2017
Estate Planning Questionnaire – What to Know for Your Estate Plan
Eric Valente / 1 Comments /New clients always ask, “what should I think about before our first estate planning meeting” and I always answer by sending this questionnaire. In addition to the below questionnaire take a look at our comprehensive Will, Trust and Estate Planning Lawyer Page.
What follows is my standard estate planning questionnaire that I use for my estate planning clients in Cleveland, Ohio and Akron, Ohio. As an estate planning attorney, I always appreciate when a client comes prepared and knows what to think about. Please call Valente Law at (330) 665-5000 to discuss your estate plan! We offer free initial consultations, so it really is a no lose situation!
Here is a link to the estate planning questionnaire in its entirety with proper formatting:
Estate Planning Questionnaire – Valente Law, LLC – 2017 Update
And here is the estate planning questionnaire in text form:
INITIAL ESTATE PLANNING QUESTIONNAIRE
This questionnaire is designed to stimulate your thinking regarding the various issues we will need to address when structuring and implementing your estate plan. This is not an exhaustive list of all information we will need, as each client and estate plan is unique. After discussing the basic information addressed here, we will follow-up with more specific, detailed questions before we finalize your estate plan. If you have any questions when reviewing this questionnaire, please contact us.
| Name (Include Middle Name): | |
| Spouse’s Name (Include Middle Name): | |
| Phone number: | |
| Spouse’s phone number: | |
| Email: | |
| Spouse’s email: | |
| Date of Birth: | |
| Spouse’s Date of Birth: | |
| SSN: | |
| Spouse’s SSN: | |
| Date of Marriage: | |
| Residence Address: | |
| Does Either Spouse Have a Pre-deceased Spouse? If yes, name, and date of death: | |
| Does Either Spouse Have a Prior Marriage that ended in divorce or annulment? If yes, then name and date of divorce: | |
| Does either spouse have children from prior marriage? If yes, identify children and details of prior marriage. | |
| Children’s personal information – names, including middle names, dates of birth, SSNs, if step children of either spouse, or adopted children, please specify:
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| Include children and grandchildren born after execution of trust? | |
| Grandchildren’s personal information – names, including middle names, dates of birth, SSNs, name of grandchild’s parents, and if step children of your children, or adopted by your children, please specify:
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| Disinherit any children or grandchildren? | |
| Successor Trustees – The successor Trustee manages the trust after the initial trustee(s) can no longer serve. Trustee succession occurs upon the death or incapacity of a currently serving trustee.
Please list as many Successor Trustees as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each, and if you want them to serve jointly or individually, please specify:
If either spouse wishes to have a different trustee succession plan, then please specify separate lists for each spouse. If you wish to have a different Trustee Succession plan for death and incapacity, then please specify.
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| Trust Protector – The Trust Protector (aka Trust Advisor) is a third person designated by the Trustmaker(s) to make certain important, delineated decisions about the trust administration.
Possible duties or powers:
Please list as many Trust Protectors as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each, and if you want them to serve jointly or individually, please specify:
If either spouse wishes to have a different Trust Protector succession plan, then please specify separate lists for each spouse.
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| Distribution of Property
Do you wish to make any specific distributions of specific property to specific beneficiaries? If yes, please specify the property to be distributed and the beneficiary:
How do you want the rest of your property to be distributed? (I.E. equally to your children, in varied amounts to your children, to additional beneficiaries, to charities, to your grandchildren, immediately, or upon a certain age, or a portion at a certain age, then another portion at a later date, combinations of same, etc.)
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| If surviving spouse is entitled to distributions of principal from the trust of the first spouse to die, does the surviving spouse’s remarriage cancel the surviving spouse’s right to withdraw principal? If yes, would a valid prenuptial agreement between the surviving spouse and the new spouse save the surviving spouse’s right to principal? | |
| Remote Beneficiaries – Remote Beneficiaries are people that shall receive your property if the primary beneficiaries and all of their lineal descendants have died prior to a complete distribution of trust property. (I.E. to your, and your spouse’s heirs as if you had died without a will or trust, or to a friend, charity, more remote family member or combination of same, etc.) | |
| Will Executor – The Executor of your will is the person that will handle your probate estate with court. This is normally the same person(s) as your Successor Trustees.
Please list as many potential Executors as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each.
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| Guardians – If you have minor children, or may have additional children, who do you want to be their guardian if you and your spouse both die before they reach the age of 18.
Please list as many potential Guardians as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each. | |
| Health Care Agent – Health Care Agents will be listed in a Health Care Power of Attorney and be authorized to make health care decisions for you when you are unable to make them yourself.
Please list as many Health Care Agents as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each.
If either spouse wishes to have a different Health Care Agent succession plan, then please specify separate lists for each spouse.
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| Power of Attorney – The agents listed on the Power of Attorney can handle personal financial matters on your behalf. This is normally the same person(s) as your Successor Trustees.
Please list as many Power of Attorney Agents as possible, ideally, at least 4, in case the individuals listed first are unable to serve) and names, (including middle names), ages, addresses, and phone numbers for each, and if you want them to serve jointly or individually, please specify:
If either spouse wishes to have a different Power of Attorney Agent succession plan, then please specify separate lists for each spouse. | |
| Do you want the Power of Attorney Agents to have any limitations on their authority to act on your behalf? If yes, please specify: | |
| Do you want the Power of Attorney Agent(s) to have the power to amend the trust? | |
| Do you want the Power of Attorney Agent(s) to have the power immediately, or do you want their power to take effect only upon your disability? | |
| Do you want the Power of Attorney to be effective during any period in which you may be incapacitated? | |
| Financial Information – Depending on the size of your estate, we will review and implement different strategies designed to take minimize taxes and maximize amounts available to your beneficiaries.
What is the estimated value of your estate?
Please identify the various assets you hold and the estimated value of each asset class:
How much income does each spouse earn on an annual basis?
How much debt do you and your spouse owe in the following liability classes:
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| What are you main concerns regarding your estate plan? | |
| What are your main goals regarding your estate plan? | |
| Who is your financial advisor? | |
| Who is your accountant? | |
Prior Estate Planning – do you have any of the following estate planning documents:
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The more information you can provide to us during the early stages of your estate planning process, the better and more efficiently we will be able to serve you. If you are unsure if any information or documentation may be helpful to us, please err on the side of over-sharing. In addition to the above information, please bring with you to our initial in-person meeting the following documents:
- Last 3 years of tax returns,
- Last 3 years of business financials,
- All prior estate planning documents,
- All deeds for real estate,
- All documents evidencing your debt,
- Valid driver’s license or other form of photo identification,
- Any other documents that you feel may be important to this process.
