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TRANSCRIPT
Practical Applications
© 2012 Compass—Finances God’s WayTM
All Rights ReservedLongwood, Florida 32750
(407) 331-6000 • www.compass1.org
SET YOUR HOUSE IN ORDER
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Acknowledgement
Deeply grateful for the tireless effort and wise counsel of Kyle Hasbrouck,
Phil LaBarbera and Jeff Rogers in creating the Set Your House in Order small group study.
This publication is designed to provide accurate and authoritative information with regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice. If legal advice or other expert professional assistance is required, the services of a competent professional person should be sought. –From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations.
Published by Compass—Finances God’s WayTM
Verses identified as (NIV) are taken from the Holy Bible: New International Version, copyright 1973, 1978, 1984 by Biblica. Used by permission of Zondervan Bible Publishers.
Verses identified as (TLB) are taken from the Living Bible; copyright 1971 by Tyndale House Publishers, Wheaton, IL. Used by permission.
Verses identified as (NLT) are taken from the Holy Bible, New Living Translation, copyright © 1996, 2004, 2007 by Tyndale House Foundation. Used by permission of Tyndale House Publishers, Inc., Carol Stream, Illinois 60188. All rights reserved.
Verses identified as (ESV) are taken from The Holy Bible, English Standard Version® (ESV®), copyright © 2001 by Crossway, a publishing ministry of Good News Publishers. Used by permission. All rights reserved.
All other verses are taken from the New American Standard Bible, copyright 1960, 1962, 1963, 1968, 1971, 1972, 1973, 1975, 1977, 1995 by The Lockman Foundation. Used by permission.
June 2012 Edition
American Bible Society helped fund the production of Set Your House in Order
small group study. We are grateful to serve together to encourage meaningful
Bible engagement.
SET YOUR HOUSE IN ORDER
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PRACTICAL APPLICATIONS
Week Chapter Let’s get praCtiCaL
1 Getting Started Read Your Money Counts Document Organizer
2 Building The Foundation The Deed Financial Statement List of Advisors
3 Taking Inventory Debt List & Snowball ’em! Automobile & Other Vehicles Valuables Bank & Brokerage Accounts Real Estate List of Investments Receivables & Items Loaned to Others Location of Important Documents Passwords
4 Providing for Your Loved Ones Future Income Spending Plans (Budgets) Life Insurance Calculation Insurance Inventory Health Care Decisions
5 Leaving a Legacy Funeral Instructions Guardians Decision Distribution Personal Property Giving List Estate Planning Worksheet
Estate Document Checklist
SET YOUR HOUSE IN ORDER
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The Document OrganizerThe purpose of the Document Organizer is to gather and organize all your important papers in one place. At this time, please assemble all your important documents. If you discover you are missing any, try to obtain them promptly. It is important to have these files and document organized so they can be easily retrieved.
Use this as a check list to help you gather your papers for the Document Organizer:
Birth Certificates Marriage Certificates
Military Discharges Wills
Trusts Debt Instruments
Power of Attorney Death Certificates
Citizenship Papers Deeds
Mortgages Leases
Business Arrangements Retirement Papers
Automobile Titles Insurance Policies
Divorce Decrees Income Tax Returns
There are three basic ways to organize your documents:
1. Paper Files
Once you determine the documents you want to place in the Organizer, decide how you wish to store them: in a three-ring binder, an accordion file folder, a portable file box, or a file cabinet. The Set Your House in Order workbook is three-hole punched and perforated for your convenience if you choose to use a three-ring binder for storage.
Originals of some documents, such as wills, trusts, deeds, and life insurance policies, should be stored in a secure place, such as a safe-deposit box. Photocopy the originals of these documents, and place the copies in your Document Organizer.
2. Electronic Files
You may fill out any of the forms in this book electronically. Download them for free by visiting www.compass1.org and clicking on “Small Group Studies,” then Set Your House in Order. You can add documents to your electronic file by scanning and saving them to your electronic Document Organizer
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File. Please back up these electronic files, and make sure your spouse and loved ones know how to access them.
3. Online Files
A third option is to back up your electronic and scanned documents online. When you use this method, you will be able to access them from any computer. Another benefit of an online file is you can have it password-protected. This enables you to give password access to anyone who needs it. Go to www.compass1.org and click on Small Group Studies, then Set Your House in Order-Student and Facilitator Tools for recommendations for Online Files.
