Personal Estate Planning Course Record Book
RECORDBOOKPersonal EstatePlanning Course
:: getorganized3 Reasons You Should StartUsing This Record Book ---------------------------------You owe it to yourself and your family to complete your personal estate planning record. Keepin mind that as you progress with your estate planning, your attorney should counsel you on allaspects of your plans as well as draft all legal documents. Of course, we would also be happy toassist you with your charitable intentions at the outset or after you have completed your record.!Good to Know!If you’re married orpartnered, you andyour spouse shouldprepare separaterecord books. Whilesome sections containshared information,most sections aredistinctly personal.Plus it makes it easierfor loved ones tomanage your uniqueaffairs over time. Foradditional copies ofthis record book, pleasecontact us.Your record provides importantpersonal information aboutyou and your family that willbe helpful to your executor (personalrepresentative) when it comes time tosettle your estate. Your executor will beable to locate beneficiaries, your safedeposit box, abstracts, titles, stock orbond certificates, will, trust agreementsand other important documents.1Your record serves as the basisfor creating your estate planand providing for the futurewell-being of your family and the causesyou care about most. It will show youwhat constitutes your estate and whatyour beneficiaries can inherit. It willprompt you to consider the dispositionof your assets. Will your assets pass byjoint ownership? Are they documentedfor distribution in some other way? Ormust you address their distribution inyour will? If you have not yet made a will,you will find it easier to do so with thisinformation at hand.2Your record also serves as abasis from which to determinewhat your estate taxes wouldbe under various plans of distribution.Knowing the assets and the values tobe considered will help you and youradvisors find ways to minimize estatetaxes and identify liquid assets to coverestate settlement expenses.3How to UseThis Record BookStep 1: To complete the forms, simply clickinside the blue boxes. Begin typing to fill themin with the appropriate information.*Step 2: To save your work, go to the File menuand select “Save As.” Rename the file using aunique file name or the date and save it to yourdesktop or another easy to access location. (Byrenaming the file, you will be able to use theoriginal record book file again and again.)Step 3: When you are finished, print thecompleted records and keep them in a secureplace, such as a safe-deposit box.*You may also print the forms and fill them out by hand.
recordbook page 3You:: trackpersonalinfoYour name (Please print above.)AddressCity, State ZIPHome phone/cell phoneEmailDate of birth/birthplaceLocation of birth certificateLocation of adoption documentsSocial Security numberDriver’s license number and stateLocation of tax recordsLocation of titles, abstracts and leasesLocation of stock and bond certificatesMilitary service, branch, years of serviceLocation of military documentsFirst spouse’s nameDate of first marriage/location of certificatePrenuptial agreement/location of documentContinued on Page 4
You:: trackpersonalinfoDate of divorce, annulment, legal separation or death (Please print above.)Location of documentsSecond spouse’s nameDate of second marriage/location of certificatePrenuptial agreement/location of documentDate of divorce, annulment, legal separation or deathYour ParentsLocation of documentsMother’s nameAddressCity, State ZIPHome phone/cell phoneEmailDate of birth/birthplaceLocation of birth certificateDate of death/resting placeLocation of death certificateSocial Security numberFather’s nameAddressContinued on Page 5
recordbook page 5Your Parents:: trackpersonalinfoCity, State ZIP (Please print above.)Home phone/cell phoneEmailDate of birth/birthplaceLocation of birth certificateDate of death/resting placeLocation of death certificateYour SpouseSocial Security numberSpouse’s nameMaiden nameDate of birth/birthplaceLocation of birth certificateSocial Security numberYour ChildrenDriver’s license number and stateFirst child’s name/phone numberDate of birth/birthplaceLocation of birth certificateLocation of adoption documentsContinued on Page 6
Your Children:: trackpersonalinfoSocial Security number (Please print above.)Driver’s license number and stateSecond child’s name/phone numberDate of birth/birthplaceLocation of birth certificateLocation of adoption documentsSocial Security numberDriver’s license number and stateThird child’s name/phone numberDate of birth/birthplaceLocation of birth certificateLocation of adoption documentsSocial Security numberDriver’s license number and stateFourth child’s name/phone numberDate of birth/birthplaceLocation of birth certificateLocation of adoption documentsSocial Security numberDriver’s license number and stateContinued on Page 7
