estate planning: personal log · estate planning: personal log. provided by navy mutual ....

Estate Planning: Personal Log

Provided by Navy Mutual Nonprofit, Veterans Service Organization Since 1879

800-628-6011 / [email protected] / NavyMutual.org

[email protected] / 800-628-6011 1

How much do your loved ones know about your financial affairs? If you were to die tomorrow, would they have the information needed to close your personal finances and make final arrangements on your behalf? Would your loved ones know where to find insurance policies and other important documents? Would they be aware of all the people and organizations to notify of your death?

By completing this log, you ensure that your family will have vital information that might otherwise be forgotten upon your death. It can also guide your loved ones through the necessary tasks that must be performed after your death. The log should be periodically updated.

If you would like to have this information retained on file at Navy Mutual, send us a duplicate. It will permit us to help your family when the time comes.

Your Name

Date Last Updated

Your Future. Our Promise.SM

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Parental Information

Your Information

Your Spouse’s Information

Name Maiden Name (if applicable)

Rank Date of Rank Service

Social Security Number Service Number (if applicable)

Military Pay Entry Base Date

Active Duty Base Date Date Retired/Separated

I was born on (MO, DAY, YEAR) in (CITY, COUNTY, STATE)

Naturalization on (if applicable: MO, DAY, YEAR) by (Designation and location of court granting naturalization)

Religous Affiliation Fraternal/Sorority Affiliation

Legal Residence

Your Parents

Full Name Date/Place of Birth Date/Place of Death


Your Spouse’s Parents



[email protected] / 800-628-6011

Name Maiden Name (if applicable)

Rank Date of Rank Service

Social Security Number Service Number (if applicable)

Military Pay Entry Base Date

Active Duty Base Date Date Retired/Separated

I was born on (MO, DAY, YEAR) in (CITY, COUNTY, STATE)

Naturalization on (if applicable: MO, DAY, YEAR) by (Designation and location of court granting naturalization)

Religous Affiliation Fraternal/Sorority Affiliation

Legal Residence is

Your Children

Full Name Date/Place of Birth Social Security Number




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Children’s Information


Notification Upon Death

Relatives to Notify

a. Name Relationship Phone Number Email

b.

c.

d.

e.

f.

g.

h.

i.

Friends to Notify


b.

c.

d.

e.

f.

g.

h.

i.

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Notification Upon Death

Friends to Help


b.

c.

d.

e.

f.

g.

h.

i.


If retired military, beneficiary categories elected:

🔲 Spouse 🔲 Spouse and Child(ren)

🔲 Child-Only Election 🔲 Insurable Interest

🔲 Former Spouse and Child(ren) 🔲 Former Spouse

Survivor Benefit Plan (SBP)

Life Insurance

1. I have $ of permanent insurance (whole life insurance) and $ of

term insurance with Navy Mutual.

Plan Numbers:

2. My beneficiary(ies) is/are

My contingent beneficiary(ies) is/are

Note: Ensure that the beneficiaries listed above match the beneficiaries on file at Navy Mutual. This does not represent an official designation of a beneficiary. All beneficiary designations must be officially recorded on the policy by Navy Mutual.

3. The total death benefit currently in effect for my Membership is $

4. I have left the benefit payable:

🔲 In one sum 🔲 On an installment basis for years

🔲 On an interest basis for years 🔲 As an increasing life annuity

5. 🔲 On receipt of notice of my death, 10% of the death benefit or $10,000, whichever is less, is available immediately.

🔲 I have requested that no immediate payment be made.

6. I suggest that the benefit be distributed as follows

7. 🔲 I carry the following life insurance (other than insurance with Navy Mutual):Individual or Name ofGroup Policy Company Policy No. Beneficiary Amount

a. Ind 🔲 Group 🔲 $ b. Ind 🔲 Group 🔲 $c. Ind 🔲 Group 🔲 $d. Ind 🔲 Group 🔲 $e. Ind 🔲 Group 🔲 $

🔲 Upon my death I would like Navy Mutual to contact my insurers.Contact information

5

Life Insurance


8. I carry the following miscellaneous insurance:

a. Automobile Insurance Policy No. (Notify them immediately in case of death and ask for instructions.)

b. Home/Fire/Personal Property Insurance

Policy No.(Notify them immediately in case of death and ask for instructions.)

c. Policy No. (Notify them immediately in case of death and ask for instructions.)

9. All insurance policies are located at

Other Insurance

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1. 🔲 I have made a will. The original of my current will dated is located at

2. 🔲 My spouse has made a will. The original of this current will dated is located at

3. 🔲 My executor is

4. 🔲 Guardians of our children are

5. 🔲 Pets will go to

6. 🔲 My will must be filed after my death. The court will assist you in completing the necessary forms, at a nominal cost.

7. 🔲 It probably will be necessary to have it probated.

🔲 It should not be necessary to have it probated.

