8. Checklist for a Discretionary Testamentary Trust and Other Estate Planning Documents

Transcription

1 8. Checklist for a Discretionary Testamentary Trust and Other Estate Planning Documents This form will be used in conjunction with a personal discussion with TressCox to draw up a Testamentary Trust Will and other Estate Planning documents that reflects your wishes. In considering your Estate Planning requirements, it is important to consider the following factors which will form the basis of your instructions:. What assets do I have now and potentially in the future to dispose of under my Will?. What assets are in trusts and superannuation funds?. Who do I wish to appoint as Executor to administer my Estate?. Who do I wish to appoint as guardian of my minor children?. Who do I wish to appoint as Trustee(s) of the Testamentary Trust(s)?. Who do I wish to appoint as Appointor(s) of the Testamentary Trust(s)? 7. Who are the Primary Beneficiaries of the Testamentary Trust(s)? 8. Who are the Secondary Beneficiaries of the Testamentary Trust(s)? 9. Who are the Tertiary Beneficiaries of the Testamentary Trust(s)? Please complete the following details and return to: 08_.DOC Michael Heraghty TressCox Lawyers GPO Box 708 SYDNEY NSW 00 Tel: Mobile: Fax: michael_heraghty@tresscox.com.au

2 Giving thought to the above considerations and providing us with information requested about yourself, your family and your assets, will enable you and your TressCox Client Adviser to put together the details necessary to prepare your Estate Planning documents. 08_.DOC

3 - - CONTENTS I. Personal II. Your Family III. Your Assets IV. Testamentary Trust Will V. General Instructions IMPORTANT DECLARATION I DECLARE that these instructions for preparation of my Will: Please tick appropriate box Should revoke any former Will and take effect as my Will if I die before signing my formal Will OR Are only for the purpose of preparing a draft which I may change or alter upon receipt. DATED... First Witness:... Signature: Print Name:... Second Witness:... Signature: Print Name:... Note: Witnesses must be over 8 years of age and must not be a beneficiary named in the Will or the spouse of a beneficiary named in the Will. 08_.DOC

4 - - I. PERSONAL YOUR DETAILS: Surname: Given names: Maiden name/any alias: Marital status: Single Engaged Married DeFacto Separated Divorced Widowed Date of marriage: Date of birth Place of birth: Description of Occupation for Will (e.g. Company Director, Doctor, Home Duties): Residential address: Postcode: Postal address: Postcode: Telephone: (home) (work) Pension type: YOUR CURRENT PARTNER/SPOUSE/DE-FACTO DETAILS: (Ignore this section if your spouse or de facto is completing a separate form) Surname: Maiden name/any alias: Given names: Marital status: Single Engaged Married DeFacto Separated Divorced Widowed Date of birth: Place of birth: Description of Occupation for Will (e.g. Company Director, Doctor, Home Duties): Residential address: Postal address: Telephone: (home) Pension type (work) Postcode: Postcode: Note: If there has been any previous marriage/s or long term relationship/s the section above should be completed for each partner. 08_.DOC

5 - - II. YOUR FAMILY YOUR FAMILY DETAILS: As well as details of nominated beneficiaries, the particulars of any previous spouse(s), children, children formally or informally adopted, stepchildren, former or current dependants and guardians MUST BE provided, whether or not you intend to benefit these people. This information is important to identify likely actions or claims against your estate. Name Address Relationship YOUR PARTNER S FAMILY DETAILS Please complete if information differs from that above. Name Address Relationship PARTICULARS OF SEPARATION OR DIVORCE: What was the date of your separation? / / If you divorce has been finalized, what was the date? / / Has there been or is there currently a property settlement to be determined Yes No If YES, full particulars are needed, such as: (a) Has the settlement been sealed or is the settlement to be sealed in the Family or Magistrates Court? Yes No (b) Have the terms of the settlement been carried out? Yes No If NO, please provide particulars of what is to be completed: (c) Is maintenance payable for the spouse? Yes No (d) Is maintenance payable for the children: Yes No (e) Who are the solicitors acting (if any)? s08_.doc/mh/aj