recordbook page 7Your Children:: trackpersonalinfoFifth child’s name/phone number (Please print above.)Date of birth/birthplaceLocation of birth certificateLocation of adoption documentsSocial Security numberYour PetsDriver’s license number and stateFirst pet’s name/species and coloringVet’s contact informationFood/other careSecond pet’s name/species and coloringVet’s contact informationFood/other careThird pet’s name/species and coloringVet’s contact informationFood/other care
Current/Retired Employer(s):: trackpersonalinfoEmployer’s Contact InformationAre you retired? Yes NoCompany name (Please print above.)PhoneSupervisorCurrent benefits and location of documentsPositionOwnership interestStart date (and end date, if retired) Yes NoEmployer’s Contact InformationCompany namePhoneSupervisorCurrent benefits and location of documentsPositionPrevious Employer(s)Ownership interestStart date (and end date, if retired) Yes NoEmployer’s Contact InformationCompany namePhoneSupervisorCurrent benefits and location of documentsPositionOwnership interestStart date and end date Yes NoEmployer’s Contact InformationCompany namePhoneSupervisorCurrent benefits and location of documentsPositionOwnership interestStart date and end date Yes No
recordbook page 9Will and Trust:: trackpersonalinfoDo you have a will? Yes NoAre you the creator or beneficiary of any trusts?Please record documents here:Document title (Please print above.)Date preparedPrepared by (name, title, contact information)Location of documentLocation of copiesExecutor or trusteeAlternate executor or trusteeAdditional notesDocument titleDate preparedPrepared by (name, title, contact information)Location of documentLocation of copiesExecutor or trusteeAlternate executor or trusteeAdditional notes Yes No
Power of Attorney:: trackpersonalinfoHave you signed a financial durable power of attorney? Yes NoDocument title (Please print above.)Date preparedPrepared by (name, title, contact information)Name of person appointed to act on your behalfNames of alternates to act on your behalfEffective date of power holder to act: Immediately Upon your incapacity OtherLocation of original documentLocation of copiesHealth Care DirectivesAdditional notesDo you have a living will? Yes NoDo you have a health care power of attorney? Yes NoName of person appointed to act on your behalfNames of alternates to act on your behalfContinued on Page 11
recordbook page 11Health Care Directives:: trackpersonalinfoPlease record documents here:Document titleDate preparedEffective date for power holder to act: Immediately Upon your incapacity OtherPrepared by (name, title, contact information) (Please print above.)Location of original documentLocations of copies (We suggest attaching a copy to this record book.)Document titleDate preparedEffective date for power holder to act: Immediately Upon your incapacity OtherPrepared by (name, title, contact information)Location of original documentLong-Term CareLocations of copies (We suggest attaching a copy to this record book.)Do you have a long-term care insurance policy?Insurance agent’s nameCompany namePolicy number Yes No
Body, Organ and Tissue Donations:: trackpersonalinfoDo you wish to donate your body, organs or tissues? Yes NoFirst donation (identify the particular organ or tissue, or indicate entire body) (Please print above.)Receiving organization’s name and contact informationLocation of documentsSecond donation (identify the particular organ or tissue)Receiving organization’s name and contact informationLocation of documentsThird donation (identify the particular organ or tissue)Receiving organization’s name and contact informationLocation of documentsSecured PlacePlease note: This is not intended as a legal form. Consult with your doctor and attorney today tocreate the appropriate documents.Do you have a safe-deposit box? Yes NoBank name, branch location and contact informationPeople with authorized accessBox number and location of keysContents
recordbook page 13Passwords:: trackpersonalinfoFirst product/service, account name, user name or account number/password (Please print above.)Second product/service, account name, user name or account number/passwordThird product/service, account name, user name or account number/passwordFuneral InstructionsFourth product/service, account name, user name or account number/passwordYou have a preference. That’s why it is not unusual for you to plan your funeralarrangements now. When the day arrives, your family will lovingly appreciate yourproactive nature and concern for them as well.Funeral home preferenceType of preparation Cremation Burial Donation of bodyLocation of memorial serviceCemetery preferenceCasket and vault preferencePastor preferenceCasket bearer 1Casket bearer 2Casket bearer 3Casket bearer 4Casket bearer 5Casket bearer 6Music PreferencesSong/Hymn 1Continued on Page 14
