Estate Planning Worksheets

Video Transcript

"This is financial adviser Patrick Munro, talking about estate planning worksheets. In order to put together a good estate plan, it's important to have the appropriate worksheets and interviewing tools that a financial planner uses to draw out the information required to put together an effective estate plan. This fact finder that I work with a lot of my clients, we cover on what their holdings are. Bank accounts, mutual funds, statements, annuity holdings, real estate holdings in their principle residence as well as other real estate. That forms their estate. Then, we have to see if they have the appropriate documents to protect that estate. That is to say a will, a living trust, a durable power of attorney if it's a married couple so that they can do for each other in matters of financial affairs. And, also a power of attorney for health. It's very key that individuals have an umbrella liability policy as well to protect in case of litigation. Because, litigation and a possibility thereof is an important threat to consider if you have a lot to lose. In other words, if you have a large estate. It's important to have the appropriate worksheets to put together an appropriate estate plan. This is financial adviser Patrick Munro."