Shands & Haynes, LLC 117 N. Kirkwood Rd. Suite 111A Attorneys & Counselors At Law Kirkwood, MO 63122
Phone: 636-299-0176
Together, Forward. Fax: 636-385-5230
Estate Plan Assets
The key to having a successful estate plan is actually making sure all of your assets go into the plan. This may sound obvious, and it is – but unfortunately many estate planning firms don’t actually do this step. Instead, they send clients home with vague instructions about transferring titles and changing beneficiaries and expect clients to magically get their assets in perfect legal order. As a result, most estate plans crafted by these firms do not actually end up with all of the client’s assets, rendering them worthless.
I take a different approach. I don’t expect you to understand and deal with the legal wrangling and complex bureaucracies that happen behind the scenes at your financial institutions. I don’t just cross my fingers and hope for the best – I actually care about my clients and take the time to make sure your estate plan is fully funded.
I work with your financial planner, financial institutions, insurance companies, and county recorders to make sure that all of your assets are held under the proper names, with the proper beneficiaries, so that your estate plan actually works.
For example, if you have a bank account you want to avoid probate, I will use my power of attorney to get your bank to change the account holders to reflect yourself and another person as joint owners. If you have a trust, I will draft a deed transferring ownership of your house from yourself as an individual to yourself as trustee of your trust, and then file it with the St. Louis County Recorder of Deeds office.
Financial Planner
A financial planner is someone who manages your all, or a portion of, your assets for you. This may be someone at your bank (ex: Commerce Bank), an investment company (ex: Edward Jones), or an independent wealth management company (ex: MBM Financial). If you manage your assets yourself, you probably do not have a financial planner.
____ I do not have a financial planner.
____ I’m not sure if I have a financial planner.
____ I do have a financial planner, and this person’s information is below:
Name:
Company:
Phone Number:
Real Estate
Real estate is property consisting of land or buildings, such as your primary residence, vacation home, family farm, a business where you own (not rent) the property, etc. Include additional pages as necessary.
Type of Real Estate:
Address:
County: State:
Estimated Value:
Current Ownership (on deed):
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Type of Real Estate:
Address:
County: State:
Estimated Value:
Current Ownership (on deed):
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Type of Real Estate:
Address:
County: State:
Estimated Value:
Current Ownership (on deed):
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Valuable Personal Property
Vehicles
Personal property is movable property you own. This must include all automobiles, boats, trailers, etc. – anything that has to be regulated by the Department of Motor Vehicles.
Type of Property:
Make: Model:
Owner on Deed: Approximate Value:
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Type of Property:
Make: Model:
Owner on Deed: Approximate Value:
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Type of Property:
Make: Model:
Owner on Deed: Approximate Value:
Is there a mortgage on this property?
Who is on the mortgage:
Mortgage company:
Amount owed:
Repeat for each vehicle, boat, trailer, etc. Include additional pages as necessary.
Valuable Property
Personal property also includes valuable fine jewelry, collections, musical instruments, or works of art that you consider to be separate and distinct from the general possessions in your house.
You will have an opportunity to describe where the general items in your home should go at another time. This section is for especially important or valuable pieces of property.
Examples: $10,000 baseball card collection, $2,000 sculpture, $25,000 3-piece diamond jewelry set.
Type of Property:
Description of Property:
Value of Property:
Is this property insured?
If you had this property appraised, please attach a copy of it.
Type of Property:
Description of Property:
Value of Property:
If you had this property appraised, please attach a copy of it.
Type of Property:
Description of Property:
Value of Property:
Is this property insured?
If you had this property appraised, please attach a copy of it.
Repeat for each item or collection. Include additional pages as necessary.
Retirement Accounts
Typical retirement accounts include IRA’s and 401(k)s, but can also include health savings accounts and 403(b) accounts.
Some special jobs, such as state employees and teachers, pay into a unique retirement system and don’t have traditional retirement accounts. Please let us know if you hold or have held a position which qualifies you to receive benefits under such a retirement system.