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SAMPLE
FINANCIAL STATEMENTASSETS DATE:___________________
Cash on hand/checking account $__________________Savings/money market $__________________Stocks/bonds/mutual funds $__________________Cash value of life insurance $__________________Coins & Jewelry $__________________Home $__________________Other Real Estate $__________________Mortgages/notes receivable $__________________Business valuation $__________________Automobiles/other vehicles $__________________Furniture/other personal property $__________________IRA/401(k)/retirement plan $__________________Other Assets $__________________TOTAL ASSETS: $__________________
DEBTS
Credit card debt $__________________Automobile loans $__________________Home mortgage $__________________Medical/other past due bills $__________________Other real estate mortgages $__________________Bank loans $__________________Student loans $__________________Personal debts to family/friends $__________________Business loans $__________________Life insurance loans $__________________TOTAL DEBT: $__________________NET WORTH (total assets minus total Debt): $__________________
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LIST OF ADVISORS DATE:___________________
Clergy
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Attorney
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Accountant
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
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Financial Advisor
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Insurance Agent
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Real Estate Advisor
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
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Banker
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Stock Broker
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
Other Advisor
Name: _________________________________ Organization: _____________________________
Street Address: ____________________________________________________________________
City, State, Zip: ___________________________________________________________________
Phone Number: ____________________ Email Address: __________________________________
Description of Advisor’s Role: ________________________________________________________
________________________________________________________________________________
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LIST YOUR DEBTS & SNOWBALL ’EM! Balance Monthly Interest Scheduled SnowballCreditor Due Payment Rate Pay-Off Date Priority
Credit Card Debt
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Auto Loans
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Home Mortgages
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Medical Bills
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Bank Loans
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Student Loans
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
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Balance Monthly Interest Scheduled SnowballCreditor Due Payment Rate Pay-Off Date Priority
Debt Family/Friends
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Business/Investment Debt
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
Life Insurance Loans
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
TOTAL DEBT __________ ________
Cosigned Loans (Contingent Debt)
______________ __________ ________ ______ __________ _________
______________ __________ ________ ______ __________ _________
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AUTOMOBILES & OTHER VEHICLES
Description of Vehicle:__________________________________________________________
Registered Owner(s): ____________________________________________________________
Make of Vehicle:______________ Body Type:______________ Lic. No./State_______________
Identification No.:_________________________ Title:_________________________________
First Lien Holder:_______________________________________________________________
Second Lien Holder:_____________________________________________________________
Description of Vehicle:__________________________________________________________
Registered Owner(s): ____________________________________________________________
Make of Vehicle:______________ Body Type:______________ Lic. No./State_______________
Identification No.:_________________________ Title:_________________________________
First Lien Holder:_______________________________________________________________
Second Lien Holder:_____________________________________________________________
Description of Vehicle:__________________________________________________________
Registered Owner(s): ____________________________________________________________
Make of Vehicle:______________ Body Type:______________ Lic. No./State_______________
Identification No.:_________________________ Title:_________________________________
First Lien Holder:_______________________________________________________________
Second Lien Holder:_____________________________________________________________
Description of Vehicle:__________________________________________________________
Registered Owner(s): ____________________________________________________________
Make of Vehicle:______________ Body Type:______________ Lic. No./State_______________
Identification No.:_________________________ Title:_________________________________
First Lien Holder:_______________________________________________________________
Second Lien Holder:_____________________________________________________________
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VALUABLES
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Description of Property:________________________________________________________
Estimated Value:_____________ Date of Value:_______________ Appraised: Yes____ No____
Please ask your insurance agent to determine if these items are adequately insured and if the coverage reflects current values.
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BANK & BROKERAGE ACCOUNTS
Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
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Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
Name(s) on Account:____________________________________________________________
Account No.: ___________________ Name of Financial Institution:_______________________
Institution Contact: ________________ Phone No.:______________ Email address:__________
Type of Account: Checking:____ Savings:____ Business:____ Interest Bearing:____ Brokerage:___
Other (describe): _____________________________ Joint Account:Yes _______ No ________
Those Authorized to Sign on Account: _______________________________________________
Location of Account Checkbooks, Debit Cards, and Credit Cards:__________________________
_____________________________________________________________________________
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REAL ESTATE
Description:__________________________________________________________________
Location of Property: ___________________________________________________________
Deed in Name(s) of:____________________________________________________________
Purchase Price:___________ Purchase Date:____________ Location of Deed: ______________
Assessed Value: Land ______________ Building(s) _______________ Total ________________
Taxes/ Assessments Due: Amount ___________________ Date Payable____________________
Mortgage Holder(s): ____________________________________________________________
Mortgage Satisfaction (if fully paid) Location: ________________________________________
Terms of Lease/Rental Agreement(s): _______________________________________________
____________________________________________________________________________
Description:__________________________________________________________________
Location of Property: ___________________________________________________________
Deed in Name(s) of:____________________________________________________________
Purchase Price:___________ Purchase Date:____________ Location of Deed: ______________
Assessed Value: Land ______________ Building(s) _______________ Total ________________
Taxes/ Assessments Due: Amount ___________________ Date Payable____________________
Mortgage Holder(s): ____________________________________________________________
Mortgage Satisfaction (if fully paid) Location: ________________________________________
Terms of Lease/Rental Agreement(s): _______________________________________________
____________________________________________________________________________
Description:__________________________________________________________________
Location of Property: ___________________________________________________________
Deed in Name(s) of:____________________________________________________________
Purchase Price:___________ Purchase Date:____________ Location of Deed: ______________
Assessed Value: Land ______________ Building(s) _______________ Total ________________
Taxes/ Assessments Due: Amount ___________________ Date Payable____________________
Mortgage Holder(s): ____________________________________________________________
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Mortgage Satisfaction (if fully paid) Location: ________________________________________
Terms of Lease/Rental Agreement(s): _______________________________________________
____________________________________________________________________________
Description:__________________________________________________________________
Location of Property: ___________________________________________________________
Deed in Name(s) of:____________________________________________________________
Purchase Price:___________ Purchase Date:____________ Location of Deed: ______________
Assessed Value: Land ______________ Building(s) _______________ Total ________________
Taxes/ Assessments Due: Amount ___________________ Date Payable____________________
Mortgage Holder(s): ____________________________________________________________
Mortgage Satisfaction (if fully paid) Location: ________________________________________
Terms of Lease/Rental Agreement(s): _______________________________________________
____________________________________________________________________________
Description:__________________________________________________________________
Location of Property: ___________________________________________________________
Deed in Name(s) of:____________________________________________________________
Purchase Price:___________ Purchase Date:____________ Location of Deed: ______________
Assessed Value: Land ______________ Building(s) _______________ Total ________________
Taxes/ Assessments Due: Amount ___________________ Date Payable____________________
Mortgage Holder(s): ____________________________________________________________
Mortgage Satisfaction (if fully paid) Location: ________________________________________
Terms of Lease/Rental Agreement(s): _______________________________________________
____________________________________________________________________________
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LIST OF INVESTMENTSStocks, Bonds, Mutual Funds, and Other Securities
If you have a brokerage account(s), attach the monthly statement to the “List of Investments.” If you own stocks, bonds, mutual funds, or other securities not a part of your brokerage account, complete the information under the appropriate heading below.
