Subj: Trust Info€¦ · Web viewTrusts are useful if there are minor children or real estate as a part of your estate and you want to help those left behind avoid probate. BUT,

8855 Dunn Road, Hazelwood, Mo 63042www.unitedpentecostalfoundation.com

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Going Forward - Estate Planning for Your Family -

Three Documents We All Need

Dear Friend:

We all need to have a Durable Power of Attorney, an Advance Health Care Directive (Durable Power for Health) and a Will. If you are a single person that means there are three documents you need. If you are married, that means there are six documents you and your spouse need. Trusts are useful if there are minor children or real estate as a part of your estate and you want to help those left behind avoid probate. BUT, EVERYONE, even if they have not decided to get a trust just yet, needs those first three documents to be signed, dated, notarized or witnessed (by two independent [not named beneficiaries or executors] people in the case of a Will).

1. Durable Power of Attorney (General):This is a separate document for each spouse so that in the event of the incapacity of one spouse, the other spouse (or, if not married, another named individual) can have authority to deal with property that for some reason may not be owned by the trust.

2. Advance Directive for Health Care & Durable Power of Attorney:This is a separate document for each spouse so that in the event of the incapacity of one spouse, the other spouse (or, if not married, another named individual) or other alternate agents can have authority to make health care decisions including that "pull the plug" decision where someone is being kept alive only by artificial means.

3. Will:This is a separate document for each spouse (just one document if you are not married) which revokes any previous will you might have made, names guardians for your minor children (if you have any), and makes your entire estate plan cohesive. You may simply indicate that you are leaving your property to your children or to others.

We want to make this easy for you to get your three documents done. Give me the information on this form. If you receive this form by email you can email it back to us. With this information we can prepare a letter of recommendation for you to take to an attorney to complete your documents.

Sincerely,

Stephen M. DruryPresident

3 DOCUMENT PACKAGE – PAGE 1

*********************************************************3 Common Considerations

FOR CHARITABLECONTRIBUTIONS

United Pentecostal Church International


Divisions & Departments:

Church Division Division of Education

Foreign Missions Division

Home Missions Division

Ladies Ministries

Media Missions

Pentecostal Publishing House

Stewardship Department

Sunday School Division

United Pentecostal Foundation

Word Aflame

World Network of Prayer

Youth Division

Endorsed Ministries:

Apostolic Bible Institute Centro Teologico Ministerial

Christian Life College

(314) 837-7300 UNITED PENTECOSTAL fax (314) 336-1830

FOUNDATION 8855 Dunn Road, Hazelwood, MO 63042

Email [email protected]

CONFIDENTIAL ESTATE PLANNING ON LINE INFORMATION FORMFOR PREPARATION OF WILL OR LIVING TRUST, DURABLE POWER OF ATTORNEY

& ADVANCE HEALTH CARE DIRECTIVE

Married Couple Have child or children Blended Family

Single Person No children Formerly Married

1. PERSONAL INFORMATIONLast Name: Email Address:

Street Address:

City: County: State: Zip: If single then show how your name should be in documents: Date of Birth: _______________

If married then show husband’s full name as it is to be listed: Date of Birth: _______________

If married then show wife’s full name as it is to be listed: Date of Birth: _______________

Home # ( ) Cell # ( )

Business Tel. # ( ) Fax Tel. # ( )

2. FAMILY INFORMATIONCurrent name of each child: Date of birth Child of “H” husband;

“W” wife; “B” both


INSTRUCTIONS:

3. NOMINATION OF EXECUTOR FOR YOUR WILLNote: Unless given other instructions, if you are married, your surviving spouse will be your first Executor in

your will. The following nominations are for when both spouses are either deceased or incapacitated.FIRST

CHOICE We are married and we both choose

our spouse as first ExecutorALTERNATE

CHOICESSINGLE PERSON’S NOMINATIONS FOR EXECUTOR OF WILL

NAME CITY/STATE RELATIONSHIP TO YOUFIRST

NOMINEESECOND

NOMINEEHUSBAND’S ALTERNATE NOMINATIONS FOR EXECUTOR IN WILL


NOMINEESECOND

NOMINEEWIFE’S ALTERNATE NOMINATIONS FOR EXECUTOR IN WILL


NOMINEESECOND

NOMINEE

4. NOMINATION OF GUARDIAN FOR MINOR CHILDRENNote: The Guardian of the Person is the individual who will have physical possession of and who will raise your minor child. The Guardian of the Estate will be the person who will take care of the property of your child if your child is a minor. If you are divorced, of course, an actual surviving parent of your minor child has priority over any

nomination you make for Guardian of the Person. You may nominate another for Guardian of the Estate. NAME CITY/STATE RELATIONSHIP TO CHILD