Funeral Instructions:: trackpersonalinfoSong/Hymn 2 (Please print above.)Song/Hymn 3Song/Hymn 4Soloist nameSoloist nameOrganist nameFavorite ScripturesReading 1Reading 2Reading 3Reading 4Favorite flowersMemorial ideasType of service (Open or closed casket, religious or secular, and any other preferences)Headstone preferenceBurial clothing preferenceObituary (Things you want included and newspapers where you want it published)
recordbook page 15Other Matters That Need Family Attention:: trackpersonalinfoHere’s a checklist of actions that need completion in the period of time between yourdeath and up to a year after. Check the boxes that apply to you, so your family memberscan take care of them later. Contact the attorney to have the will read and to see what has to be done in regardto estate settlement. Contact the Social Security Administration. Social Security pays a lump sumdeath benefit of 255. A surviving spouse can get survivor’s benefits as early as age60—earlier if a surviving spouse is disabled. Children under age 18 may also be entitledto survivor’s benefits when a parent dies. Call the Veterans Administration (VA). A surviving spouse and dependentchildren may be entitled to a small pension if the deceased served in the Armed Forces.The VA will pay partial burial expenses and provide a headstone or marker as well asan American flag to drape over the casket, without charge. If burial is in a nationalcemetery, the VA will provide a grave site and pay burial costs. Notify organizations where the deceased held memberships. Some offermemorial services. They may have life insurance and may return part of dues paid.Organizations to notify: Contact former employers for benefits resulting from that employment. Referto the list in the employment history section (see Page 8). Collect life insurance policies and call the companies and ask for death claimforms. The beneficiary can choose to take proceeds in a lump sum or spread them outas payments over the years. Contact companies holding retirement plans. There may be money left in themto be paid out to survivors. Like life insurance, proceeds can be paid out in a lumpsum or in installments. Tax advisors should be consulted before beneficiaries makethat decision. Consult with the health insurance company. It may pay some expenses of yourlast illness. Future premiums may also be less if the policy has covered two or morepeople and now there will be one less person covered. Some health insurance policiesare also combination policies that provide some death benefits.
:: calculateestate’sworthHOW TO TELL“Mine” From “Ours”Sole property is anythingthat belongs to youalone. Joint property areitems that are shared. Todetermine whether or notyou can pass all or part of anasset by your will, you shouldknow the form of title. Thereare four ways property canbe owned jointly.1. Joint tenancy with rightof survivorship. Whenone owner passes away,the surviving joint ownerowns the entire asset.2. Tenancy in common.You and others havean undivided interestin an asset. You can passyour interest by will. Thesurviving joint tenantdoesn’t automatically taketitle to your interest.3. Tenancy by the entirety.This form of ownershipis recognized by manystates. It s limited tomarried couples andgenerally to real property.4. Community property.This is a form of propertyownership betweenspouses in select states.Generally, all propertyacquired during marriageis community property,regardless of whichspouse holds title. You canwill only half the property;the other half belongs toyour surviving spouse.Worksheets to Help You Create Your EstateWhat Is Your Estate Really Worth?Your estate’s value from an estateplanning viewpoint is different from yournet worth, which is a snapshot of whatyou own and what you owe.Fortunately, most people find theyhave much more in their estate than theythought when they account for savings,employer and personal life insurance,retirement plan benefits and perhaps evena future inheritance. For estate planningpurposes, an inventory of your assets andliabilities will help you determine whatyou can leave to your heirs after yourlifetime and how to best provide for thedistribution of your estate.Make an Inventory of Your AssetsIf you are married, be sure to include yourspouse’s assets and all jointly owned orcommunity property. Use the currentmarket value for everything you own andthe face value (not cash value) for any lifeinsurance. Don’t strive for exact amounts;round numbers will do.Make Property DecisionsOnce you’ve made an inventory of yourproperty, you’re ready to decide where youwant it to go. The following pages can helpyou organize your plans.Once the worksheets are complete, youare ready to meet with your attorney forimportant counsel and the drafting ofnecessary documents.