STOCKS
Description of Stock: __________________________________________________________
Number of Shares:_____ Dividend Information:________________ Date Acquired:__________
Purchase Price:____________ Where Held:__________________________________________
Online/Other Information:_______________________________________________________
Description of Stock: __________________________________________________________
Number of Shares:_____ Dividend Information:________________ Date Acquired:__________
Purchase Price:____________ Where Held:__________________________________________
Online/Other Information:_______________________________________________________
Description of Stock: __________________________________________________________
Number of Shares:_____ Dividend Information:________________ Date Acquired:__________
Purchase Price:____________ Where Held:__________________________________________
Online/Other Information:_______________________________________________________
Description of Stock: __________________________________________________________
Number of Shares:_____ Dividend Information:________________ Date Acquired:__________
Purchase Price:____________ Where Held:__________________________________________
Online/Other Information:_______________________________________________________
Description of Stock: __________________________________________________________
Number of Shares:_____ Dividend Information:________________ Date Acquired:__________
Purchase Price:____________ Where Held:__________________________________________
Online/Other Information:_______________________________________________________
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BONDS
Description of Bond:____________________________________________________________
Face Amount:__________ Yield:_______________ Maturity Date: ________________________
Date Acquired:_____________ Purchase Price:____________ Where Held:__________________
Online/Other Information:________________________________________________________
Description of Bond:____________________________________________________________
Face Amount:__________ Yield:_______________ Maturity Date: ________________________
Date Acquired:_____________ Purchase Price:____________ Where Held:__________________
Online/Other Information:________________________________________________________
Description of Bond:____________________________________________________________
Face Amount:__________ Yield:_______________ Maturity Date: ________________________
Date Acquired:_____________ Purchase Price:____________ Where Held:__________________
Online/Other Information:________________________________________________________
Description of Bond:____________________________________________________________
Face Amount:__________ Yield:_______________ Maturity Date: ________________________
Date Acquired:_____________ Purchase Price:____________ Where Held:__________________
Online/Other Information:________________________________________________________
Description of Bond:____________________________________________________________
Face Amount:__________ Yield:_______________ Maturity Date: ________________________
Date Acquired:_____________ Purchase Price:____________ Where Held:__________________
Online/Other Information:________________________________________________________
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OTHER SECURITIES/MUTUAL FUNDS
Name & Description: __________________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: ______________
Email Address:_________________________ Date Acquired: ___________________________
Purchase Price:_____________ Where Held:_________________________________________
Online/Other Information:_______________________________________________________
Name & Description: __________________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: ______________
Email Address:_________________________ Date Acquired: ___________________________
Purchase Price:_____________ Where Held:_________________________________________
Online/Other Information:_______________________________________________________
Name & Description: __________________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: ______________
Email Address:_________________________ Date Acquired: ___________________________
Purchase Price:_____________ Where Held:_________________________________________
Online/Other Information:_______________________________________________________
Name & Description: __________________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: ______________
Email Address:_________________________ Date Acquired: ___________________________
Purchase Price:_____________ Where Held:_________________________________________
Online/Other Information:_______________________________________________________
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OTHER INVESTMENTS
Name & Description of Investment:________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: _______________
Email Address:_________________________ Date Acquired: ____________________________
Purchase Price:_____________ Where Held:__________________________________________
Online/Other Information:________________________________________________________
Name & Description of Investment:________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: _______________
Email Address:_________________________ Date Acquired: ____________________________
Purchase Price:_____________ Where Held:__________________________________________
Online/Other Information:________________________________________________________
Name & Description of Investment:________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: _______________
Email Address:_________________________ Date Acquired: ____________________________
Purchase Price:_____________ Where Held:__________________________________________
Online/Other Information:________________________________________________________
Name & Description of Investment:________________________________________________
Person to Contact (if applicable):___________________________ Phone No.: _______________
Email Address:_________________________ Date Acquired: ____________________________
Purchase Price:_____________ Where Held:__________________________________________
Online/Other Information:________________________________________________________
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RECEIVABLES & ITEMS LOANED TO OTHERSList any outstanding loans you have made to friends, family, businesses, and others under “Receivables.”
How many times have you loaned something to a friend and then forgotten who borrowed it? The “Items Loaned To Others” section is designed to help you keep track of these items.
RECEIVABLES Date:___________________
Borrower’s Name:____________________________________ Phone No.: _________________
Email:________________________________________________________________________
Address_ ______________________________________________________________________
Loan Amount:_______________ Location of Agreement:________________________________
Terms of Payment: ______________________________________________________________
______________________________________________________________________________
Borrower’s Name:____________________________________ Phone No.: _________________
Email:________________________________________________________________________
Address_ ______________________________________________________________________
Loan Amount:_______________ Location of Agreement:________________________________
Terms of Payment: ______________________________________________________________
______________________________________________________________________________
Borrower’s Name:____________________________________ Phone No.: _________________
Email:________________________________________________________________________
Address_ ______________________________________________________________________
Loan Amount:_______________ Location of Agreement:________________________________
Terms of Payment: ______________________________________________________________
______________________________________________________________________________
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Borrower’s Name:____________________________________ Phone No.: _________________
Email:________________________________________________________________________
Address_ ______________________________________________________________________
Loan Amount:_______________ Location of Agreement:________________________________
Terms of Payment: ______________________________________________________________
______________________________________________________________________________
ITEMS LOANED TO OTHERS Date: __________________
Item:___________________________________ Loaned to: ____________________________
Borrower’s Phone No.:___________________ Borrower’s Email:__________________________
Borrower’s Addressº _____________________________________________________________
Date Item to be returned:____________ Other Terms:__________________________________
Item:___________________________________ Loaned to: ____________________________
Borrower’s Phone No.:___________________ Borrower’s Email:__________________________
Borrower’s Addressº _____________________________________________________________
Date Item to be returned:____________ Other Terms:__________________________________
Item:___________________________________ Loaned to: ____________________________
Borrower’s Phone No.:___________________ Borrower’s Email:__________________________
Borrower’s Addressº _____________________________________________________________
Date Item to be returned:____________ Other Terms:__________________________________
Item:___________________________________ Loaned to: ____________________________
Borrower’s Phone No.:___________________ Borrower’s Email:__________________________
Borrower’s Addressº _____________________________________________________________
Date Item to be returned:____________ Other Terms:__________________________________
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LOCATION OF IMPORTANT DOCUMENTSDate:____________________
Documents Location of Original Location of Copy
Birth Certificate ______________________ ________________________
Marriage Certificate ______________________ ________________________
Children’s Adoption Records ______________________ ________________________
Military Discharge ______________________ ________________________
Wills ______________________ ________________________
Trusts ______________________ ________________________
Living Will ______________________ ________________________
Health Care Power of Attorney ______________________ ________________________
Debt Instruments ______________________ ________________________
Power of Attorney ______________________ ________________________
Death Certificates ______________________ ________________________
Citizenship Papers ______________________ ________________________
Divorce Decree ______________________ ________________________
Deeds ______________________ ________________________
Leases ______________________ ________________________
Business Agreements ______________________ ________________________
Retirement Papers ______________________ ________________________
Automobile Titles ______________________ ________________________
Insurance Policies ______________________ ________________________
Income Tax Files ______________________ ________________________
Social Security Cards ______________________ ________________________
Passports/Visa/Green Card ______________________ ________________________
Other Documents ______________________ ________________________
Other Documents ______________________ ________________________
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PASSWORDS LISTListing your passwords will save hours of frustration trying to locate them.
