8. checklist for a discretionary testamentary trust and ... · testamentary trust and other estate...

1104813_1.DOC

8. Checklist for a Discretionary Testamentary Trust and Other Estate Planning Documents

This form will be used in conjunction with a personal discussion with TressCox to draw up a Testamentary Trust Will and other Estate Planning documents that reflects your wishes. In considering your Estate Planning requirements, it is important to consider the following factors which will form the basis of your instructions: 1. What assets do I have now and potentially in the future to dispose of

under my Will? 2. What assets are in trusts and superannuation funds? 3. Who do I wish to appoint as Executor to administer my Estate? 4. Who do I wish to appoint as guardian of my minor children? 5. Who do I wish to appoint as Trustee(s) of the Testamentary Trust(s)? 6. Who do I wish to appoint as Appointor(s) of the Testamentary Trust(s)? 7. Who are the Primary Beneficiaries of the Testamentary Trust(s)? 8. Who are the Secondary Beneficiaries of the Testamentary Trust(s)? 9. Who are the Tertiary Beneficiaries of the Testamentary Trust(s)?

Please complete the following details and return to:

Michael Heraghty TressCox Lawyers GPO Box 7085 SYDNEY NSW 2001 Tel: 02-9228 9208 Mobile: 0410-347936 Fax: 02-9228 9299 Email: [email protected]

mailto:[email protected]

1104813_1.DOC

Giving thought to the above considerations and providing us with information requested about yourself, your family and your assets, will enable you and your TressCox Client Adviser to put together the details necessary to prepare your Estate Planning documents.

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CONTENTS I. Personal II. Your Family III. Your Assets IV. Testamentary Trust Will V. General Instructions

IMPORTANT DECLARATION I DECLARE that these instructions to you for preparation of my Will:

Please tick appropriate box Should revoke any former Will and take effect as my Will if I die before signing my formal Will

OR

Are only for the purpose of preparing a draft which I may change or alter upon receipt.

DATED........................................................... First Witness:.................................................. Signature:……………………………………… Print Name: ................................................... Second Witness: ........................................... Signature:……………………………………… Print Name: ................................................... Note: Witnesses must be over 18 years of age and must not be a beneficiary named in the Will or

the spouse of a beneficiary named in the Will.

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I. PERSONAL YOUR DETAILS: Surname: Given names: Maiden name/any alias:

Marital status: Single Engaged Married DeFacto Separated Divorced Widowed

Date of marriage: Date of birth Place of birth:

Description of Occupation for Will (e.g. Company Director, Doctor, Home Duties):

Residential address: Postcode:

Postal address: Postcode:

Telephone: (home) (work)

Pension type:

YOUR CURRENT PARTNER/SPOUSE/DE-FACTO DETAILS: (Ignore this section if your spouse or de facto is completing a separate form) Surname: Given names:

Maiden name/any alias:

Marital status: Single Engaged Married DeFacto Separated Divorced Widowed

Date of birth: Place of birth:

Description of Occupation for Will (e.g. Company Director, Doctor, Home Duties):

Residential address: Postcode:

Postal address: Postcode:

Telephone: (home) (work) Pension type

Note: If there has been any previous marriage/s or long term relationship/s the section above should be completed for

each partner.

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II. YOUR FAMILY YOUR FAMILY DETAILS: As well as details of nominated beneficiaries, the particulars of any previous spouse(s), children, children formally or informally adopted, stepchildren, former or current dependants and guardians MUST BE provided, whether or not you intend to benefit these people. This information is important to identify likely actions or claims against your estate. Name Address Relationship

YOUR PARTNER’S FAMILY DETAILS Please complete if information differs from that above. Name Address Relationship

PARTICULARS OF SEPARATION OR DIVORCE: What was the date of your separation ? / /

If you divorce has been finalized, what was the date? / /

Has there been or is there currently a property settlement to be determined Yes No

If YES, full particulars are needed, such as:

(a) Has the settlement been sealed or is the settlement to be sealed in the Family or Magistrates Court? Yes No

(b) Have the terms of the settlement been carried out? Yes No

If NO, please provide particulars of what is to be completed:

(c) Is maintenance payable for the spouse? Yes No

(d) Is maintenance payable for the children: Yes No

(e) Who are the solicitors acting (if any)?