1st NomGDN OF PersonALTERNATE

GDN OF Person1st Nom

GDN OF EstateALTERNATEGDN OF Estate

Other Instructions:


5. NOMINATION OF TRUSTEE TO TAKE CARE OF FUNDS FOR MINOR Note: If you die, and a minor is a beneficiary of your will, then after a probate is finished, the funds are will not be

turned over to the minor beneficiary. The law does not allow a minor to receive these funds. Instead a separate petition must be filed in court and someone will be appointed (usually your nominated Guardian) as the Guardian of the Estate of a minor person to provide healthcare, education, welfare and benefits.. Sometimes to avoid conflict of interest it is

best to choose a trustee other than Guardian of the Minor, which could be a trust department at a bank.

When the minor beneficiary reaches age 18, the funds and all accumulated interest will then be turned over to the beneficiary. In most cases this is not a good idea. If, instead of having a guardian of an estate (with significant court

involvement) you would like funds to be held by a Trustee until the beneficiary reaches some later age (usually 25) then you need to nominate a Trustee.


TRUSTEE/ Bank

ALTERNATETRUSTEE/

Bank Final

Distribution Age for Distribution: 21; 25Special

Instructions

6. NOMINATION OF AGENT IN DURABLE POWER OF ATTORNEYNote: Unless given other instructions, if you are married, your spouse will be your first agent in your Durable Power

of Attorney. The following nominations are for when both spouses are either deceased or incapacitated.This choice many times is the same persons you have picked in #3 above to be the Trustee.

FIRSTCHOICE

We are married and we both choose our spouse as first Agent

ALTERNATECHOICES

For Alternates: Use Same Nominations as are set forth in #3 above.

SINGLE PERSON’S NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT)


NOMINEESECOND

NOMINEEHUSBAND’S ALTERNATE NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT)


NOMINEESECOND

NOMINEEWIFE’S ALTERNATE NOMINATIONS FOR AGENT (ATTORNEY-IN-FACT)


NOMINEESECOND

NOMINEE


7. NOMINATION OF AGENT IN ADVANCE HEALTH CARE DIRECTIVENote: This is the form where you indicate that you do not wish to be kept alive artificially if the only result will be an artificial delay in the moment of your death under certain circumstances. Unless given other instructions, if you are

married, your surviving spouse will be your first agent to make health care decisions. If married, the following nominations are for when the spouse is deceased or incapacitated. If single you may choose your agents.

FIRSTCHOICE

We are married and we both choose our spouse as first agent to make health

care decisisons

ALTERNATE CHOICE

For Alternates: Use Same Nominations as are set forth in #3

above.SINGLE PERSON’S NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE


NOMINEESECOND

NOMINEEHUSBAND’S ALTERNATE NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE


NOMINEESECOND

NOMINEEWIFE’S ALTERNATE NOMINATIONS FOR AGENT IN ADVANCE HEALTH CARE DIRECTIVE


NOMINEESECOND

NOMINEE

8. SPECIFIC DISTRIBUTIONS TO INDIVIDUALS OR MINISTIRESNote: Usually people have certain things or certain dollar amounts of the estate that they wish to leave to special people or organizations. You may set forth these special distributions and then the bulk of the estate will be distributed as set forth in Section 9 below. Unless otherwise stated, and if you are married, these gifts will be made only at the death of

the Surviving Spouse.SPECIFIC GIFTS OF SPECIFIC ITEMS (GIFT IN KIND) TO INDIVIDUALS OR MINISTRIES*Items such as coins, baseball cards, collections, antiques, heirlooms, tools, etc...*

Name of Individual/Ministry Relationship to You Description of Item If the beneficiary dies before

you do where does gift go?

SPECIFIC GIFTS OF DOLLAR AMOUNTS TO INDIVIDUALS OR MINISTREIS

Name of Individual/Ministry Relationship to You Dollar Amount If the beneficiary dies before

you do where does gift go?


SPECIFIC CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS OR MINISTRIESNote: Common considerations for Ministries listed on page 2.

Name of Organization Address Dollar Amount of Estate Any specific designated use?