Name Item Password/Pin Number
___________________ Computer ______________________________
___________________ Computer ______________________________
___________________ Cell Phone ______________________________
___________________ Cell Phone ______________________________
___________________ Bank Account ______________________________
___________________ Bank Account ______________________________
___________________ Brokerage Account ______________________________
___________________ Brokerage Account ______________________________
___________________ Email Account ______________________________
___________________ Email Account ______________________________
___________________ Security System ______________________________
___________________ Wifi Account ______________________________
___________________ Frequent Flyer Account ______________________________
___________________ Frequent Flyer Account ______________________________
___________________ Social media ______________________________
___________________ Social media ______________________________
___________________ ATM Pins ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
___________________ Other ______________________________
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SOCIAL SECURITY
Date: _________________
Social Security No: _____________ Location of Social Security Card: _______________________
Nearest Social Security Office Address:________________________________________________
City: ________________________ State:______ Zip:_________ Phone No:_________________
My (our) Social Security benefits are as follows: _________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
DETERMINING YOUR BENEFITS
The easiest way to obtain facts about your Social Security benefits is to log on to www.socialsecurity.gov. You also may call Social Security toll-free at (800) 772-1213. You also may file for Social Security online.
FILING FOR SOCIAL SECURITY BENEFITS UPON DEATH OF A SPOUSE
To receive Social Security benefits, go in person to the Social Security office as soon as possible after the death of your spouse. A delay may void some benefits. When you go, take your spouse’s Social Security card and death certificate. Also, take your birth certificate, marriage certificate, and the birth certificates for each child.
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COMPANY RETIREMENT BENEFITS
Date:_________________
Name of Company: _____________________________________________________________
Address: ______________________________________________________________________
Phone No.: __________________ Department to Contact: ______________________________
Person to Contact: ______________________________________________________________
Contact Person’s Phone No.: ____________________ Email:_____________________________
Description of Retirement Plan: ____________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Monthly Amount Paid to Beneficiary(ies) at Death (if any):_______________________________
Lump Sum Amount Paid to Beneficiary(ies) at Death (if any): _____________________________
Value of Retirement Plan: Date:____________________ Amount: ________________________
Company Booklet or PDF Location, or Internet Address Describing Benefits: _________________
_____________________________________________________________________________
_____________________________________________________________________________
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FUTURE INCOME
Date:_________________
Monthly Income Monthly Income AfterSource of Income After Retirement Death of Breadwinner
Salary _______________ _______________
Social Security _______________ _______________
Savings & Investments _______________ _______________
Company Retirement Benefits _______________ _______________
Life Insurance Proceeds _______________ _______________
Real Estate _______________ _______________
Business Income _______________ _______________
Veterans Benefits _______________ _______________
Other Income _______________ _______________
TOTAL FUTURE INCOME: _______________ _______________
Please consult your tax preparer or financial planner to confirm the impact taxes will have on your income.
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SAMPLE
MONTHLY SPENDING PLAN Date:__________________
CURRENT AFTER A BREADWINNER’S DEATH
Gross Monthly Income Monthly Salary ________________ ________________Interest Income ________________ ________________Dividends ________________ ________________Commissions ________________ ________________Bonuses/Tips ________________ ________________Retirement Income ________________ ________________Net Business Income ________________ ________________Gifts of Cash ________________ ________________Child Support/Alimony ________________ ________________Tax Refund ________________ ________________Other Income ________________ ________________TOTAL INCOME ________________ ________________ Giving Local Church ________________ ________________The Poor ________________ ________________Ministries ________________ ________________Other ________________ ________________Total Giving ________________ ________________
Taxes
Federal _______________ ________________Medicare _______________ ________________Social Security _______________ ________________State Taxes _______________ ________________Local Taxes _______________ ________________Other _______________ ________________Total Taxes _______________ ________________
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Housing
Mortgage _______________ ________________Mortgage Prepayment _______________ ________________Rent _______________ ________________Renters Insurance _______________ ________________Homeowner’s Ins. _______________ ________________Flood Insurance _______________ ________________Property Tax _______________ ________________Electricity _______________ ________________Gas _______________ ________________Water _______________ ________________Sanitation _______________ ________________Telephone _______________ ________________Mobile Phone _______________ ________________Maintenance _______________ ________________Cleaning Supplies _______________ ________________TV/Cable/Satellite _______________ ________________Internet Service _______________ ________________Water Softener _______________ ________________Pool _______________ ________________Warranties _______________ ________________Lawn Care/Gardening _______________ ________________Pest Control _______________ ________________Termite Bond _______________ ________________Homeowners Dues _______________ ________________Storage Facility _______________ ________________Total Housing _______________ ________________
Groceries
Food (not eating out) _______________ ________________
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Personal Care
Cosmetics _______________ ________________Beauty/Barber _______________ ________________Toiletries _______________ ________________Gym Membership _______________ ________________Vitamins/Supplements _______________ ________________Other _______________ ________________Total Personal Care _______________ ________________ Transportation
