Get documents about "International Estate Planning Questionnaire
Description
International Estate Planning Questionnaire document sample
Document Sample
ESTATE PLANNING
QUESTIONNAIRE
Russell J. “Jack” McCann
McCann, Hubbard & Solomon
1804 Williamson Court, Suite 201
Brentwood, Tennessee 37027
Office: 615-377-3319
Fax: 615-377-0644
jack@mhslawfirm.com
GENERAL INFORMATION
Please print or type all information.
HUSBAND WIFE
Full Name
Residence Address
City, State, Zip
County
Citizenship*
Email address
Residence Telephone
Employer/Business Name
Position
Annual Salary/Commissions
Business Telephone
Birth Date
Place of Birth
Social Security Number
Marriage Date: Place:
Legal names as you sign them:
(ex: Russell J. McCann)
Husband previously married? ______ Prior children? _______ **
Wife previously married? ________ Prior children? ________ **
* It is very important to plan carefully for tax and property consequences that may result from any interstate or
international aspects of your estate. If you travel extensively or own residential property in more than one
jurisdiction, please be prepared to discuss your view regarding what you consider to be your principal residence.
** For each prior marriage of either spouse, indicate name of whether prior spouse is living and if there are children
from the prior marriage. Please let me know if the divorce decree requires special provisions under the Will.
2
Information on children and grandchildren is important for several reasons. For example, first, it can assist
in determining whether gifts to children should be outright or in trust. Second, it can help when the
draftsperson is considering the use of a trust (such as an irrevocable life insurance trust) which requires the
use of Crummey/Demand powers to qualify gifts to the trust for the annual exclusion. Third, it is quite
helpful in planning the generation-skipping transfer tax, both in terms of the allocation of the $1 million GST
exemption and in determining if the bump-up rule of IRC Section 2612(c)(2) applies when there is a
predeceased child.
List children in order of birth, indicate if any deceased.
Name of Child Address Birth Date If Child is Married
Spouse’s Name
1.
2.
3.
4.
5.
6.
Do you have any deceased children? ______ If yes, did they leave children or a spouse? _______.
Do you desire to skip your children and bequeath assets to grandchildren either directly or in trust? ________
Are you currently making annual gifts to or for the benefit of any child or grandchild?_______
If so, reference the beneficiaries by the above numbers: _______________________________.
DEFINITIONS
Executor: That person who will file the Will for probate, and who will manage your estate for the probate period
(usually one year or less). Generally the surviving spouse is the first choice Executor, but it does not have to be that
way.
Guardian: That person or couple who will have responsibility to raise your children if both spouses die or are
incapacitated. There are no rules about who must be guardian; you can choose friends instead of family members,
and vice versa.
Trustee: That person or persons or company that will manage the financial assets for the benefit of your spouse
and/or children until such time as distribution of all assets to the children.
DPOA: Durable Power of Attorney for finances. In the event you are temporarily or permanently mentally
disabled, there must be a named person, persons, or trust company to pay bills, borrow money for medical needs, or
sell assets for medical or family needs. First choice is typically a spouse, but we need backups.
HPOA: Health Care Power of Attorney. In the event you are temporarily or permanently disabled, there must be a
named person or persons to make minor and major medical decisions including electing or refusing treatments, or
electing hospice care instead of hospital care.
Living Will: If you are being kept alive artificially, with no hope of recovery, this instrument states your desire to
either terminate life support or continue life support, and to either make organ donations or to not make organ
donations.
3
1. a) If your children are minors, provide a first choice guardians:___________________________
b) Provide a second choice guardians: __________________________________
2. a) If children are minors, provide a first choice trustees: _______________________________
b) Provide a second choice trustees: __________________________________
c) Provide a third choice trustees: __________________________________
3. If you and your spouse both die while the children are minors, and the children are brought up by the Guardians
and Trustee, at what ages after college would you want each child's share of his or her trust assets be paid out to that
child? (Example: pay out in thirds at ages 25, 30, and 35)
_____________________________________________________________________________
4. If all of you: you, your spouse, your children, and their children passed away, to whom or what would you want
to receive your cash and property? Would it be charities and/or individuals? What dollar amounts or percentages?
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
5a) Husband: Whom do you wish to have as your first choice agent for your DPOA? ___________________; who
for your second choice? _____________________________.
5b) Wife: Whom do you wish to have as your first choice agent for your DPOA? _______________________; who
for your second choice? _________________________.
6a) Husband: Whom do you wish to have as your first choice agent for your HPOA? ___________________; who
for your second choice? _____________________________.
6b) Wife: Whom do you wish to have as your first choice agent for your HPOA? _______________________; who
for your second choice? _________________________.
7a) Husband: For your Living Will, do you desire to make organ donation? _______
7b) Wife: For your Living Will, do you desire to make organ donation? ________
8. Who is your first choice Executor? _________________, Second Choice? ______________
Third Choice? __________________________
Do you or your spouse have any disabled children or relatives for whom we need to provide? Any other individuals
to be considered in the estate plans?
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
4
FINANCIAL DATA
HUSBAND WIFE
Personal Banker
Bank
Accountant
Stock Broker
Firm
Property Insurance
Company
Life Insurance Agent
Physician
Safe Deposit Box?
Location?
Any family attorney?
Name
Firm
Phone:
(1) List houses and any other real estate you own:
Description & Location Title in Whose Name Purchase Price Current Value (-) Mortgage (=) Equity
Total Net Value =
(2) Do you or your spouse own a business or have any partnership interests?
Description Type of Ownership Purchase Price Current Value
Total Value =
5
(3) Do you own any other titled property such as a cars, boats, motorcycles, airplanes, etc...?
Description Title in Whose Name Purchase Price Current Value (-) Loan (=) Equity
Total Net Value =
(4) Please list checking accounts, savings accounts, money markets, CDs:
Name of Institution Account Number Titled in whose name Approx. Balance
Total Net Value =
6
(5) Do you own any stocks, bonds, mutual funds, or other investment accounts?
# of Shares Description Account Number Titled in whose name Purchase Price Avg Return Current Value
Total Value =
(6) Do you have any profit sharing, IRAs, 401Ks, 403Bs, Keoughs, SEPS, or pension plans?
Description/Location Beneficiary Average Return Current Value
Total Value =
(7) Does anyone owe you money (other than monthly rental payments)?
Description Approx. Value
Total Value =
(8) Do you have any special items of value such as coin collections, antiques, jewelry, etc...?
Description Approx. Value
Total Value =
7
(9) What is the approximate total value of all your remaining personal property - whatever you own that has not
been included above? (Clothes, Furniture, etc...) Just Estimate..............
Personalty Value =
(10) Do you have any OTHER debts other than mortgage(s) and loan(s) already listed above? (Such as credit cards,
personal loans, student loans, etc...?)
Description of Debt/Loan Amount Owed
Total Other Debt =
(11) WHAT IS YOUR NET WORTH ? (Add total equity from tables 1through 9 and subtract the debt in table 10):
Net Worth =
(12) Total Value of Life Insurance if both you and your spouse die:
Total Life Ins =
Policies:
Insured Owner Beneficiary Company Value Perm or Term
Wrap-up:
Are you or your spouse expecting to inherit an estate of $100,000.00 or more within the next five years? _________.
Any special questions or concerns not already addressed in this document? ________________
____________________________________________________________________________
In which state do you currently reside? _________________________
In the next ten years do you plan to move to Florida, California, or New York? _________________
8
