? For example, do you wish to be buried or cremated? Is there a particular location where you wish to be interred? None Yes If you are eligible do you want military funeral honors? Yes No Doctor or Health Provider that has your medical records: Name Do you have any allergies, infections that would preclude blood transfusion, or any other medical condition that medical personnel should be aware of? None Yes Page 15 of 15 / 10.09