10
MERCERS
Questionnaire for the preparation of your Will
Answers to this questionnaire will assist us in advising you on the preparation or review of your Will and any possible Inheritance Tax liabilities which may arise on your death. The questionnaire does not aim to be totally comprehensive and further discussions may be necessary. If some information is not readily available please do not let this delay your returning it with what information you can provide so that we can commence work on your Will. You can provide the outstanding information later.
1. (a) NAME (all forenames and surname)
(b) If you hold any assets e.g. bank accounts, shares, title to land, in any different name than the one you have written above it is crucial that you write it here
ASSET VARIANT OF NAME
(c) HOME ADDRESS
(d) D.O.B
(e) HOME TELEPHONE:
MOBILE TELEPHONE:
EMAIL ADDRESS:
2. Are you domiciled in England and Wales?
3. DO YOU HAVE a Will already in existence (not held by or known to ourselves)? If so a copy could prove helpful to us, but only supply this if easily available to you as it is not essential.
4. NAMES AND CONTACT DETAILS D.O.B
(a) Husband/Wife
(b) Children
5. Are you married / do you intend on marrying, re-marrying or entering into a civil partnership in the future?
6. Do you have a past spouse or civil partner?
7. Have you been widowed? If your previous spouse / civil partner has predeceased you, did he / she leave you all of his / her assets? Did he / she leave a Will? If so please supply a copy. What was the approximate value of his / her estate?
8. Do you have any dependents? (Current or past relationships)
9. Are you / your spouse / partner or any of your children a US citizen / green card holder?
10. Does your spouse / partner have a Will? If not, do they need to make a Will?
11. LAND/BUILDINGS
(a) Do you own your home? YES/NO
(b) Do you own any other property? YES/NO
If so, please give brief details:
(c) Approximate
values of each
(d) Amount of
outstanding
charge or
mortgage on each
(e) Please state if your home/other property is owned with another person(s). If so, please state with whom it is owned and (should you know the answer) whether it is owned as “joint tenants” (so that on your death it will pass automatically to the survivor) or as “tenants in common” (so that your share - what is its size? - will pass under the terms of your Will). If you require further guidance as to the meaning of these phrases please let us know.
12. PLEASE INDICATE value (a rough estimate will suffice) of the following:
(a) QUOTED STOCKS/SHARES/UNIT TRUSTS ETC.
£
(b) BANK/BUILDING SOCIETY/OTHER SAVINGS ACCOUNTS ETC.
£
Please indicate if any of the above are held in joint names and with whom.
13. LIFE ASSURANCE POLICIES (e.g. life policies, mortgage protection policies,
endowment policies, MWPA policies)
Please state type of policy and value and type of benefits (and beneficiaries if not you or your estate).
14. PENSION PROVISIONS
Please state if you have any “death-in-service” benefit or other such benefits to provide directly for beneficiaries. You may need to sign a Letter of Wishes, a copy of which might be kept with your Will.
15. Do you have a financial adviser / accountant / stockbroker who advises you? If so, please supply details.
16. OTHER PROPERTY
Please identify and specify the approximate value of any other property you consider to be of value or importance, e.g. business or partnership interests, shares in private companies, valuable personal effects (antiques), Lloyds underwriting interests, etc. Also mention any foreign property or assets (for this purpose outside England and Wales) you consider to be of value or importance (please indicate if there is a foreign Will dealing with this.
17. DO YOU EXPECT to receive any substantial inheritance in the near future or do you have any interest in a trust or settlement? If so, please specify with approximate values.
18. FUNERAL INSTRUCTIONS
Do you have any special instructions relating to funeral arrangements, cremation/burial, use of body for transplant surgery or medical education? It is equally important that your family know these wishes in advance.
19. EXECUTORS
Whom would you like to act as your Executors? You may choose anyone - family, friends, or professional advisers such as partners of this firm. Executors will also act as Trustees in appropriate circumstances. Their agreement to their appointment should be obtained beforehand.
20. GUARDIANS
Please supply names and addresses if you wish to appoint a guardian(s) for your infant children (under 18 years), should your husband/wife predecease you. As with Executors, you should obtain their agreement to their appointment beforehand. Are you acting as a guardian for someone else’s children?
21. SPECIFIC GIFTS
Please state any specific gifts you wish to make. Please identify any property / cash legacies and the individuals / institutions / charities (including registered charity number) to whom they given along with their addresses. We will draft the Will so that any Inheritance Tax payable in respect of the gift, or any debt or charge attaching to the asset, is paid out of the remainder of your estate (either by virtue of the general law or by the terms of your Will), unless you state otherwise.
22. RESIDUARY ESTATE
After payment/distribution of specific gifts, payment of tax, debts, funeral expenses, etc. to whom do you wish the remainder of your estate (your “residuary estate”) to pass (either to one person, or several in equal or unequal shares)?
Please also state names of second, third choices etc. together with any age which a person should attain.
[Example: “1. To my wife if she survives me, but if not
2. To such of my children equally who survive me and attain
18/21/25 years
3. Grandchildren to take a deceased child’s share on the same
terms if such child fails to survive me or attain 18/21/25 years”]
More complicated residuary gifts such as life interests or discretionary trusts may be appropriate, but these would require separate discussion.
23. FAMILY LAW REFORM ACTS 1969 AND 1987
Present day law provides that (i) illegitimate descendants and (ii) adopted descendants may benefit equally with legitimates unless the contrary is stated in a Will. Please state if you wish to provide to the contrary in either case.
24. Do you own any digital assets? (Email accounts, social media accounts, cloud storage solutions, etc)
25. Have you made an Enduring Power of Attorney or registered a Lasting Power of Attorney?
26. Have you made a living Will?
27. Do you own any pets? Do you have any wishes for what will happen to them after you die?
28. Is there an urgent reason for you making a Will? (Ill health, upcoming major operation, etc)
29. Are you suffering from any illness or taking any medication which might affect your decisions about your Will?
30. We can provide advice on preventing a potential Will dispute. For instance, if there is anyone who might expect to benefit from your Will whom you do not intend to benefit, they may later attempt to make a claim against your estate. We can recommend a number of safeguards to attempt to mitigate the likelihood of dispute. For example, we can arrange for a GP to witness your Will, or for a specialist mental capacity consultant to attend you. Would you like advice concerning this?
31. ANY OTHER INFORMATION
Please mention anything else whatsoever which you may feel to be of importance, for example substantial gifts made in the last 7 years (other than to a spouse or charity). Should you wish to discuss Inheritance Tax planning we would be pleased to advise.