Auto Payments _______________ ________________Gas _______________ ________________Auto Insurance _______________ ________________AAA/Auto Club _______________ ________________Licenses & Taxes _______________ ________________Oil Changes/Maint. _______________ ________________Tires _______________ ________________Repairs _______________ ________________OnStar/Satellite Radio _______________ ________________Tolls _______________ ________________Parking _______________ ________________Transit Fares _______________ ________________Other _______________ ________________Total Transportation _______________ ________________
Insurance
Life _______________ ________________Health _______________ ________________Vision _______________ ________________Dental _______________ ________________Personal Liability _______________ ________________Long-Term Care _______________ ________________Disability _______________ ________________
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Health Insurance _______________ ________________Total Insurance _______________ ________________
Debts _______________ ________________See Debt List Worksheet
Entertainment
Eating Out ________________ ________________Hosting Event ________________ ________________Activities ________________ ________________Day/Weekend Trips ________________ ________________Vacations ________________ ________________Video Rentals ________________ ________________Subscriptions ________________ ________________Books ________________ ________________Music/Online ________________ ________________Other ________________ ________________Total Entertainment ________________ ________________
Pets
Food ________________ ________________Vet ________________ ________________Vaccinations ________________ ________________Drugs/Medications ________________ ________________Boarding/Pet Sitting ________________ ________________Other ________________ ________________Total Pets ________________ ________________
Clothing
Adults ________________ ________________Dry Cleaning/Laundry ________________ ________________Uniforms ________________ ________________Other ________________ ________________Total Clothing ________________ ________________
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School Supplies ________________ ________________Tuition ________________ ________________Clothing/Diapers ________________ ________________Babysitter/Day Care ________________ ________________Child Support (Exp.) ________________ ________________Baby Food/Formula ________________ ________________Tutoring/Lessons ________________ ________________Sports ________________ ________________Field Trips ________________ ________________Allowance ________________ ________________Other ________________ ________________Total Children ________________ ________________
Gifts
Anniversaries ________________ ________________Birthdays ________________ ________________Christmas ________________ ________________Weddings ________________ ________________Graduations ________________ ________________Other ________________ ________________Total Gifts ________________ ________________
Medical
Doctor _______________ ________________Dentist _______________ ________________Prescriptions _______________ ________________Eyeglasses/Contacts _______________ ________________Deductibles _______________ ________________HSA/Flexible Spending ______________ ________________Other _______________ ________________Total Medical _______________ ________________
Savings
Savings/Auto Withdrawal ______________ ________________
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Emergency Savings _______________ ________________Home Repair Savings _______________ ________________Auto Replacement _______________ ________________Other _______________ ________________Total Savings _______________ ________________ Investments
401(k)/ 403(b) _______________ ________________Other Retire. Plans _______________ ________________College Saving Plans _______________ ________________Stocks, Mutual Funds _______________ ________________Bonds _______________ ________________IRA _______________ ________________Real Estate _______________ ________________Other _______________ ________________Total Investments _______________ ________________
Miscellaneous
Adult Allowances _______________ ________________Alimony (expense) _______________ ________________Legal Fees _______________ ________________Accounting/Tax Prep _______________ ________________Postage _______________ ________________Adult Education _______________ ________________Bank Charges/Fees _______________ ________________Family Pictures _______________ ________________Other _______________ ________________Total Miscellaneous _______________ ________________
TOTAL INCOME: _______________ ________________
TOTAL EXPENSES: _______________ ________________
SURPLUS/DEFICIT: _______________ ________________
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LIFE INSURANCE CALCULATIONComplete this analysis to approximate your life insurance needs. This is not intended to be precise. Seek the counsel of an expert to determine your needs accurately.
Your annual income needs figure represents your household’s income needs. Subtract the deceased person’s living expenses (share of food, for example) that will no longer be paid if a breadwinner passes away. Also subtract other income survivors will receive from all sources, such as wages, Social Security, and investments. This calculation will give you the net income needed for the survivors to maintain their current standard of living.
To estimate the amount of insurance you will need for income, multiply the income required by 20. This assumes the survivors will earn a 5 percent after-tax return on the insurance proceeds. Insurance coverage also may be needed to fund “lump sums,” such as paying off debt or funding a child’s education. Determine these needs, and add them to the total amount of insurance. Remember, these estimates will be helpful to start a conversation with an insurance professional.
Date:________________
Your annual income needs $______________
Subtract deceased person’s needs $______________
Subtract other income $______________
Subtract value of existing life insurance (if any) $______________
= Net annual income needed $______________
Net annual income needed, multiplied by 20 (assumes 5%after-tax investment return on insurance proceeds) $______________
Lump Sum Needs
Debts $______________
Education $______________
Other $______________
Total lump sum needs $______________
Total life insurance needs $______________
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INSURANCE INVENTORYInsurance can be confusing because there are so many different types of insurance. Consider this partial list: life, health, long-term care, disability, auto, homeowner’s, dental, and liability.
Gather your insurance policies, and review their coverage, beneficiaries, and values. We recommend a review of these policies with a financial advisor and your insurance agent to confirm that you have the best insurance coverage for your needs and budget. Then complete the Insurance Inventory. Store the originals in a secure location.