6 - - III. YOUR ASSETS REAL ESTATE Specify if held as joint tenants or tenants in common Address Date purchased Purchase price Value $ $ $ $ $ $ $ $ $ $ OWNERSHIP: Joint Tenants Yes No Tenants in Common: Yes No With Whom: Title deeds held by: Safe Custody Box/Packet At: Please provide a copy of the Certificate of title OWNERSHIP: Joint Tenants Yes No Tenants in Common: Yes No With Whom: Title deeds held by: Safe Custody Box/Packet At: Please provide a copy of the Certificate of title OWNERSHIP: Joint Tenants Yes No Tenants in Common: Yes No With Whom: Title deeds held by: Safe Custody Box/Packet At: Please provide a copy of the Certificate of title s08_.doc/mh/aj

7 - 7 - OWNERSHIP: Joint Tenants Yes No Tenants in Common: Yes No With Whom: Title deeds held by: Safe Custody Box/Packet At: Please provide a copy of the Certificate of title OWNERSHIP: Joint Tenants Yes No Tenants in Common: Yes No With Whom: Title deeds held by: Safe Custody Box/Packet At: Please provide a copy of the Certificate of title SUPERANNUATION: Fund Policy holder Nominated beneficiary Binding Non Binding Please provide a copy of the superannuation deed and any written nominations made LIFE INSURANCE: Policy Life insured Company Assured/Owner: Nominated beneficiary Please provide copies of life insurance schedules ACCOUNTANT: FINANCIAL ADVISER: 08_.DOC

8 - 8 - Estimated or known value FURNITURE: $ JEWELLERY: $ BANK ACCOUNTS: Bank Branch Account No $ $ $ CASH MANAGEMENT FUNDS: Estimated or known value SHARES/UNITS/TRUSTS/DEBENTURES: Company No of shares Cert. No Purchase date & Price Estimated or known value Unit Trusts No of shares Cert No Purchase date & Price Property Trusts No of shares Cert No Purchase date & price Debentures Interest Maturity Mortgages Principal Maturity Government Stocks Rates Maturity 08_.DOC

9 - 9 - OTHER INTERESTS: Family Trust Business Estimated or known value Please provide a copy of your family trust deed and all amending deeds Private Companies (ACN Number) No of shares Type Shares in partnerships Overseas assets Interest in estates/settlements Motor vehicles/boats/caravans Type: Reg No Purchase date Other (please specify) Estimated or known value ESTIMATED VALUE $ AMOUNT LIABILITIES Mortgage over real estate Personal loans Bank overdraft Other Estimated Value Assets Financier Amount of loan Outstanding 08_.DOC

10 - 0 - Please tick appropriate box. Do you have a Will? (If so, please send a copy) Yes No. Are all your assets located in the state you live in Yes No If NO, where? Other Australian states Other countries APPOINTMENT OF EXECUTOR Executor Name: Address: Occupation Alternate Executor # Name Address Occupation Alternate Executor # Name Address Occupation 08_.DOC

11 - - IV. TESTAMENTARY TRUST WILL A. Do you wish your estate to pass r spouse if your spouse survives you? This will mean that the Testamentary Trust will not come into effect if your spouse survives you. Please tick appropriate box Yes No B. Do you want one pooled testamentary trust where all your Primary Beneficiaries are grouped together or do you want separate testamentary trusts for each main Primary (ie, your children) so the assets are split equally and placed into a separate trust for each main Primary? Pooled Trust Separate Trust C. Please list the name(s) you would like to call your Testamentary Trust(s). For example, for a pooled trust The Smith Family Testamentary Trust or for a separate trust The Joe Bloggs Settlement. Pooled Trust: Trust Name Separate Trusts: Trust Name Child Name % of share Age Example: Joe Bloggs Settlement Joe 0% D. Please List the groups of beneficiaries to be noted as Primary Beneficiaries of your Testamentary Trust(s). For Example, your spouse (if your answer to paragraph A above was No), your children, grandchildren and grandchildren. Pooled Trust: Name of Primary Address of Primary Age Relationship s08_.doc/mh/aj

12 - - Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of your pooled trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes Separate Trusts: Trust Name: Name of Primary Address of Primary Age Relationship Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes Trust Name: Name of Primary Address of Primary Age Relationship Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes Trust Name: Name of Primary Address of Primary Age Relationship 08_.DOC

13 - - Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes Trust Name: Name of Primary Address of Primary Age Relationship Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes Trust Name: Name of Primary Address of Primary Age Relationship Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes 08_.DOC

14 - - Trust Name: Name of Primary Address of Primary Age Relationship Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes E. Please List the groups of beneficiaries to be noted as Secondary Beneficiaries of your Testamentary Trust(s). Please note that the Secondary Beneficiaries will not benefit under the Will whilst any of the Primary Beneficiaries are alive. Pooled Trust: For Example, other family such as parents, brothers, sisters, etc Name of Secondary Address of Secondary Age Relationship Separate Trusts: For Example, your other children and their family Trust Name: Name of Secondary Address of Secondary Age Relationship 08_.DOC

