Planning Ahead
There is so much we can do to "Plan Ahead" for our financial future, the financial future of our loved ones, and even the financial future of the local church or nonprofit organizations. We all work hard to build a beautiful legacy for our families — by writing an Estate Plan you get to use that legacy to bless exactly who you want to bless.
For each of us, there is only one day in life when it is too late to make these decisions, and unfortunately we do not get to pick that day. By preparing your Estate Plan now, you are providing clarity to your loved ones on how you want your estate managed.
This workbook will help you make decisions about who will manage:
- Your wishes regarding inheritance for your loved ones
- Your health care decisions when you are unable
- Your wishes regarding end of life care
Please fill out each section as completely as possible. Our team will review everything with you during your interview.
You (Trustor / Author)
Provide your personal information exactly as it should appear in your Trust documents.
| Full Name | Birthdate | Child of |
|---|---|---|
Revocable Trust
Your Trust is the core of your Estate Plan. We describe a Trust as a vessel you can fill with all of your assets. Once you create "Your Family Trust", large assets should be retitled into it. It is intended to stay with you throughout your lifetime, and can be amended as often as needed.
We write probate avoidance trusts. These protect your estate from probate — a court process that can take up to two years and cost an average of 5% of the total estate value.
By creating a Trust, you decide: who will manage your estate, how it will be managed, who your beneficiaries will be, the terms of distribution, and whether any portion is donated to a church, charity, or other organization.
Note: No Trust is court-proof, however a clear and specific Trust leads to a more defensible position if someone contests it.
Trust Details
Name your Trust and provide information about special circumstances.
Do you have any children or beneficiaries with special needs that might benefit from a special Trust designed to protect their inheritance and limit loss of public benefits?
| Name of Beneficiary | Relationship to Trustor(s) |
|---|---|
Do you have any children who have predeceased you?
| Name of Decedent | Relationship to Trustor(s) |
|---|---|
Only people specifically named as a beneficiary will receive inheritance. List here anyone you explicitly wish to exclude by name.
| Name of Person(s) to be Disinherited | Relationship to Trustor(s) |
|---|---|
Successor Trustees
You are the Trustor (creator) and also the Trustee (manager) of your Trust. You maintain full control over your assets. Couples usually serve as each other's co-trustee.
You will choose at least one Successor Trustee — the person who will manage your assets when you are no longer able. They will serve as a fiduciary of the estate for the benefit of your named beneficiaries, in charge of collecting and distributing assets according to your specific instructions.
Consider: Managing an estate is a big job done during a difficult time. Choose someone you trust to manage responsibly. You may even want to select a team of 2–3 Co-Trustees to act together.
- Successors do not have to be family — they just need to be people you trust.
- It is common to pick two or three successors in order of priority.
Successor Trustees
List up to four Successor Trustees in order of priority. Check Co-Trustee next to any who should serve simultaneously with another.
Assets
At the end of your Trust is a "Schedule A" or Asset page — a list of all places where you gather wealth. This serves as a treasure map to show your Successors where to look for your assets.
Include: Real estate, bank accounts, brokerage accounts, investment accounts, retirement accounts, life insurance policies, business interests, and any substantially valuable collectibles or heirlooms like classic cars or art.
Do not include: Account numbers or the values of any accounts. Your successor will be able to access these accounts after your passing by nature of being your successor.
Some assets should be titled in the name of the trust (real property, large bank accounts). Some assets have beneficiaries you chose when you opened the accounts — you can change the beneficiary to be the Trust, or leave them as they are.
Assets (Schedule A)
List all real estate, bank accounts, brokerage/retirement/investment accounts, life insurance policies, and high-value possessions. Do not include account numbers or values.
| Asset (e.g. Chase Bank) | Asset Type | Preferred Branch (banks only) |
|---|---|---|
Assets (Distribution)
When all original Trustors have passed, the Successor Trustee will gather all assets and distribute them to the beneficiaries identified in your Trust.
Specific Bequests are gifts distributed before the assets are divided. The Rest, Residue, and Remainder is the total value of all possessions and assets remaining after last expenses and specific bequests.
The rest, residue, and remainder is distributed to one or more beneficiaries in equal or unequal shares — you determine who receives a percentage and how large that percentage is.
If a beneficiary passes away before the Trustors, it is standard to pass their share to their children. If you prefer it distributed differently, list a contingent (back-up) beneficiary.
Asset Distribution
Specific Bequests are distributed before the estate is divided. Rest, Residue & Remainder percentages should total 100%.
| Item or Dollar Amount | Beneficiary | Relationship to Trustor(s) |
|---|---|---|
| % of Estate | Beneficiary | Contingent Beneficiary | Relationship |
|---|---|---|---|
Pour-Over Will
To accompany your Trust, we write a pour-over will. It says that at the end of your life, all of your possessions not already named in the Trust shall be given to your Trust.
This covers things like home appliances, decor, collectibles, general belongings, and any small bank accounts — giving these items to "Your Family Trust" so they can be distributed to your beneficiaries.
The person in charge of ensuring these assets are valued and given to the Trust is your executor. Typically, it is simplest to choose your "then-acting Trustee" to be your executor, as both roles handle collecting and distributing assets.
If you prefer someone else as executor, you may designate them on the next page.
Pour-Over Will — Executor & Guardians
If you prefer someone other than your "then-acting Trustee" as executor, provide their info below. Also designate guardians for any minor children.
List in order of priority. A court will always attempt to place a child with their parents, but when that is not possible, this becomes your voice in their decision.
| Name of Guardian or Co-Guardians (in order of priority) | Relationship to Trustor(s) |
|---|---|
General Durable Power of Attorney
This is an incredibly powerful document.
General: it covers a broad range of financial and legal authorities. Durable: it is intended to last your lifetime and becomes null after your passing. Power of Attorney: you grant this person full authority to sign your name with the same legal enforceability as if you yourself signed.
It can be useful when you need the person you trust most in life to sign or make legal decisions for you, including banking, real estate, investment, and other decisions.
Springing Power of Attorney: This power only springs into effect upon a physician's confirmation of your incapacity. Your designated POA would need to present a doctor's sworn affidavit before signing your name.
Acknowledgement by Agent: We provide an acknowledgement for your agent to sign, laying out the powers and responsibilities and warning them of potential legal consequences of not acting in your best interest.
General Durable Power of Attorney — Agents
List up to three attorneys-in-fact in order of priority. Check Co-Agent next to any who should serve simultaneously with another.
Would you prefer your power-of-attorney to be effective immediately, or only upon a declaration that you can no longer make decisions for yourself?
Advance Health Care Directive
We believe clarity is compassion. It is an act of love and care to make the hard decisions ahead of time.
Your advance health care directive authorizes your agent to make health care decisions for you when you are no longer able. It also provides an opportunity for you to express your end of life wishes, relieving your agent of that pressure. When you are unable to speak for yourself, the doctor will turn to your agent for guidance — this document guides your agent.
This document includes:
- Basic direction regarding your care
- Whether to prolong life or allow you to pass naturally if doctors determine death is imminent
- Organ donation and any limitations you would place on donation
- Cremation, burial, and funeral preferences or pre-arrangements
- A HIPAA waiver to grant your agent access to medical information
Advance Health Care Directive — Agents & Interview
List up to four healthcare agents in order of priority. Check Co-Agent next to any who should serve simultaneously.
Interview Date
Schedule your interview at planaheadtrust.com or by calling Steve or Craig.
If you have already scheduled, enter your date below.