Date:__________________
Life Insurance
Insurance Agent & Company:_____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address:______________________________________________________________________
Person Insured:________________________ Beneficiary:_______________________________
Policy No.:________________ Premium Due Date:____________ Premium Payment:________
Value:___________________ Face Amount:________________ Cash Value: _______________
Insurance Agent & Company:_____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address:______________________________________________________________________
Person Insured:________________________ Beneficiary:_______________________________
Policy No.:________________ Premium Due Date:____________ Premium Payment:________
Value:___________________ Face Amount:________________ Cash Value: _______________
Insurance Agent & Company:_____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address:______________________________________________________________________
Person Insured:________________________ Beneficiary:_______________________________
Policy No.:________________ Premium Due Date:____________ Premium Payment:________
Value:___________________ Face Amount:________________ Cash Value: _______________
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Homeowner’s (Tenant’s) Insurance
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address: ______________________________________________________________________
Property Covered:__________________________________ Policy No.: ___________________
Coverage:_____________________________________________________________________
Premium Due Date:________________________ Premium Payment: _____________________
Automobile/Vehicle Insurance
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address: ______________________________________________________________________
Auto Covered:_____________________________________ Policy No.: ___________________
Coverage:_____________________________________________________________________
Premium Due Date:________________________ Premium Payment: _____________________
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address: ______________________________________________________________________
Auto Covered:_____________________________________ Policy No.: ___________________
Coverage:_____________________________________________________________________
Premium Due Date:________________________ Premium Payment: _____________________
Liability Insurance
Insurance Agent & Company:_____________________________________________________
Agent Phone No.:______________________ Agent Email Address: _______________________
Address:______________________________________________________________________
Person(s) Covered:______________________________ Policy No.:_______________________
Coverage: ____________________________________________________________________
Premium Due Date:_______________________ Premium Payment: ______________________
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Health Insurance
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address:________________________
Address: ______________________________________________________________________
Person Insured:_________________________________________________________________
Person(s) Covered:__________________________________ Policy No.: ___________________
Coverage: _____________________________________________________________________
Premium Due Date:_________________________ Premium Payment:_____________________
Disability Insurance
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address:________________________
Address: ______________________________________________________________________
Person Insured:_________________________________________________________________
Person(s) Covered:__________________________________ Policy No.: ___________________
Coverage: _____________________________________________________________________
Premium Due Date:_________________________ Premium Payment:_____________________
Long-Term Care Insurance
Insurance Agent & Company: _____________________________________________________
Agent Phone No.:______________________ Agent Email Address:________________________
Address: ______________________________________________________________________
Person Insured:_________________________________________________________________
Person(s) Covered:__________________________________ Policy No.: ___________________
Coverage: _____________________________________________________________________
Premium Due Date:_________________________ Premium Payment:_____________________
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WORK-RELATED INSURANCE Date: __________________
Company Where I Work: ________________________________________________________
Address: ______________________________________________________________________
Phone No.:_____________________ Contact Person:__________________________________
Contact Person’s Phone No.:______________ Contact Person’s Email:______________________
Life Insurance Company:________________________________________________________
Insurance Company Address: ______________________________________________________
Dollar Amount:_______________________ Accidental Death Amount:____________________
Method of Payment:_____________________________________________________________
Person to Contact: ______________________________________________________________
Contact Person’s Phone No.:____________ Contact Person’s Email: _______________________
Policy No.: ____________________________________________________________________
Health Insurance Company: ______________________________________________________
Insurance Company Address:_______________________________________________________
Phone No.:_____________________ Contact Person:___________________________________
Contact Person’s Phone No.:_________________ Contact Person’s Email:____________________
Policy No.:_______________________ Summary of Policy: ______________________________
______________________________________________________________________________
Disability Insurance Company:____________________________________________________
Insurance Company Address:_______________________________________________________
Phone No.:_____________________ Contact Person:___________________________________
Contact Person’s Phone No.:_________________ Contact Person’s Email:____________________
Policy No.:_______________________ Summary of Policy: ______________________________
______________________________________________________________________________
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Dental Insurance Company: ______________________________________________________
Insurance Company Address: ______________________________________________________
Phone No.:_____________________ Contact Person: __________________________________
Contact Person Phone No.:________________ Contact Person’s Email:_____________________
Policy No.:_______________________ Summary of Policy:______________________________
_____________________________________________________________________________
Cancer Insurance Company:______________________________________________________
Insurance Company Address: ______________________________________________________
Phone No.:_____________________ Contact Person: __________________________________
Contact Person Phone No.:________________ Contact Person’s Email:_____________________
Policy No.:_______________________ Summary of Policy:______________________________
_____________________________________________________________________________
___________________ Insurance Company:_________________________________________
Insurance Company Address: ______________________________________________________
Phone No.:_____________________ Contact Person: __________________________________
Contact Person Phone No.:________________ Contact Person’s Email:_____________________
Policy No.:_______________________ Summary of Policy:______________________________
_____________________________________________________________________________
Scan or attach copy of summary of benefits from policy or employee handbook
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HEALTH CARE DECISIONSThe time for you to make future health care decisions is when you are healthy enough to make them for yourself. There are three (this will vary by state) basic health care documents that each adult should execute: Health Care Power of Attorney, Living Will, and Durable Power of Attorney. The titles of these instruments may vary by state.
Our objective is to outline the basic decisions you will make to complete each document. There are websites that provide these documents at a cost that is usually lower than an attorney. However, we recommend you use a godly, experienced estate attorney who can draft the documents incorporating your decisions and have them properly executed.
The most important decisions you need to make are selecting the people who will make your health care and financial decisions if you are no longer able to make them. Be patient, and pray about these appointments. They should be godly, responsible people who are capable of making wise decisions and have your best interests at heart.
Health Care Power of Attorney (also known as a Medical Power of Attorney or Health Care Surrogate in some states). You appoint an adult to make health care decisions for you when you become unable to make them for yourself. The person you select must agree in writing to the appointment.
The person you appointed may withhold or agree to any type of health care, medical and surgical treatments, life-prolonging interventions, nursing care, hospitalization, treatment in a nursing home, and home health.
Health Care Power of Attorney Decisions:
In the event I have been determined to be incapacitated to provide informed consent for medical treatment and surgical and diagnostic procedures, I wish to designate, for health care decisions:
Name: ________________________________________________________________________
Street Address: __________________________________________________________________
City: _____________________________________________ State: __________ Zip: _________
Phone No.: ________________________ Email Address: ________________________________
If the person I have selected is unwilling or unable to perform his or her duties, I wish to designate:
Name: ________________________________________________________________________
Street Address: __________________________________________________________________
City: _____________________________________________ State: __________ Zip: _________
Phone No.: ________________________ Email Address: ________________________________
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I fully understand that this designation will permit my designee to make health care decisions and to provide, withhold, or withdraw consent on my behalf; to apply for public benefits to defray the costs of health care; and to authorize my admission to or transfer from a health care facility.