recordbook page 17:: calculateestate’sworthList Your Assets1. Cash (savings, money market and checking accounts, CDs)Type of accountInstitutionOwned byyou alone Owned byyour spouse Ownedjointly orcommunity Date ofpurchaseCostbasis Owned byyou alone Owned byyour spouse Ownedjointly orcommunity Costbasis Owned byyou alone Owned byyour spouse Ownedjointly orcommunity 2. Real EstateDescription andlocation of property3. Stocks, bonds, mutual fundsDescriptionDate ofpurchase4. Obligations due me (mortgages held, notes receivable, accounts receivable)Name of debtorAddressOwned byyou alone Owned byyour spouse Ownedjointly orcommunity
:: calculateestate’sworthList Your Assets5. Personal assets (automobiles, jewelry, furniture, boats, paintings, collections, etc.)DescriptionOwned byyour spouse Ownedjointly orcommunity BeneficiaryFace Amount*Owned byOwned byyou aloneyour spouse Ownedjointly orcommunity CostBeneficiary basis Present ValueOwned byOwned byyou aloneyour spouse Ownedjointly orcommunity Date ofpurchaseCostbasis Owned byyou alone 6. Life insuranceName of companyInsured*Note any policy loans7. AnnuitiesDescriptionAnnuitant
recordbook page 19:: calculateestate’sworthList Your Assets8. Retirement benefits (pension, profit-sharing, IRAs, Keogh plans, etc., including faceamounts of life insurance owned in the retirement plan)DescriptionBeneficiaryValue of InterestOwned byOwned byyou aloneyour spouse 9. Business interests owned (proprietorship, partnership, corporation)Business name and addressCostbasis Owned byyou alone Value of InterestOwnedOwned byjointly oryour spouse community 10. Other assets potentially includable in estate because of your interest in them(interest in a trust or estate, royalties, patents, copyrights, trademarks, etc.)DescriptionTOTAL OF ALL ASSETSCostbasis Owned byyou alone Current ValueOwnedOwned byjointly oryour spouse community OwnedOwned byOwned byjointly oryou aloneyour spouse community000
:: calculateestate’sworthList Your Liabilities (approximate balances owed)1. MortgagesDescription of propertyName of creditorOwed byyou alone Owed byyour spouse Owedjointly 2. Loans, installment debts (bank, auto and personal loans, insurance loans, etc.)DescriptionName of creditorOwed byyou alone Owed byyour spouse Owedjointly 3. Current bills (department store and other charges, credit cards, etc.)DescriptionName of creditorOwed byyou alone Owed byyour spouse Owedjointly 4. Taxes owed (estimated state and federal income tax, property tax, etc.)DescriptionOwed byyou alone Owed byyour spouse Owedjointly
recordbook page 21:: calculateestate’sworthList Your Liabilities (approximate balances owed)5. All other liabilitiesDescriptionOwed byyou alone Owed byyour spouse Owedjointly TOTAL OF ALL LIABILITIESOwed byOwed byOwedyou alone your spousejointly000 Total of all assetsMinus total of all liabilitiesNET ESTATE (estimated)YouYour spouseJoint000 00( )( )( )000 0
:: dispositionofestateWho Gets What?Now that you’ve determined which assets comprise your estate and their values, you need toindicate who you want to inherit your assets.1. Bequests to spouse(indicate a contingent beneficiary in case your spouse does not survive you)Description of asset or percentage of estateName/Relationship/Address2. To other beneficiariesDescription of asset or percentage of estateName of Beneficiary/Relationship/Address3. To charitable organizationsName and address of charitable organizationName and address of charitable organizationPercentageof net estate%%%%ORORORORDollar amount Description ofspecific asset bequeathed
recordbook page 23:: dispositionofestateWho Gets What?4. Residue of estateName and address of charitable organizationPercent of residuary estate%%%Name and address of other beneficiariesPercent of residuary estate%%%PEPC-E The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.
