Confidential Estate Inventory Planning

8855 Dunn Road, Hazelwood, Mo 63042 www.unitedpentecostalfoundation.com _ Going Forward - Estate Planning for Your Family - Three Documents We All Need Dear Friend: We all need to have a Durable Power of Attorney, an Advance Health Care Directive (Durable Power for Health) and a Will If you are a single person that means there are three documents you need If you are married, that means there are six documents you and your spouse need Trusts are useful if there are minor children or real estate as a part of your estate and you want to help those left behind avoid probate BUT, EVERYONE, even if they have not decided to get a trust just yet, needs those first three documents to be signed, dated, notarized or witnessed (by two independent [not named beneficiaries or executors] people in the case of a Will) Durable Power of Attorney (General): This is a separate document for each spouse so that in the event of the incapacity of one spouse, the other spouse (or, if not married, another named individual) can have authority to deal with property that for some reason may not be owned by the trust Advance Directive for Health Care & Durable Power of Attorney: This is a separate document for each spouse so that in the event of the incapacity of one spouse, the other spouse (or, if not married, another named individual) or other alternate agents can have authority to make health care decisions including that "pull the plug" decision where someone is being kept alive only by artificial means Will: This is a separate document for each spouse (just one document if you are not married) which revokes any previous will you might have made, names guardians for your minor children (if you have any), and makes your entire estate plan cohesive You may simply indicate that you are leaving your property to your children or to others We want to make this easy for you to get your three documents done Give me the information on this form If you receive this form by email you can email it back to us With this information we can prepare a letter of recommendation for you to take to an attorney to complete your documents Sincerely, Stephen M Drury President DOCUMENT PACKAGE – PAGE ********************************************************* Common Considerations FOR CHARITABLECONTRIBUTIONS United Pentecostal Church International Divisions & Departments:   Church Division Division of Education  Foreign Missions Division  Home Missions Division  Ladies Ministries  Media Missions  Pentecostal Publishing House  Stewardship Department  Sunday School Division  United Pentecostal Foundation  Word Aflame  World Network of Prayer  Youth Division Endorsed Ministries:   Apostolic Bible Institute Centro Teologico Ministerial DOCUMENT PACKAGE – PAGE UNITED PENTECOSTAL FOUNDATION (314) 837-7300 fax (314) 336-1830 8855 Dunn Road, Hazelwood, MO 63042 Email smdrury@upci.org CONFIDENTIAL ESTATE PLANNING ON LINE INFORMATION FORM FOR PREPARATION OF WILL OR LIVING TRUST, DURABLE POWER OF ATTORNEY & ADVANCE HEALTH CARE DIRECTIVE INSTRUCTIONS: Married Couple Single Person Have child or children Blended Family Formerly Married No children PERSONAL INFORMATION Last Name: Email Address: Street Address: City: County: State: If single then show how your name should be in documents: If married then show husband’s full name as it is to be listed: If married then show wife’s full name as it is to be listed: Home # ( ) Cell # ( ) Business Tel # Fax Tel # ( ) ( Zip: Date of Birth: _ Date of Birth: _ Date of Birth: _ ) FAMILY INFORMATION Current name of each child: Date of birth DOCUMENT PACKAGE – PAGE Child of “H” husband; “W” wife; “B” both NOMINATION OF EXECUTOR FOR YOUR WILL Note: Unless given other instructions, if you are married, your surviving spouse will be your first Executor in your will The following nominations are for when both spouses are either deceased or incapacitated FIRST ALTERNATE We are married and we both choose CHOICE CHOICES our spouse as first Executor SINGLE PERSON’S NOMINATIONS FOR EXECUTOR OF WILL NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE HUSBAND’S ALTERNATE NOMINATIONS FOR EXECUTOR IN WILL NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE WIFE’S ALTERNATE NOMINATIONS FOR EXECUTOR IN WILL NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE NOMINATION OF GUARDIAN FOR MINOR CHILDREN Note: The Guardian of the Person is the individual who will have physical possession of and who will raise your minor child The Guardian of the Estate will be the person who will take care of the property of your child if your child is a minor If you are divorced, of course, an actual surviving parent of your minor child has priority over any nomination you make for Guardian of the Person You may