9. GIFTS OF PERCENTAGESNote: After any special distributions above then the remainder will be distributed to your indicated remainder beneficiaries. Unless otherwise stated, and if you are married, these gifts will be made only at the death of the

Surviving Spouse.A. [Simple Will] IF YOU HAVE CHILDREN AND ALL ARE ADULTS, MATURE ENOUGH TO

HANDLE THEIR SHARE I leave the remainder of my estate in equal shares to my children. [Simple Will] I leave the remainder of my estate not in equal shares to my children but in the following percentages and to the

following beneficiaries/Ministries:

NOTE: COMMONON CONSIDERATIONS FOR MINISTEIS LISTED ON PAGE 2

Percentage Name of Beneficiary And if that Beneficiary predecease then the share shall be distributed as follows:

Other instructions or concerns:B. [Complex Will] IF YOU HAVE CHILDREN BUT SOME OR ALL ARE NOT MATURE ENOUGH TO HANDLE THEIR SHARE Note: During any period of time when a Trustee is taking care of the property which is being held for a beneficiary, the Trustee may make distributions for health, education (Trustee makes distribution for college expenses), maintenance, and support as determined in the sole and absolute discretion of the Trustee. Trustee then can take care of wedding expenses, assisting with a down-payment on a home, obtaining reasonable transportation, etc.

I leave the remainder of my estate in equal shares to my children but a child shall receive principal as follows:1/3 of remainder at earlier date of when the youngest child either graduates from college or reaches the age of 25, then ½ of remainder when child reaches age 27; then all of remainder when child reaches the age of 30.

I want to design my own distribution scheme as follows:

I leave the remainder of my estate not in equal shares to my children but in the following percentages and to the following beneficiaries/Ministries:

NOTE: COMMONON CONSIDERATIONS FOR MINISTEIS LISTED ON PAGE 2


Percentage Name of Beneficiary And if that Beneficiary predecease then the share shall be distributed as follows:

Other instructions or concerns:

C. IF YOU DO NOT HAVE SURVIVING CHILDREN OR IF ALL CHILDREN AND GRANDCHILDREN PREDECEASE YOU WHAT IS YOUR ALTERNATE DISTRIBUTION INSTRUCTIONS:

Name of Individual/Ministry Relationship to You

Dollar Amount or Percentage of Remainder

of Estate

If the beneficiary dies before you do and any other

instructions…

10. INVENTORY OF PROPERTY INCLUDED IN YOUR ESTATENote: When you are making a listing of your property, it is important that you clearly convey to your planners how your property is held. The five basic types of property ownership are:

1) Individual ownership2) Tenants in common3) Joint tenants with rights of survivorship4) Tenants by the entirety5) Community property

The success or failure of tax planning and the final distribution of your estate are often dependent upon the coordination of property ownership with legal instruments in effect.

REAL ESTATE – List each parcel by address

Owned Jointly, Husband or Wife?

Fair Market Value (approx) Equity (approx)

LIFE INSURANCE – List each policy by name of company

Payable on life of Husband or Wife?

Any loans against? If Yes

how much?Face amount to be paid (approx)


RETIREMENT PLANS – List each by name of administrator Husband’s or Wife’s 401K, Keogh,

IRA, TSA ? Total current value (approx)

INVESTMENT ACCOUNTS – List each by Broker Husband’s or Wife’s Type of Account Total current value (approx)

OTHER BANK ACCOUNTS – List each by bank Husband’s or Wife’s Type of Account Total current value (approx)

OTHER MAJOR ASSETS – value greater than $10,000.00 Husband’s or Wife’s Type of Asset Total current value (approx)

TOTAL ASSETT VALUE (APPROX)

11. LIABILITIES

Owed on What Property? Amount

Current Bills $

Bank Loans $

Notes Payable $

$

$

$

$

Total $

10. INVENTORY OF PROPERTY INCLUDED IN YOUR ESTATENote: When you are making a listing of your property, it is important that you clearly convey to your planners

how your property is


12. FUTURE INHERITANCE

From Whom? Age Amount

HUSBAND $

WIFE $held. The five basic types of property ownership are:

1) Individual ownership2) Tenants in common

3) Joint tenants with rights of survivorship4) Tenants by the entirety

5) Community property

The success or failure of tax planning and the final distribution of your estate are often dependent upon the coordination of property ownership with legal instruments in effect.