Gifts ThatGive Back!!A generous gift to usshould not supplantyour personal and familyconcerns, of course.However, you will reapbenefits from yourphilanthropy that havepractical consequences.Income tax benefits. Agift to a qualified charitableorganization may entitleyou to an income taxcharitable deduction whenyou itemize.Capital gains tax savings.When you donateappreciated property youhave held for more thanone year to a qualifiedcharitable organization,you can reduce or eveneliminate capital gainstaxes on the transfer.You may also qualify foran income tax charitablededuction based on thefair market value of thesecurities at the time ofthe transfer.Lifetime income. If youdesire, you can receivean assured income for lifethrough a planned gift.::considercharitablechoicesHow You, Your Family and Your Favorite Causes Can -------------------------------------Once you have completed this recordbook, you are ready to meet with yourattorney and other professional advisorsfor their important counsel and thedrafting of necessary documents.We hope that as part of your planningyou consider making a gift to us inyour will or through some other formof gift planning. A gift to us, however,should never come before your personalor family needs. That’s the beauty ofa planned gift—you come first.Depending on the type of gift youchoose, you may potentially reapbenefits from your philanthropythat have very practical and desirableoutcomes, such as the following: Ability to leave a legacy Income tax benefits A life income Reduce or eliminate capitalgains taxes Personal satisfactionWhatever your objective, we can helpmatch your needs with the right givingtool to provide the most benefits for you,your family and us.Please contact us and we’ll be happyto explain the choices available to you—without obligation.
Location of tax records . Location of titles, abstracts and leases . Location of stock and bond certificates . Military service, branch, years of service . Location of military documents . First spouse’s name . Date of first marriage/location of certificate . Prenuptial agreement/location of document . Continued on Page 4
Estate Planning Basics 01/01/2020. Estate Planning — An Introduction By definition, estate planning is a process . careful estate planning, such as the creation of a credit shelter trust, in order to take advantage of their combined federal estate tax exclusions. A new law passed in 2010 allows
1. Estate planning is a. only for the rich. b. vital for anyone who has assets. c. required by law. 2. The first step of every estate plan is to a. prepare a personal inventory. b. draft a will. c. make a list of insurance policies. 3. Estate planning experts include a. actuaries. b. estate planning attorneys. c. IRS agents. 4. One tool of .
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ESTATE PLANNING 101 4 What Is Estate Planning? First thing first - your estate consists of everything you own or owe at your time of death. When the time comes to pass on, you need to have an estate plan in place that properly outlines your wishes. This includes how you want your assets distributed, wishes regarding healthcare decisions,
August 2020 8 of 23 5. Student Course Registration EIS Default Name: xxxxreg.asc Where xxxx is the school/division number. Record Type Description H Course Registration Header Record 1 record per file I Identifier Record 1 record per student D Course Detail Record (follows identifier record) 1 record per course
at UC Santa Cruz. I have practiced California estate, gift-planning, and probate law exclusively since 1991. I have made a specialty of estate planning for high-net-worth clients. Others may do estate planning as a sideline or only on rare occasions. I am a California certified estate planning and probate specialist, one of fewer than 200
Estate Planning Basics Estate Planning Basics For some Canadians, the concept of "estate planning" is often synonymous with Wills and Powers of Attorney. It is important to note, however, that those crucial documents should not be considered the entirety of estate planning, but rather the written results of a detailed, multi-step process.
Estate Planning Basics An Overview of the Estate Planning Process Good MORNING, AFTERNOON, EVENING and welcome. My name is YOUR NAME , and I represent FIRM NAME . In this estate planning presentation, we'll take a look at some general estate planning concepts and strategies.