nominate another for Guardian of the Estate NAME CITY/STATE RELATIONSHIP TO CHILD st Nom GDN OF Person ALTERNATE GDN OF Person 1st Nom GDN OF Estate ALTERNATE GDN OF Estate Other Instructions: DOCUMENT PACKAGE – PAGE NOMINATION OF TRUSTEE TO TAKE CARE OF FUNDS FOR MINOR Note: If you die, and a minor is a beneficiary of your will, then after a probate is finished, the funds are will not be turned over to the minor beneficiary The law does not allow a minor to receive these funds Instead a separate petition must be filed in court and someone will be appointed (usually your nominated Guardian) as the Guardian of the Estate of a minor person to provide healthcare, education, welfare and benefits Sometimes to avoid conflict of interest it is best to choose a trustee other than Guardian of the Minor, which could be a trust department at a bank When the minor beneficiary reaches age 18, the funds and all accumulated interest will then be turned over to the beneficiary In most cases this is not a good idea If, instead of having a guardian of an estate (with significant court involvement) you would like funds to be held by a Trustee until the beneficiary reaches some later age (usually 25) then you need to nominate a Trustee NAME FIRST TRUSTEE/ Bank ALTERNATE TRUSTEE/ Bank Final Distribution Special Instructions Age for Distribution: CITY/STATE 21; RELATIONSHIP TO YOU 25 NOMINATION OF AGENT IN DURABLE POWER OF ATTORNEY Note: Unless given other instructions, if you are married, your spouse will be your first agent in your Durable Power of Attorney The following nominations are for when both spouses are either deceased or incapacitated This choice many times is the same persons you have picked in #3 above to be the Trustee For Alternates: Use Same FIRST ALTERNATE We are married and we both choose our Nominations as are set forth in CHOICE CHOICES spouse as first Agent #3 above SINGLE PERSON’S NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT) NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE HUSBAND’S ALTERNATE NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT) NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE WIFE’S ALTERNATE NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT) NAME CITY/STATE FIRST NOMINEE SECOND NOMINEE DOCUMENT PACKAGE – PAGE RELATIONSHIP TO YOU NOMINATION OF AGENT IN ADVANCE HEALTH CARE DIRECTIVE Note: This is the form where you indicate that you not wish to be kept alive artificially if the only result will be an artificial delay in the moment of your death under certain circumstances Unless given other instructions, if you are married, your surviving spouse will be your first agent to make health care decisions If married, the following nominations are for when the spouse is deceased or incapacitated If single you may choose your agents We are married and we both choose For Alternates: Use Same FIRST ALTERNATE our spouse as first agent to make health Nominations as are set forth in #3 CHOICE CHOICE care decisisons above SINGLE PERSON’S NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE HUSBAND’S ALTERNATE NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE WIFE’S ALTERNATE NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE NAME CITY/STATE RELATIONSHIP TO YOU FIRST NOMINEE SECOND NOMINEE SPECIFIC DISTRIBUTIONS TO INDIVIDUALS OR MINISTIRES Note: Usually people have certain things or certain dollar amounts of the estate that they wish to leave to special people or organizations You may set forth these special distributions and then the bulk of the estate will be distributed as set forth in Section below Unless otherwise stated, and if you are married, these gifts will be made only at the death of the Surviving Spouse SPECIFIC GIFTS OF SPECIFIC ITEMS (GIFT IN KIND) TO INDIVIDUALS OR MINISTRIES *Items such as coins, baseball cards, collections, antiques, heirlooms, tools, etc * Name of Individual/Ministry Relationship to You Description of Item If the beneficiary dies before you where does gift go? SPECIFIC GIFTS OF DOLLAR AMOUNTS TO INDIVIDUALS OR MINISTREIS Name of Individual/Ministry Relationship to You Dollar Amount DOCUMENT PACKAGE – PAGE If the beneficiary dies before you where does gift go? SPECIFIC CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS OR MINISTRIES Note: Common considerations for Ministries listed on page Name of Organization Address Dollar Amount of Estate Any specific designated use? GIFTS OF PERCENTAGES Note: After any special distributions above then the remainder will be distributed to your indicated remainder beneficiaries Unless otherwise stated, and if you are married, these gifts will be made only at the death of the Surviving Spouse A [Simple Will] IF YOU HAVE CHILDREN AND ALL ARE ADULTS, MATURE ENOUGH TO HANDLE