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What is cost to get a term Life Insurance policy,
in California
In the other 50 States.
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ESTATE PLANNING
QUESTIONNAIRE
Before anyone starts on the creation of an estate
plan it is important, indeed it is critical, that the person be aware of both
the size of the estate and how it ultimately is to be distributed. There are a
variety of available ways to accomplish the desired result, but they should all
begin with the person knowing what the desired result. The purpose of this
questionnaire is to assist the reader in marshalling (assembling) the assets for
the twin purposes of evaluating the size of the estate and also to avoid missing
or overlooking assets. Assets left out of an estate plan, regardless of the
reason, will have to be probated unless they fall into a state's exemptions from
probate such as being in joint tenancy or in a trust of some type.
The use of such an estate planning questionnaire
cannot be over-stressed. It is not uncommon for a person to forget a piece of
property inherited years earlier from old Uncle Bill in Tulsa or Aunt Emily in
Maine. Then after death, the person's heirs discover the existence of the
forgotten property. Thereafter, the heirs are forced to spend thousands of
dollars needlessly to probate the property to place the title in their names.
Unless a person knows the size of his estate, it is
difficult to make an accurate estate plan. If gifts figure in the estate plan,
the person must know how much to give to reduce the estate's value below the
value of the unified credit.
Click here to find out how much would it cost to get a term Life Insurance policy,
in California
In the other 50 States.
This questionnaire is structured to help recall to
mind any forgotten assets and serves as a guide to the executor, trustee or
heirs as to where property is located. This questionnaire is needed even if the
person knows the extent of his property, and where it is going. In any event,
this form does make decisions easier for the heirs when they use it. Use of the
questionnaire also tends to prove the competency of the person to make an estate
plan. In any Will or trust contest, use of this schedule would be evidence
demonstrating that the person used deliberate care in drafting the estate plan.
Such evidence, in any competency challenge, would be beneficial.
ESTATE PLANNING QUESTIONNAIRE
A. BACKGROUND INFORMATION
1. Name (include all other names once used, i.e.
maiden) __________________________
2. Address and phone number (home and business)
___________________________________________________________
3. Employer's name, address and phone number:
______________________________________________________________
4. Spouse's employer's name, address and phone
number: ______________________________________________________
________________________________________
5. Occupation:____________________________
6. Spouse's occupation:__________________
7. Social security number:___________________
8. Spouse's social security number:___________
9. Former military service (branch and dates of
service): ______________________________________________________
_______________________________________
___________________________________________
10. Date and place of birth:___________________
11. Name of spouse:_________________________
12. Date and place of spouse's birth: _____________
____________________________________________
13. Date and place of marriage: ____________
__________________________________________
14. Length of residency in the state:
____________________
______________________________________
15. Previous marriages for each spouse: _____________
__________________________________________________
_____________________________________________
_________________________________________
16. Children:_______________________________
_________________________________________
_____________________________________________
17. Children of spouse (step-children):__________
__________________________________
______________________________________________________
18. Deceased children: _____________________
_____________________________________________
19. Grandchildren:_________________________
20. Grandchildren of spouse: ___________________
______________________________________________________
21. Parents and address:
_________________________________
______________________________________________________
______________________________________________________
______________________________________________________
22. Parents of spouse and address:
_______________________
______________________________________________________
______________________________________________________
______________________________________________________
23. Last will:
a. Date executed:___________________________________
b . Location of original: __________________________
_________________________________________________
c. Attorney who prepared will, address, phone: _____
_________________________________________________
_________________________________________________
B. PROPERTY
1. Real property (for each piece of real property
state):
a. (1) Type of property:
_______________________________
_________________________________________________
(2) Location of property:
___________________________
_________________________________________________
(3) Holder and amount of liens on the
property:______
_________________________________________________
(4) Fair market value of the property not deducting
for the liens: ______________________________________
(5) Date of purchase and original amount:
___________
_________________________________________________
(6) How is title to the property taken? (What does it say on
the deed? separate property, joint tenancy,
tenancy in the entirety, tenancy in common):
________________________________________
b. (1) Type of property:
_______________________________
(2) Location of property:
___________________________
_________________________________________________
_________________________________________________
(3) Holder and amount of liens on the property:
_________________________________________________
(4) Fair market value of the property not deducting
for the liens: ______________________________________
_________________________________________________
(5) Date of purchase and original
amount:____________
_________________________________________________
(6) How is title to the property taken? (What does it say on
the deed? separate property, joint tenancy,
tenancy by the entirety, tenancy in common):
__________________________________________
_________________________________________________
c. (1) Type of property:
_______________________________
(2) Location of
property:____________________________
_________________________________________________
(3) Holder and amount of liens on the property:
_____
_________________________________________________
(4) Fair market value of the property not deducting
for the liens: ______________________________________
Source
MICHAEL LYNN GABRIEL,
Esq.
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Click here to find out how much would it cost to get a term Life Insurance policy,
in California
In the other 50 States.
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