Primary Name(s) on the Account:
Type of Account:
Organization:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Primary Name(s) on the Account:
Type of Account:
Organization:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Primary Name(s) on the Account:
Type of Account:
Organization:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Securities
Investment Brokerage Account
A brokerage account is an arrangement between yourself and a licensed investment brokerage firm that allows you to deposit funds with the firm and place investment orders through it.
Name of Firm:
Contactperson (if you have one):
Current Value of All Assets Invested With Firm:
Transfer on Death Beneficiary:
Please attach the most recent account summary for this firm.
Name of Firm:
Contactperson (if you have one):
Current Value of All Assets Invested With Firm:
Transfer on Death Beneficiary:
Please attach the most recent account summary for this firm.
Stocks
A stock is an ownership stake in a business, which often pay dividends of varying amounts when the value of the business increases. Provide the information below for any stock you own in any business which is NOT managed in a brokerage firm listed above.
Name of Business:
Number of Shares:
Identifying Numbers:
Total Value of All Shares:
Transfer on Death Beneficiary:
Please attach the most recent shareholder report issued to you by this business.
Name of Business:
Number of Shares:
Identifying Numbers:
Total Value of All Shares:
Transfer on Death Beneficiary:
Please attach the most recent shareholder report issued to you by this business.
Name of Business:
Number of Shares:
Identifying Numbers:
Total Value of All Shares:
Transfer on Death Beneficiary:
Please attach the most recent shareholder report issued to you by this business.
Bonds
A bond is debt a government or corporation owes you for using your money over a set period of time. The organization agrees to pay a low, fixed amount of interest on that debt when it is taken out. The most common types are US Treasury Bonds.
Provide the information below for any bonds you hold which are NOT managed in a brokerage firm listed above.
Type of Bond (i.e. Treasury)
Bond Face Value / Denomination:
Series (i.e. I, EE):
Issue Date:
Serial Number:
Beneficiary:
Type of Bond (i.e. Treasury)
Bond Face Value / Denomination:
Series (i.e. I, EE):
Issue Date:
Serial Number:
Beneficiary:
Type of Bond (i.e. Treasury)
Bond Face Value / Denomination:
Series (i.e. I, EE):
Issue Date:
Serial Number:
Beneficiary:
Life Insurance
There are many types of life insurance, from temporary to permanent, term or investment, universal, whole life, or endowment. If you aren’t sure what type of policy you have, just provide as much information as you can.
Person Insured:
Company:
Type of Policy:
Policy Number:
Policy Amount:
Please attach a copy of your life insurance plan.
Repeat for each life insurance policy.
Bank Accounts
A bank account includes any checking, savings, certificates of deposit (CD), money market, or other account held at a financial institution. This does not include retirement accounts (IRA, 401k) or investment accounts, unless they were not listed in the previous sections.
Primary Name(s) on the Account:
Type of Account:
Financial Institution:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Primary Name(s) on the Account:
Type of Account:
Financial Institution:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Primary Name(s) on the Account:
Type of Account:
Financial Institution:
Account Number:
Current Balance:
Beneficiary:
Please attach the most recent statement for this account.
Primary Name(s) on the Account:
Type of Account:
Financial Institution:
Account Number:
Current Balance:
Beneficiary:
Business Interest
If you are full or partial owner of a business (excluding simple stock ownership), your passing will have a substantial impact. Does your estate liquidate the business and distribute the assets to your heirs, do your heirs become partners, do your heirs have to sell their shares to the remaining owners (or vice versa?).
There are often significant tax implications for passing on a business.
Name of Business:
State of Registration (i.e. MO):
Type of Business:
Percent Ownership:
Total Value of Business:
How do you want your ownership interest to be passed?
Please provide the operating agreement, articles of incorporation, and bylaws of the business.
Name of Business:
State of Registration (i.e. MO):
Type of Business:
Percent Ownership:
Total Value of Business:
How do you want your ownership interest to be passed?
Please provide the operating agreement, articles of incorporation, and bylaws of the business.
Miscellaneous
Please provide information on any other assets you have. This may include a safe deposit box, time share, a purebred dog used for breeding, livestock, or heavy equipment.
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