THEIR SHARE I leave the remainder of my estate in equal shares to my children [Simple Will] I leave the remainder of my estate not in equal shares to my children but in the following percentages and to the following beneficiaries/Ministries: NOTE: COMMONON CONSIDERATIONS FOR MINISTEIS LISTED ON PAGE Percentage Name of Beneficiary And if that Beneficiary predecease then the share shall be distributed as follows: Other instructions or concerns: B [Complex Will] IF YOU HAVE CHILDREN BUT SOME OR ALL ARE NOT MATURE ENOUGH TO HANDLE THEIR SHARE Note: During any period of time when a Trustee is taking care of the property which is being held for a beneficiary, the Trustee may make distributions for health, education (Trustee makes distribution for college expenses), maintenance, and support as determined in the sole and absolute discretion of the Trustee Trustee then can take care of wedding expenses, assisting with a down-payment on a home, obtaining reasonable transportation, etc I leave the remainder of my estate in equal shares to my children but a child shall receive principal as follows: 1/3 of remainder at earlier date of when the youngest child either graduates from college or reaches the age of 25, then ½ of remainder when child reaches age 27; then all of remainder when child reaches the age of 30 I want to design my own distribution scheme as follows: I leave the remainder of my estate not in equal shares to my children but in the following percentages and to the following beneficiaries/Ministries: NOTE: COMMONON CONSIDERATIONS FOR MINISTEIS LISTED ON PAGE DOCUMENT PACKAGE – PAGE Percentage Name of Beneficiary And if that Beneficiary predecease then the share shall be distributed as follows: Other instructions or concerns: C IF YOU DO NOT HAVE SURVIVING CHILDREN OR IF ALL CHILDREN AND GRANDCHILDREN PREDECEASE YOU WHAT IS YOUR ALTERNATE DISTRIBUTION INSTRUCTIONS: Dollar Amount or If the beneficiary dies before Relationship to Name of Individual/Ministry Percentage of Remainder you and any other You of Estate instructions… 10 INVENTORY OF PROPERTY INCLUDED IN YOUR ESTATE Note: When you are making a listing of your property, it is important that you clearly convey to your planners how your property is held The five basic types of property ownership are: 1) 2) 3) 4) 5) Individual ownership Tenants in common Joint tenants with rights of survivorship Tenants by the entirety Community property The success or failure of tax planning and the final distribution of your estate are often dependent upon the coordination of property ownership with legal instruments in effect REAL ESTATE – List each parcel by address Owned Jointly, Husband or Wife? Fair Market Value (approx) Equity (approx) LIFE INSURANCE – List each policy by name of company Payable on life of Husband or Wife? Any loans against? If Yes how much? Face amount to be paid (approx) DOCUMENT PACKAGE – PAGE RETIREMENT PLANS – List each by name of administrator Husband’s or Wife’s 401K, Keogh, IRA, TSA ? Total current value (approx) INVESTMENT ACCOUNTS – List each by Broker Husband’s or Wife’s Type of Account Total current value (approx) OTHER BANK ACCOUNTS – List each by bank Husband’s or Wife’s Type of Account Total current value (approx) OTHER MAJOR ASSETS – value greater than $10,000.00 Husband’s or Wife’s Type of Asset Total current value (approx) TOTAL ASSETT VALUE (APPROX) 11 LIABILITIES Owed on What Property? Amount Current Bills $ Bank Loans $ Notes Payable $ $ $ $ $ Total $ 10 INVENTORY OF PROPERTY INCLUDED IN YOUR ESTATE Note: When you are making a listing of your property, it is important that you clearly convey to your planners how your property is DOCUMENT PACKAGE – PAGE 12 FUTURE INHERITANCE From Whom? Age HUSBAND Amount $ WIFE $ held The five basic types of property ownership are: 1) Individual ownership 2) Tenants in common 3) Joint tenants with rights of survivorship 4) Tenants by the entirety 5) Community property The success or failure of tax planning and the final distribution of your estate are often dependent upon the coordination of property ownership with legal instruments in effect DOCUMENT PACKAGE – PAGE 10 DOCUMENT PACKAGE – PAGE 11 ... 837-7300 fax (314) 336-1830 8855 Dunn Road, Hazelwood, MO 63042 Email smdrury@upci.org CONFIDENTIAL ESTATE PLANNING ON LINE INFORMATION FORM FOR PREPARATION OF WILL OR LIVING TRUST, DURABLE POWER... nominate another for Guardian of the Estate NAME CITY/STATE RELATIONSHIP TO CHILD st Nom GDN OF Person ALTERNATE GDN OF Person 1st Nom GDN OF Estate ALTERNATE GDN OF Estate Other Instructions: DOCUMENT... Individual/Ministry Percentage of Remainder you and any other You of Estate instructions… 10 INVENTORY OF PROPERTY INCLUDED IN YOUR ESTATE Note: When you are making a listing of your property, it