valuable information for your trustee
DESCRIPTION
What information would your trustee or executor need and/or want to know if you died suddenly? Where is the information about your assets, debts, estate planning documents, relatives, retirement benefits, insurance policies? This checklist is designed to get you to put all of that information in one place, and to update it regularly.TRANSCRIPT
L A W O F F I C E S
GIVNER & KAYE A PROFESSIONAL CORPORATION
SUITE 445 12100 WILSHIRE BOULEVARD
LOS ANGELES, CALIFORNIA 90025 www.GivnerKaye.com
www.MajorTaxProblems.com
BRUCE GIVNER ([email protected]) OWEN D. KAYE ([email protected]) KATHLEEN GIVNER ([email protected]) NEDA BARKHORDAR ([email protected])
PHONE (310) 207-8008 (818) 785-7579
FAX (310) 207-8708 (818) 785-3027
August 28, 2014
Valuable Information For Your Trustee What if you died suddenly? What information would your trustee need to know to be able to administer your estate? The trustee must know what the assets are, what the debts are, and how to contact your beneficiaries. The trustee would like a copy of your most recent tax return, a personal financial statement, information about any insurance policies, safe deposit boxes, special assets (art, patents), and access to your on-line accounts (Facebook, Schwab) and your personal computer (password). The list below is not complete. It is designed to get you to think about these important facts and issues.
Contact Information: Family and Advisors
Item #
Name Description Location1 Notes
1.A
1.B
1.C
1.D
1.E
Your Parents’ Names, Dates of Birth, Dates and Places of Death
Your Names and Dates and Places of Birth
Your Children’s Names, Dates and Places of Birth, addresses, phone numbers and e-mail addresses
Relatives’ names, birthdates, addresses, phone numbers and e-mail addresses
In case of emergency contact:
1 The location might be physical, e.g., a file cabinet at the home. Or the location might be electronic, e.g., on your personal computer at home or on some web site or “in the cloud.”
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 2 of 8 Item
# Name Description Location Notes
2. Accountant’s name, address, phone number and e-mail
3. Property & casualty insurance agent’s name, address, phone number and e-mail
4. Business lawyer’s name, address, phone number and e-mail
5. Money manager’s name, address and contact information
6. Commercial banker’s name, address, contact info
7. Life insurance agent’s name, address, contact info
8. Personal physician’s name, address and contact information
9. Religious leader’s/ institution’s name, address and contact information
Estate Planning Documents
10. Wills, and codicils Dates
11. Revocable (family) Trust, and amendments
Dates Trustees?
For Beneficiaries provide the address, phone number, e-mail address and Social Security Number
12. Durable powers of attorney Dates
Appointees?
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 3 of 8 Item
# Name Description Location Notes
13. “Blanket” Assignment of Assets Date
14. Other documents transferring assets to the trust
Dates
15. Family charitable foundation?
16. Donor advised fund with a community foundation or money manager?
17. Charitable remainder trust?
18. Irrevocable trusts Trustee? Assets?
19. Family business entities, e.g., FLPs, FLLCs, closely held corporations
Assets?
Other Important Documents
20. Birth certificates
21. Naturalization papers
22. Adoption papers
23. Passports - citizenships Numbers, date and location of issue
24. Marriage license
25. Pre- or post-nuptial agreement
26. Domestic partnership registration
27. Divorce papers
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 4 of 8 Item
# Name Description Location Notes
28. Veteran’s discharge
29. Burial instructions What ceremony would you like, whom to officiate, etc.
Unless you specify, the person appointed as agent under the health care power of attorney makes the decision
30. Cemetery lot
31. Social Security Numbers for you, your spouse and children
32. Veteran’s Administration C number
33. Recent income tax returns At least the most recent 3 years
34. Any gift tax returns If the CPA doesn’t have access to these it is easy to commit malpractice when preparing the estate tax return (IRS Form 706).
35. Business records If these are located in the residence, they can easily be destroyed or looted by a housekeeper or an unhappy significant other or spouse #2
Insurance
36. Health care coverage
37. Dental plan
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 5 of 8 Item
# Name Description Location Notes
38. Vision plan
39. Home – title insurance policy
40. Home – insurance policies, e.g., fire and earthquake
41. Umbrella insurance policy Company name, policy #, policy type, insured, beneficiary, travel policy, Accidental Death
42. Personal life insurance policies Company name, policy #, policy type, insured, beneficiary, travel policy, Accidental Death
Asset Information
43. On-line brokerage accounts such as Charles Schwab
Log-in and password
44. Securities Brokers Firm name, agent, account number, address, phone number, e-mail address
45. Home – copy of grant deed
46. Cars – certificates of ownership
47. Safe deposit boxes Who has access?
48. Other storage units?
49. Coin collection
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 6 of 8 Item
# Name Description Location Notes
50. Art collection Guess of current value
51. Wine collection Guess of current value
52. Pets
53. Jewelry Guess of current value
54. Checking accounts Bank name, location, account numbers
55. Savings Accounts Bank name, location, phone number, account numbers
56 Private Company Retirement Accounts, including IRAs
Business name or IRA sponsor, address, phone number, account numbers
57. Public Employees’ Retirement System
Name of government, address, phone number, account numbers
58. Veterans’ Administration Benefits
Cal Vet Benefits
Name of anyone to whom you have spoken, address, phone number, account numbers
59. Social Security Benefits
Cal Vet Benefits
Name of anyone to whom you have spoken, address, phone number, account numbers
60. Money Market Accounts Name of bank, location, phone number, account numbers
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 7 of 8 Item
# Name Description Location Notes
61. Bonds Registered in the name of or held by. Transaction receipts and quarterly statements.
62. Airline Mileage accounts
63. Employer death benefits Employer name, value of benefits
64. Cal-Vet Benefits
65. Investment real property(ies)
66. Membership interest in LLCs
67. Partnership interests
68. Stock in closely held corporations
69. Interest as beneficiary in trusts
70. List of assets, and their value, in your residence, including furniture, art, cash in your wallet and elsewhere, clothing (including valuable furs), weapons and drugs
71. Valuable internet logins and passwords, and passwords for your personal computer
72. Miscellaneous
Debt Information
73. Home loan Lender? Balance?
LAW OFFICES
GIVNER & KAYE A PROFESSIONAL CORPORATION
Valuable Information For Your Trustee August 28, 2014 Page 8 of 8 Item
# Name Description Location Notes
74. Home – deed of trust
75. Other loans Lender – amounts outstanding
76. Credit card balances
77. Payments made automatically each month
Must terminate these promptly to avoid creating liabilities for the estate