Additional Instructions (optional):
I will notify and send a copy of this document to the following people so they may know whom I have appointed.
Name: ________________________________________________________________________
Name: ________________________________________________________________________
Living Will. A Living Will (often called an advance directive) identifies the types of care a person does or does not want to receive in the event he or she becomes mentally incompetent during a terminal illness, or permanently comatose.
Living Will Decisions:
Yes _______. No ________. If I have a terminal condition and my attending doctor has determined that there is no medical probability of my recovery, I direct that life-prolonging procedures be withheld or withdrawn when they would serve only to prolong artificially the dying process, and that I be permitted to die naturally with only the administration of medication or the performance of a medical procedure to provide me with comfort or to alleviate pain.
___________ Yes, I do _________ No, I do not desire that nutrition and hydration (food and water) be withheld or withdrawn when they would serve only to prolong artificially the dying process.
My Living Will Agent’s Name: _____________________________________________________
Address: ______________________________________________________________________
Phone No.: _______________________________ Email Address: ________________________
My Living Will Alternate Agent’s Name: _____________________________________________
Address: ______________________________________________________________________
Phone No.: _______________________________ Email Address: ________________________
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Durable Power of Attorney. If you become disabled or legally incapacitated, the Durable Power of Attorney goes into effect. As with a traditional Power of Attorney, it names the person who is authorized to act on your behalf when managing your financial affairs. The person you have appointed must agree in writing to serve in this role.
My Durable Power of Attorney Appointee’s Name:______________________________________
Address: ______________________________________________________________________
Phone No.: _______________________________ Email Address ________________________
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FUNERAL INSTRUCTIONS(Husband, if married)
Date: ___________________
These are the wishes of: (Name) _____________________________________________________
Funeral Home Preference:
Name: ________________________________________________________________________
Address: _______________________________________________________________________
Phone No.:_____________________ Email Address: ___________________________________
Contact Person: _________________________________________________________________
Description of any arrangements you have made with the funeral home (if prepaid, attach a copy of the contract: ___________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Viewing Wishes & Personal Accessories: Open Casket: ___ Closed Casket: ___ Description of Clothing ____________________ Wedding Band: ______ Glasses: _______ Other:___________
Location of Service:
Name of Church or Funeral Home: _________________________________________________
Address: ______________________________________________________________________
Requests for Funeral Service:
Name of Minister: _______________________________ Ministers Phone No.:_______________
Description of Service: ____________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Participating Organizations (military, fraternal, etc.): _____________________________________
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Musical Selections: ______________________________________________________________
Organist: ____________ Pianist: ______________ Vocalist: ____________ Other:____________
Special Requests: (biblical passages, clothing, additional speakers, etc.): _______________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Interment:
Name of Cemetery: ______________________________________________________________
Address: _____________________________________________ Phone No.: ________________
Location of Cemetery Lot(s): _______________________________________________________
Legal Description: Lot # _____________ Block #______________ Section # ________________
Casket: I would like the following type of casket: _______________________________________
______________________________________________________________________________
Pall Bearers: I would like the following pall bearers: _____________________________________
______________________________________________________________________________
Cremation: Yes_________ No__________
If you choose to be cremated, describe what you would like done with your ashes:_______________
______________________________________________________________________________
Memorial: I would like flowers: Yes _________ No ____________
If no, in lieu of flowers please make contributions to the following organizations:
1. ____________________________________________________________________________
2. ____________________________________________________________________________
3. ____________________________________________________________________________
Donors Information: I wish _______ I do not wish ________ to make an anatomical gift, to take effect upon my death. If you do wish to make such a gift, we recommend you make a copy of the document and include it in this section. Keep the original in a secure place.
Signed:______________________________________________ Dated:___________________
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FUNERAL INSTRUCTIONS(Wife, if married)
Date: ___________________
These are the wishes of: (Name) _____________________________________________________
Funeral Home Preference:
Name: ________________________________________________________________________
Address: _______________________________________________________________________
Phone No.:_____________________ Email Address: ___________________________________
Contact Person: _________________________________________________________________
Description of any arrangements you have made with the funeral home (if prepaid, attach a copy of the contract: ___________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Viewing Wishes & Personal Accessories: Open Casket: ___ Closed Casket: ___ Description of Clothing ____________________ Wedding Band: ______ Glasses: _______ Other:___________
Location of Service:
Name of Church or Funeral Home: _________________________________________________
Address: ______________________________________________________________________
Requests for Funeral Service:
Name of Minister: _______________________________ Ministers Phone No.:_______________
Description of Service: ____________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Participating Organizations (military, fraternal, etc.): _____________________________________
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Musical Selections: ______________________________________________________________
Organist: ____________ Pianist: ______________ Vocalist: ____________ Other:____________
Special Requests: (biblical passages, clothing, additional speakers, etc.): _______________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Interment:
Name of Cemetery: ______________________________________________________________
Address: _____________________________________________ Phone No.: ________________
Location of Cemetery Lot(s): _______________________________________________________
Legal Description: Lot # _____________ Block #______________ Section # ________________
Casket: I would like the following type of casket: _______________________________________
______________________________________________________________________________
Pall Bearers: I would like the following pall bearers: _____________________________________
______________________________________________________________________________
Cremation: Yes_________ No__________
If you choose to be cremated, describe what you would like done with your ashes:_______________
______________________________________________________________________________
Memorial: I would like flowers: Yes _________ No ____________
If no, in lieu of flowers please make contributions to the following organizations:
1. ____________________________________________________________________________
2. ____________________________________________________________________________
3. ____________________________________________________________________________
Donors Information: I wish _______ I do not wish ________ to make an anatomical gift, to take effect upon my death. If you do wish to make such a gift, we recommend you make a copy of the document and include it in this section. Keep the original in a secure place.
