This review list is intended to educate you about the content of this document and to aid you in its preparation. You should complete a personal information form for each family member and, if feasible, add any accompanying documentation. This project should be undertaken as a first draft; it should then be expanded upon at a later date to keep the effort reasonable. With the mindset that any knowledge is better than none, begin to work on this immediately, at the very least as a first step toward resolving the issue.
- Create a duplicate. It should be updated once a year on a well-known anniversary day (e.g., birthday; January 1).
- Keep a copy with the details about your will/estate plan. If you have a spouse, provide a copy to him or her.
Personal Information Form For Trust Preparation
Personal Information Form for Trust Preparation
Dated: __________________
Banking accounts:
Certificates of deposit:
Stock Brokers:
Stocks not held by brokers:
Parcels of real estate owned:
Mortgages/liens against the real estate:
C.P.A/Tax preparer:
Powers of attorney given to:
Debts owed me:
Litigation in which I am a party:
Attorney handling such litigation:
Burial plot and information regarding pre-paid burial plans:
Safe deposit boxes:
Life insurance policies:
Annuities:
Partnership interests:
Debts which I owe:
Persons jointly responsible for these debts, if any:
Location of other valuables:
Location of will/living trust:
Location of other important documents:
Special instructions:Copies of the foregoing have been added to this file as exhibits.
Personal Information Form for Trust Preparation
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. You should fill out a personal information form for each member of your family and, if possible, include the related documents. This project should be undertaken as a first draft; followed up upon at a later point so the task is not too daunting. With the idea that any information provided is better than none, get to work on this promptly, at least as a first cut to the problem.
1. Make a copy. Update it once a year on a known anniversary date (e.g., birthday; January 1).
2. Keep a copy with your will/estate plan information. Give a copy to your spouse, if you have one.
Frequently Asked Questions
What is a personal information form for trust preparation?
A personal information form for trust preparation is a document that gathers details about your assets, liabilities, and other personal information. It includes items such as banking accounts, real estate, life insurance policies, and debts. This form helps your attorney prepare a trust that accurately reflects your financial situation.
Why do I need to fill out a personal information form for trust preparation?
Filling out this form ensures that your trust is properly drafted to include all your assets and address any liabilities. It provides your attorney with a comprehensive overview of your financial and personal affairs. This helps avoid omissions that could complicate the trust administration.
What information should I include on a personal information form for trust preparation?
You should list all banking accounts, certificates of deposit, stock brokers, stocks not held by brokers, parcels of real estate, mortgages or liens, and debts owed to you. Also include your CPA or tax preparer, powers of attorney, litigation details, burial plot information, safe deposit boxes, life insurance policies, annuities, partnership interests, and debts you owe. Additionally, note the location of your will, living trust, other important documents, and any special instructions.
How often should I update my personal information form for trust preparation?
The article suggests undertaking this project as a first draft and following up at a later point so the task is not too daunting. It does not specify a set frequency for updates. However, it is prudent to review and update the form whenever your financial or personal circumstances change.
Should I fill out a separate personal information form for each family member?
Yes, the article states that you should fill out a personal information form for each member of your family. If possible, include the related documents for each person. This ensures that each individual's assets and information are properly documented for trust preparation.
What documents should I attach to my personal information form for trust preparation?
The article mentions that copies of the foregoing have been added to this file as exhibits. This implies attaching documents related to the listed items, such as bank statements, deeds, insurance policies, and other relevant records. Including these documents provides a complete picture for your attorney.
What should I do if I don't have all the information requested on the form?
The article advises undertaking this project as a first draft and following up at a later point so the task is not too daunting. You can start with what you have and fill in missing details later. The important thing is to begin the process and complete it over time.
Who should I give the completed personal information form to?
The form is for trust preparation, so you should provide it to the attorney who is preparing your trust. The article mentions an attorney handling litigation and a CPA/tax preparer, indicating that professionals may be involved. Your attorney will use the form to draft your trust accurately.
What is the review list mentioned in the personal information form for trust preparation?
The review list is provided to inform you about the document and assist in its preparation. It reminds you to fill out a form for each family member and include related documents. It also suggests treating the project as a first draft and following up later.
Can I use the personal information form for trust preparation for other purposes?
The form is specifically designed for trust preparation, as indicated by its title and content. While the information could be useful for other estate planning purposes, the article does not mention other uses. It is best to consult with your attorney about any additional applications.