15 - - Trust Name: Name of Secondary Address of Secondary Age Relationship Trust Name: Name of Secondary Address of Secondary Age Relationship Trust Name: Name of Secondary Address of Secondary Age Relationship 08_.DOC

16 - - Trust Name: Name of Secondary Address of Secondary Age Relationship Trust Name: Name of Secondary Address of Secondary Age Relationship F. Please List the groups of beneficiaries to be noted as Tertiary Beneficiaries of your Testamentary Trust(s). These are normally your extended family or a charity. Please note that the Tertiary Beneficiaries will not benefit under the Trust until all of the Primary and Secondary Beneficiaries have died. Pooled Trust: Name of Tertiary Address of Tertiary Age Relationship 08_.DOC

17 - 7 - Separate Trusts: Trust Name: Name of Tertiary Address of Tertiary Age Relationship Trust Name: Name of Tertiary Address of Tertiary Age Relationship Trust Name: Name of Tertiary Address of Tertiary Age Relationship 08_.DOC

18 - 8 - Trust Name: Name of Tertiary Address of Tertiary Age Relationship Trust Name: Name of Tertiary Address of Tertiary Age Relationship Trust Name: Name of Tertiary Address of Tertiary Age Relationship 08_.DOC

19 - 9 - G. Please list the Trustees of the Trust(s). The Trustee will be responsible for administering the Trust(s). You can appoint one or more Trustees and a beneficiary can be nominated as a Trustee. Pooled Trust Name of Trustee Address of Trustee Separate Trusts: Trust : Name of Trustee Address of Trustee Trust : Name of Trustee Address of Trustee Trust : Name of Trustee Address of Trustee 08_.DOC

20 - 0 - Trust : Name of Trustee Address of Trustee Trust : Name of Trustee Address of Trustee Trust : Name of Trustee Address of Trustee H. Please list the Appointors of the Trust. The Appointors will be responsible for making sure the Trustees are acting in accordance with your wishes and have the power to remove and replace the Trustee. You can appoint one or more Appointor and a beneficiary can be nominated as an Appointor. The Appointor can also be the same person as the Trustee. Pooled Trust Name of Appointor Address of Appointor 08_.DOC

21 - - Separate Trusts: Trust : Name of Appointor Address of Appointor Trust : Name of Appointor Address of Appointor Trust : Name of Appointor Address of Appointor Trust : Name of Appointor Address of Appointor 08_.DOC

22 - - Trust : Name of Appointor Address of Appointor Trust : Name of Appointor Address of Appointor 08_.DOC

23 - - V. GENERAL INSTRUCTIONS If you intend to make any specific gifts of money, real estate, jewellery and special items prior to the establishment of the trust(s), please provide a full description of the intended gifts as well as the full names and the relationships of the persons receiving them. SPECIAL GIFTS OF MONEY Name of beneficiary Address Relationship Amount SPECIFIC ASSETS Name of beneficiary Address Relationship Items Note: Should there not be enough space to cover all items above, please furnish on a separate list. REAL ESTATE GIFTS Name of beneficiary Address Relationship Property Address and Title particulars If there is a mortgage over the property is the Free of the Subject to beneficiary to take the gift mortgage the mortgage If any beneficiary is under 8 years, please state at what age you wish them to inherit. AGE. s08_.doc/mh/aj

24 - - OTHER INSTRUCTIONS Where unusual instructions are involved, such as: unequal split of assets between the trusts for each of your children the omission of a spouse or child as a beneficiary a de facto relationship a life interest to be created any beneficiary likely to be unable to manage their financial affairs for any medical or other reason Please note your wishes below GUARDIAN OF INFANT CHILDREN Do you wish to nominate a guardian for your infant children? Yes No If YES, please nominate: Name Address Relationship 08_.DOC

25 - - FUNERAL ARRANGEMENTS If you want to specify funeral instructions in your Will, please tick the appropriate box. Burial. Cremation. Other. Prepaid funeral SPECIAL PROVISIONS POWER OF ATTORNEY Attorney: Name: Address: Occupation: Co-Attorney: Name: Address: Occupation: ENDURING GUARDIAN Name: Address: Occupation: Name: Address: Occupation: 08_.DOC