Signed:______________________________________________ Dated:___________________
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GUARDIANS FOR CHILDRENA guardian is an adult designated to care for a child in case both parents die before the child reaches adulthood. While this may be uncomfortable to think about, it is one of the most important decisions you have to make. If you don’t choose a guardian, the courts will do it for you. The judge may choose someone who does not embrace your values and does not know Christ as Savior. After much prayer, Bev and I selected a couple outside of our families to serve as guardians. We knew them well, admired the way they were raising their children, and trusted them completely.
It is wise to select a guardian and an alternate guardian in case your first choice is unable to serve sometime in the future. Also, it is wise to separate the roles of guardian of your children and trustee of your finances. This will help keep the guardian accountable to spend your estate’s finances solely for the benefit of your children.
Deciding the guardian of your children is often a very difficult and emotional decision. List the possible candidates, then prayerfully discuss with your spouse the strengths and weaknesses of each candidate.
Here are a few things to consider when choosing a guardian:
• Whose parenting style, values, and commitment to Jesus Christ most closely match your own?
• Who is most able to take on the responsibility of caring for children – emotionally, financially, and physically?
• Who do your children feel comfortable with already?• Would your children have to move away, and would that pose any problems?• Does the person you’re considering have other children? If so, would your children fit in
well with them?• Would the person have the time and energy to devote to your children?
Once you have made your selection, invite your choice to serve as guardian.
Guardian of Our Children: ______________________________________________________
Address: _____________________________________________________________________
Phone No.: _____________________________ Email Address: _________________________
Alternate Guardian of Our Children: ______________________________________________
Address: _____________________________________________________________________
Phone No.: _____________________________ Email Address: _________________________
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DISTRIBUTION OF PERSONAL PROPERTYOne of the biggest areas of conflict among heirs are items that may have little value if sold to others but have enormous sentimental value and importance to surviving family members.
To help minimize the potential relational damage among heirs, it can be helpful for you to choose how you wish some of your personal property distributed. After making your selections, it can be wise to meet together with all your heirs and explain why you have made these decisions.
BENEFICIARY ITEM
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
___________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
____________________________ _______________________________________________
___________________________ _______________________________________________
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GIVING LISTJust as investors seek to grow their portfolios on earth, so followers of Christ should view their giving as an investment portfolio in heaven. In Matthew 6:20, Jesus instructs us, “Store up for yourselves treasures in heaven.” The Lord wants us to have an investor mentality when we consider funding the work of God. Giving from our estate should be a normal extension of our stewardship.
The grid below is intended to help you identify – in addition to your church – the ministries you truly care about. The top of the grid represents the basic categories of recipients: your church, evangelism, discipleship, and the needy. The other axis represents geography. Christ said, “You shall be My witnesses both in Jerusalem, and in all Judea and Samaria, and even to the remotest part of the earth” (Acts 1:8). Similarly, we have divided the geography into local (Jerusalem), national (Judea), and international (remotest parts of the earth).
Complete the grid to identify the ministries the Lord has given you a desire to support financially. Which of the ministries would you consider funding from your estate? How much support would you like to give the ones you have chosen?
Church Evangelism Discipleship Needy
Local
National
Global
Total
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ESTATE PLANNING WORKSHEET(Complete before meeting with your estate attorney.)
Name: ______________________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Spouse: ______________________________ Social Security No.:_________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Executor/Personal Representative(s): _______________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Successor Executor/Personal Representative(s): ______________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Guardian(s): ___________________________________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Successor Guardian(s): __________________________________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
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Name of Trustee(s):_____________________________________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Successor Trustee(s): ____________________________________________________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Children and Their Spouses
1. Child’s Name: __________________________________ Social Security No.: _____________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Spouse: ______________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
2. Child’s Name: _________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Spouse: ______________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
3. Child’s Name: ___________________________________ Social Security No.: ____________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
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Name of Spouse: ______________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
4. Child’s Name: ___________________________________ Social Security No.: ____________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Spouse: ______________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
5. Child’s Name: ___________________________________ Social Security No.: ____________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Name of Spouse: ______________________________ Social Security No.: _________________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Grandchildren
1. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
2. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
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3. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
4. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
5. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
6. Name: _______________________________________ Social Security No.: ______________
Address: ______________________________________________________________________
Phone No.: ___________________________ Email Address: ____________________________
Attach your Financial Statement, Asset List, Investment List, and note how each asset is titled (in your name, your spouse’s name, joint ownership, trust, corporation, or other forms of ownership).
Distribution of the estate among the heirs (who, what, when & how)
Heir: ______________________________ What Receive: ______________________________
_____________________________________________________________________________
_____________________________________________________________________________
Describe When & How Receive: ___________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Heir: ______________________________ What Receive: ______________________________
_____________________________________________________________________________
_____________________________________________________________________________
Describe When & How Receive: ___________________________________________________
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_____________________________________________________________________________
_____________________________________________________________________________
Heir: ______________________________ What Receive: ______________________________
_____________________________________________________________________________
_____________________________________________________________________________
Describe When & How Receive: ___________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Heir: ______________________________ What Receive: ______________________________
_____________________________________________________________________________
_____________________________________________________________________________
Describe When & How Receive: ___________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Heir: ______________________________ What Receive: ______________________________
_____________________________________________________________________________
_____________________________________________________________________________
Describe When & How Receive: ___________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
Other Special Provisions: _________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
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ESTATE DOCUMENT CHECKLIST Date: _____________________
Person Covered Document Need, but don’t Document by Document Needs Revision have Document
Will ____________________ ____________ _____________
Will ____________________ ____________ _____________
Trust ____________________ ____________ _____________
Trust ____________________ ____________ _____________
Medical Power of Attorney ____________________ ____________ _____________
Medical Power of Attorney ____________________ ____________ _____________
Living Will ____________________ ____________ _____________
Living Will ____________________ ____________ _____________
Durable Power of Attorney ____________________ ____________ _____________
Durable Power of Attorney ____________________ ____________ _____________ Other__________ ____________________ ____________ _____________
Other__________ ____________________ ____________ _____________
Other__________ ____________________ ____________ _____________
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