Last Will and Testament

1. 🔲 I suggest that you contact

2. 🔲 It should not be necessary to have a lawyer to file my will, collect the insurance, or file death benefit claims with the government, such as a pension, dependency and indemnity, arrears of pay, etc. Navy Mutual can assist in filing these types of claims.

Lawyer


1. 🔲 I have made a living will.

2. 🔲 The original of my current living will dated is located at

Living Will

1. I have 🔲 I have not 🔲 signed an organ donor card.

Anatomical Gifts

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1. I would like to be buried at:

🔲 Arlington National Cemetery

🔲 National Cemetery

🔲

Note: Visit cem.va.gov to download and complete the VA Cemetery Pre-Need Burial Eligibility Determination Form (Form # VA40-10007).

2. Funeral director preference

3. 🔲 I prefer full military honors. 🔲 I do not prefer full military honors.

4. I wish 🔲 I do not wish 🔲 to be buried in uniform.

5. I would like fraternity/sorority ritual.

6. I wish 🔲 I do not wish 🔲 to be cremated.

7. 🔲 I prefer a simple service.

8. Desired date and time of funeral (Remains blank for future use by family in arranging funeral)

9. Request the undertaker to obtain at least 10 copies of my death certificate. A copy will be required by each insurance company, and to change the titles on real estate and personal property.

Burial


Pallbearers

a. Name City/State Phone Number Email

b.

c.

d.

e.

f.

g.

h.

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Should be published in the following locations (e.g. newspapers, social media):

a.

b.

c.

d.

e.

Obituary


1. 🔲 Our marriage certificate

2. 🔲 Divorce decree(s) of

3. 🔲 Death certificate(s) of

4. 🔲 Birth certificates of

5. 🔲 DD Form 214 (Report of Transfer or Discharge)

🔲 is 🔲 is not on file in my jacket in the Navy Mutual vault.

Additional copies are located at

Valuable Papers

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1. 🔲 I have executed a power of attorney, dated

2. I have appointedThis power of attorney is revoked in the event of my death.

Power of Attorney

1. 🔲 I have established a trust.

2. The original of my trust document executed on is located

Trust

🔲 I would like my social media accounts memorialized in the event of my death.

🔲 I would like my social media accounts closed in the event of my death.

a. Social Account Related Email Address Password

b. Social Account Related Email Address Password

c. Social Account Related Email Address Password

d. Social Account Related Email Address Password

(Contact social media company to close the account. Note: Additional items may be required to close the account.)

🔲 I would like my email accounts closed in the event of my death.

a. Email Company Email Address Password

b. Email Company Email Address Password

c. Email Company Email Address Password

d. Email Company Email Address Password

(Contact email company to close the account. Note: Additional items may be required to close the account.)

Social Media and Email


1. The Navy Mutual benefit and other insurance will not normally be subject to federal income tax.2. Insurance is included in my estate and you must file a Life Insurance Statement (Form 712) with

estate tax. Please request the form from Navy Mutual.

3. You must submit federal and state income tax returns after my death. Copies of old returns are

located at4. My disbursing officer or other employer will furnish you with a statement showing the amount

that has been withheld from my pay.

5. The Internal Revenue Service can assist you in filing federal tax returns.

6. Miscellaneous information about taxes

Taxes

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1. Location/Number

2. Key is located

Safe Deposit Box

Bank Accounts, Securities, and Properties

Bank Accounts, Savings and Loans, Credit Unions

a. Institution Account Type Account Number

b.

c.

d.

e.

f.

Certificates of Deposit, Money Market Certificates

a. Institution Certificate Number Maturity Date

b.

c.

d.

e.

f.


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Mutual Funds, Money Market Funds


b.

c.

d.

e.

f.

Corporate Stocks, Bonds

a. Corporation, Agency, or Broker Account Number

b.

c.

d.

e.

f.

IRAs, 401ks, 529s, Pensions, Annuities


b.

c.

d.

e.

f.

Real Estate

a. Type Location Joint Owner

b.

c.

d.

e.


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Automobiles/Vehicles

a. Make/Model/Year Owner(s)

b.

c.

d.

Other Investments, Property

a. Type Owner(s)

b.

c.

d.

e.

f.

My broker is

Financial and property documents are located at

a. Name Account Number

b.

c.

d.

e.

f.

Credit Cards


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Utility Bills: Electricity, Water, Gas, Phone

a. Company Account Number Email Address

b.

c.

d.

e.

f.

Linked to:

🔲 Credit Card

🔲 Bank Account


Other Bills

a. Company Account Number Email Address

b.

c.

d.

e.

f.