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III. YOUR ASSETS REAL ESTATE Specify if held as joint tenants or tenants in common Address Date purchased Purchase price Value $ $

$ $

$ $

$ $

$ $

OWNERSHIP:

Joint Tenants Yes No Tenants in Common: Yes No

With Whom:

Title deeds held by:

Safe Custody Box/Packet At:

Please provide a copy of the Certificate of title

OWNERSHIP:


With Whom:




OWNERSHIP:


With Whom:




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OWNERSHIP:


With Whom:




OWNERSHIP:


With Whom:




SUPERANNUATION:

Fund

Policy holder

Nominated beneficiary Binding Non Binding

Please provide a copy of the superannuation deed and any written nominations made

LIFE INSURANCE:

Policy Company

Life insured Assured/Owner:

Nominated beneficiary

Please provide copies of life insurance schedules

ACCOUNTANT:

FINANCIAL ADVISER:

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Estimated or

known value FURNITURE: $

JEWELLERY: $

BANK ACCOUNTS: Bank Branch Account No

$

$

$ CASH MANAGEMENT FUNDS:

Estimated or known value

SHARES/UNITS/TRUSTS/DEBENTURES:


Company No of shares Cert. No Purchase date & Price

Unit Trusts No of shares Cert No Purchase date & Price

Property Trusts No of shares Cert No Purchase date & price

Debentures Interest Maturity

Mortgages Principal Maturity

Government Stocks Rates Maturity

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OTHER INTERESTS:


Family Trust

Business

Please provide a copy of your family trust deed and all amending deeds

Private Companies (ACN Number) No of shares Type

Shares in partnerships

Overseas assets

Interest in estates/settlements

Motor vehicles/boats/caravans

Type: Reg No Purchase date

Other (please specify) Estimated or

known value

ESTIMATED VALUE $

AMOUNT

LIABILITIES

Assets Financier Amount of loan

Outstanding

Mortgage over real estate

Personal loans

Bank overdraft

Other

Estimated Value

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Please tick appropriate box

1. Do you have a Will? (If so, please send a copy) Yes No

2. Are all your assets located in the state you live in Yes No

If NO, where? Other Australian states

Other countries

APPOINTMENT OF EXECUTOR Executor Name:

Address:

Occupation

Alternate Executor #1

Name

Address

Occupation

Alternate Executor #2

Name

Address

Occupation

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IV. TESTAMENTARY TRUST WILL Please tick appropriate box

A. Do you wish your estate to pass to your spouse if your spouse survives you? This will mean that the Testamentary Trust will not come into effect if your spouse survives you.

Yes No

B. Do you want one pooled testamentary trust where all your Primary Beneficiaries are grouped together or do you want separate testamentary trusts for each main Primary Beneficiary (ie, your children) so the assets are split equally and placed into a separate trust for each main Primary Beneficiary?

Pooled Trust

Separate Trust

C. Please list the name(s) you would like to call your Testamentary Trust(s). For example, for a pooled trust ‘The Smith Family Testamentary Trust’ or for a separate trust ‘The Joe Bloggs Settlement’.

Pooled Trust:

Trust Name

Separate Trusts: Trust Name Child Name % of share Age

Example: Joe Bloggs Settlement Joe 50% 25

1

2

3

4

5

6

D. Please List the groups of beneficiaries to be noted as Primary Beneficiaries of your

Testamentary Trust(s). For Example, your spouse (if your answer to paragraph A above was No), your children, grandchildren and grandchildren.

Pooled Trust:

Name of Primary Beneficiary Address of Primary Beneficiary Age Relationship to you

1

2

3

4

5

6

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Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of your pooled trust to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes

Separate Trusts:

Trust 1 Name:

Name of Primary Beneficiary Address of Primary Beneficiary Age Relationship

to you

1

2

3

4

5

6

Please indicate the classes of beneficiaries to be included as Primary Beneficiaries of Trust 1 to take into consideration children, grandchildren or great grandchildren not yet born Children Grandchildren Great Grandchildren Please tick appropriate boxes

Trust 2 Name:


to you

1

2

3

4

5

6


Trust 3 Name:


to you

1

2

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3

4

5

6


Trust 4 Name:


to you

1

2

3

4

5

6


Trust 5 Name:


to you

1

2

3

4

5

6


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Trust 6 Name:


to you

1

2

3

4

5

6


E. Please List the groups of beneficiaries to be noted as Secondary Beneficiaries of your

Testamentary Trust(s). Please note that the Secondary Beneficiaries will not benefit under the Will whilst any of the Primary Beneficiaries are alive.

