If you are a married couple planning together, the couples estate planning questionnaire is the right one to use. It has six pages and takes about 20 minutes. This guide walks through what each page asks so you know what to expect. Individuals and other situations have their own questionnaires on the Get Started page.
Before you start
- Read the general instructions that appear at various points. They are helpful.
- I often include a sample response so you can see what an answer looks like.
- You can save your progress with the "Save" button at the bottom right. It creates a unique link you can email to yourself and use to return to the form. Very few clients need it, because the form does not take long.
Page 1: you and your spouse
Enter the date of your consultation, how you learned about my office and who referred you, if anyone. One of you is "spouse number one" and the other is "spouse number two"; pick either way. Each of you enters your name as you want it to appear. Add your best phone number, email and mailing address. The email matters because we use it to reach you, and a copy of everything you enter is sent to it and to my office.
Page 2: prior marriages and prior documents
Indicate whether either or both of you have been divorced and whether you have prior estate planning documents. One of you may have them and the other may not. Whatever fits is fine.
Page 3: beneficiaries
This page asks where the assets of your trust go after you both pass away, or whether some assets are distributed when the first of you dies, with further distributions after the second death. It asks about children from previous relationships and children you have together.
Answering "yes" opens a box to enter names and birthdays, and you can keep adding children. You also describe how your estate should be distributed to your children or beneficiaries, whether they inherit right away or another way, and any special issues affecting a beneficiary, such as bankruptcy, alcoholism or substance abuse or special needs.
The "apocalypse" paragraph asks, in the rare event all your beneficiaries die before you, where you want your estate to go.
The page also asks how much leeway the surviving spouse has to change the trust after the first spouse dies. That is a very important issue, especially in a blended family.
Page 4: trustees, executors, guardians, health care and power of attorney
Trustees.
The people who manage your trust and distribute your assets. I like two or three names, and you can add more.
Executors.
The people in charge of your wills. Your will is a backup to your trust.
Guardians.
If you have minor children, you can nominate guardians here.
Health care decisions.
Each spouse names people to make health care decisions if they cannot. Typically the spouse is first in line, followed by a second and third person. You can also leave health care instructions.
Power of attorney.
Each spouse lists who can act for them if they cannot act for themselves. Again the spouse is typically first, followed by one or two others.
Page 5: assets and goals
Answering "yes" to an asset type opens a box for details. The first question is real estate, including your primary residence, with a button to add properties. Bank accounts and other asset types work the same way. At the bottom, tell us your goals, why you are creating your estate plan and anything else you want us to know. You can upload documents or drag them to the upload field.
Submitting
Click "Submit." Your answers go to my office and a copy goes to the email you gave at the start. You will also see a confirmation page you can print.
Start on the Get Started page or call 661-414-7100.