Linked to:

🔲 Credit Card

🔲 Bank Account

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Rights and Privileges of a Surviving Spouse (if servicemember dies on active duty or in a retired status)

1. Purchases at Commissary and Post Exchange

2. Medical care and hospitalization eligibility at available facilities

3. Eligibility for VA educational assistance

4. VA Home or Business Loans to the same extent as veterans

5. 🔲 May be eligible for state bonus

Benefits for Dependents(if servicemember dies on active duty)

1. Automatic eligibility for burial in a national cemetery or reimbursement for a private arrangements (up to $8,800). Surviving Spouse may be entitled to the following: a. Death Gratuity b. Arrears of Pay and Unused Leave c. Dependency and Indemnity Compensation from the US Department of Veterans Affairs (Note: This must be applied for; visit va.gov to apply. A Casualty Assistance Officer (CAO) will help with this process.) d. Social Security e. SBP (Note: This must be applied for, visit the Department of Defense’s www.dfas.mil/ RetiredMilitary/survivors/ApplySBP or the Coast Guard’s Pay & Personnel Center www.dcms. uscg.mil/ppc/ras/sbp to apply. A CAO will help with this process.) f. Housing allowance and one relocation move at government expense from last duty station home, within three years of the servicemember’s death g. Servicemembers Group Life Insurance (SGLI)

Benefits for Dependents(if servicemember is retired or separated at time of death)

1. There will be no death gratuity unless death occurs within 120 days after separation and the VA determines death is service connected.

2. There may be arrears of pay.

3. There may be a plot/burial allowance from the VA if the veteran was receiving or entitled to receive compensation from the VA, or died in a VA facility.


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Benefits for Dependents(if servicemember is retired or separated at time of death)

4. There may be additional state benefits such as real estate tax exemption.

5. There may be Social Security survivor benefits based on:

🔲 Employment after Retirement 🔲 Ages of Spouse and Children

🔲 Military Service

6. Benefits under the Survivor Benefit Plan 🔲 Yes 🔲 No

7. Benefits under the Retired Serviceman’s Family Portection Plan 🔲 Yes 🔲 No

8. If my death is the result of a service-connected disability, my spouse will be entitled toDependency and Indemnity Compensation from the US Department of Veterans Affairs (Note: This benefit is not a continuation of disability payments and must be applied for; visit va.gov to apply.)

🔲

I do not have any service-connected disability

I do have a service-connected disability for

VA Claim Number

9. 🔲 If death is not the result of a service-connected disability, the surviving spouse and/or children may be entitled to a pension based on wartime service and their income.

10. I have the following additional life insurance coverage:

🔲 I have VGLI coverage. 🔲 I have NSLI coverage.

Copy(ies) of Personal Log Provided to:

🔲 Spouse 🔲 Lawyer

🔲 Navy Mutual, for safekeeping 🔲


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Spouse Checklist ✅

✅ Each spouse should have a general understanding of the family’s assets and investments; this includes knowing where the money is and why it is there.

✅ Each spouse should know where all important papers are kept and how to gain access. For example:

🔲 All bank accounts - who is the joint owner?

🔲 Investments - stocks, bonds, mutual funds, CDs, etc.

🔲 Deeds

🔲 Insurance Policies - life, medical, dental, long-term care, property/casualty, etc.

✅ Each spouse should know what the household bills are and how to gain access to the accounts.

✅ Each spouse should know the other’s wishes in case of death (e.g., burial or cremation and where they’d like to be laid to rest) or injury. Define quality of life and life support issues. Talk about organ donation. Put all of this into writing, creating a document like a living will, advanced medical directive, or durable power of attorney.

✅ Each spouse should have a will. (Legal Assistance Office will do this for free.)

✅ Keep one folder with original copies of the following forms:

🔲 Marriage Certificate 🔲 Birth Certificates

🔲 Wills and Trusts 🔲 Copy of Pay Entry Base Date

🔲 Advanced Medical Directives 🔲 Durable Power of Attorney

🔲 Social Security Papers 🔲 DD Form 214 Member-4 or Service-2 (if separated)

✅ Keep another folder with copies of the above forms; give it to someone for safekeeping (e.g., the Navy Mutual vault).

✅ The following names and addresses should be kept current and accessible to both spouses: financial planner, CPA, attorney, medical professionals, religious leaders, funeral director, family members, and close friends.

✅ Each spouse should know where records of current and previous investments and returns are kept.

✅ All medical and dental records should be kept updated and each spouse should know where the records are kept and know how to access them.


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Personal Notes

🔲 I am attaching additional information.


Questions? Navy Mutual is here to help. Any number of life events can substantially alter your family's financial security. Ultimately, life insurance provides you with peace of mind to combat that worry, and our mission is to help you achieve that.

For over 140 years, Navy Mutual has been providing affordable life insurance for active duty and retired military servicemembers with promptness and care. We're here when you and your loved ones need us most. We're with you for life.

Navy Mutual Aid Association Copyright © 2020 All rights reserved.

We're here to help.

📱 800-628-6011

📨 [email protected]

🖥 NavyMutual.org

Contact Us:

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Corporate Mailing Address:

29 Carpenter RdArlington, VA 22204

Rev. 2 August 2020

estate planning: personal log · estate planning: personal log. provided by navy mutual ....

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