Pooled Trust: For Example, other family such as parents, brothers, sisters, etc

Name of Secondary Beneficiary

Address of Secondary Beneficiary

Age Relationship to you

1

2

3

4

5

6

Separate Trusts: For Example, your other children and their family

Trust 1 Name:




1

2

3

4

5

6

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Trust 2 Name:




1

2

3

4

5

6

Trust 3 Name:




1

2

3

4

5

6

Trust 4 Name:




1

2

3

4

5

6

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Trust 5 Name:




1

2

3

4

5

6

Trust 6 Name:




1

2

3

4

5

6

F. Please List the groups of beneficiaries to be noted as Tertiary Beneficiaries of your

Testamentary Trust(s). These are normally your extended family or a charity. Please note that the Tertiary Beneficiaries will not benefit under the Trust until all of the Primary and Secondary Beneficiaries have died.

Pooled Trust:

Name of Tertiary Beneficiary Address of Tertiary Beneficiary Age Relationship to you

1

2

3

4

5

6

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Separate Trusts:

Trust 1 Name:

Name of Tertiary Beneficiary Address of Tertiary Beneficiary Age Relationship

to you

1

2

3

4

5

6

Trust 2 Name:


to you

1

2

3

4

5

6

Trust 3 Name:


to you

1

2

3

4

5

6

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Trust 4 Name:


to you

1

2

3

4

5

6

Trust 5 Name:


to you

1

2

3

4

5

6

Trust 6 Name:


to you

1

2

3

4

5

6

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G. Please list the Trustees of the Trust(s). The Trustee will be responsible for administering the Trust(s). You can appoint one or more Trustees and a beneficiary can be nominated as a Trustee.

Pooled Trust Name of Trustee Address of Trustee

1

2

3

4

Separate Trusts: Trust 1:

Name of Trustee Address of Trustee

1

2

3

4

Trust 2:


1

2

3

4

Trust 3:


1

2

3

4

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Trust 4:


1

2

3

4

Trust 5:


1

2

3

4

Trust 6:


1

2

3

4

H. Please list the Appointors of the Trust. The Appointors will be responsible for making sure the

Trustees are acting in accordance with your wishes and have the power to remove and replace the Trustee. You can appoint one or more Appointor and a beneficiary can be nominated as an Appointor. The Appointor can also be the same person as the Trustee.

Pooled Trust Name of Appointor Address of Appointor

1

2

3

4

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Separate Trusts: Trust 1:

Name of Appointor Address of Appointor

1

2

3

4

Trust 2:


1

2

3

4

Trust 3:


1

2

3

4

Trust 4:


1

2

3

4

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Trust 5:


1

2

3

4

Trust 6:


1

2

3

4

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V. GENERAL INSTRUCTIONS If you intend to make any specific gifts of money, real estate, jewellery and special items prior to the establishment of the trust(s), please provide a full description of the intended gifts as well as the full names and the relationships to you of the persons receiving them. SPECIAL GIFTS OF MONEY Name of beneficiary Address Relationship Amount

SPECIFIC ASSETS Name of beneficiary Address Relationship Items

Note: Should there not be enough space to cover all items above, please furnish on a separate list. REAL ESTATE GIFTS Name of beneficiary Address Relationship Property Address and

Title particulars

If there is a mortgage over the property is the Free of the Subject to beneficiary to take the gift mortgage the mortgage If any beneficiary is under 18 years, please state at what age you wish them to inherit. AGE……….

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OTHER INSTRUCTIONS Where unusual instructions are involved, such as:

unequal split of assets between the trusts for each of your children the omission of a spouse or child as a beneficiary a de facto relationship a life interest to be created any beneficiary likely to be unable to manage their financial affairs for any medical or other

reason Please note your wishes below

GUARDIAN OF INFANT CHILDREN Do you wish to nominate a guardian for your infant children? Yes No

If YES, please nominate:

Name Address Relationship

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FUNERAL ARRANGEMENTS If you want to specify funeral instructions in your Will, please tick the appropriate box

1. Burial

2. Cremation

3. Other

4. Prepaid funeral

SPECIAL PROVISIONS

POWER OF ATTORNEY

Attorney:

Name:

Address:

Occupation:

Co-Attorney:

Name:

Address:

Occupation:

ENDURING GUARDIAN

Name:

Address:

Occupation:

Name:

Address:

Occupation: