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Quiz For The Spouse Life insurance


									                             Quiz For The Spouse
Do You Have Or Know Where To Find (without asking your spouse)

  1.    Your birth certificate?                                  YES   NO
  2.    Your spouse’s birth certificate?                         YES   NO
  3.    Birth certificates for each child?                       YES   NO
  4.    Your marriage license or certificate?                    YES   NO
  5.    Divorce decrees or death certificates
        regarding any prior marriage?                            YES   NO
  6.    Records showing title to the family
        Real estate and the cost basis adjusted
        For improvements and depreciation?                       YES   NO
  7.    Real and personal property tax receipts?                 YES   NO
  8.    Income tax returns for the past four years?              YES   NO
  9.    Title to your cemetery lot or mausoleum, if any?         YES   NO

Do You Know Or Know Where To Find (without asking your spouse)

  10.   Titles to automobiles, boats, motor, etc.?               YES   NO
  11.   Your social security number?                             YES   NO
  12.   Your spouse’s social security number?                    YES   NO
  13.   Social security numbers for each of your children?       YES   NO
  14.   Where your spouse keeps life insurance policies?         YES   NO
  15.   A list of the life insurance policies on your spouse’s
        life, including group insurance and insurance through
        other sources?                                           YES   NO
  16.   The face value (less loans) on all insurance on your
         spouse’s life on January 1 of this year?                YES   NO
  17.   The name and address of the life insurance agent
         for your spouse?                                        YES   NO
  18.   The premiums, due dates, and beneficiary designations
         on life insurance?                                      YES   NO
  19.   Similar information on the life insurance on your life
         and the lives of your children?                         YES   NO
  20.   What medical, accident, and health insurance your
         family owns?                                            YES   NO
  21.   The nature, coverages, premiums, and due dates on all
         property and liability insurance?                       YES   NO
  22.   The name and address of the insurance broker that
         handles your casualty insurance?                        YES   NO
  23.   The life, accident, health and other group insurance
         from your spouse’s (or your) employment?                YES   NO
  24.   The amount of social security benefits you and your
         children will receive upon your spouse’s death?         YES   NO
  25. A list of all the benefits to which you, your spouse
      or your children may be entitled, based upon your
      spouse’s military service?                                   YES   NO
  26. The market value of your spouse’s assets on
       January 1 of this year?                                     YES   NO
  27. The market value of your separate assets on
       January 1 of this year?                                     YES   NO
  28. The market value on January 1 of this year of all
        real estate, stocks, corporate bonds, and government
        bonds, and other property owned with your spouse
        (or anyone) in any form of joint ownership?                YES   NO
  29. The location and number of any safe deposit box in
       your spouse’s name, your name, or joint names?              YES   NO
  30. The location of the keys to the safe deposit boxes and
       the parties who have access thereto and the passwords?      YES   NO
  31. All family bank accounts, including the banks, the titles
       of the accounts, and the persons who have powers
       of attorney?                                                YES   NO
  32. Where your spouse’s Will is kept?                            YES   NO
  33. The contents of your spouse’s Will, including the name
       of the personal representative?                             YES   NO
  34. Whether you have power of appointment under your
       spouse’s Will or any other instrument?                      YES   NO
  35. The name and address of the attorney who drew the
       Will or should represent the estate? (You should
        know him or her personally.)                               YES   NO
  36. The name and address of the accountant whom your
       spouse employs on personal affairs?                         YES   NO
  37. The name and address of the preparer of your tax returns?    YES   NO
  38. Your spouse’s principal banking contact?                     YES   NO
  39. The names of the stockbrokers you and your spouse use?       YES   NO
  40. The approximate family income for the last year?             YES   NO
  41. Your spouse’s general business interests, including
       percentage of ownership, rights upon death or the death
       of an associate, and whether such businesses are operated
       as corporations, partnerships, or sole proprietorship?      YES   NO
  42. The desires of your spouse, and you, for the disposition
       of any closely held business?                               YES   NO

Do You And Your Spouse Have:

  43. At least $100,000 of liability coverage on your
      automobile?                                                  YES   NO
  44. Up-to-date beneficiary provisions on life insurance that
      have been reviewed within the last three years?              YES   NO
  45. Current Wills (or Wills and Trusts)?                         YES   NO
      This includes:
     1. Have they been reviewed in the past two to three years
             or since new circumstances have arisen?               YES   NO
     2. Currently acceptable personal representatives,
             trustees, and testamentary guardians named in
             your Wills?                                           YES   NO
     3. An estate plan that has considered taking advantage
             of the marital deduction if gross family assets,
             including life insurance and joint property, exceed
             $600,000.                                             YES   NO
 46. An estate plan that has considered gifts to your children
     to minimize your income and estate taxes, finance their
     education, and start building their estates?                  YES   NO
 47. Fire insurance on your home and contents that has been
     checked within the last two years for the amount of
     coverage and the type of policy?                              YES   NO
 48. An appraisal listing of your tangible personal property?      YES   NO
 49. An appropriate amount of insurance on your jewelry,
     furs, and art objects based on recent appraisals?             YES   NO
 50. Adequate personal and household liability insurance?          YES   NO
 51. Knowledge of the possible gift tax liability for your home,
     bank account, securities or other assets placed in your
     joint names?                                                  YES   NO
 52. Complete understanding and acceptance of one another’s
     estate plan?                                                  YES   NO

            YES=                                          NO=
    0-12 YES: Terrible. Don’t sit there. Rush to your spouse and demand answers.

    13-22 YES: Average. That doesn’t mean “GOOD”. You need more information

    23-32 YES: Well above average, but you still know only about half of what you
                should know. Ask-soon.

    33-42 YES: Remarkable. You are among the very best informed spouses a
                             fraction of 15% of the total.

    43-52 YES: Go to your spouse’s office and take over. Hurry- you are better than
                he or she is.

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