Your Effective Estate Planning Consultation

Your Effective Estate Planning Consultation
This Estate Planning Review Workbook is designed to help you and your Estate Planning Consultant to methodically investigate your individual requirements and circumstances. We do this in order to ensure that your current Will, or Estate Plan, is providing the level of clarity, protection and certainty you require for the inheritance of those you care for most.

Parts of this workbook contain images and diagrams that will be explained by your Estate Planning Consultant during your meeting.

Contents & Process
- About your Estate Planning Consultant
- About the review process
- All about you
- Your assets
- Who you want to inherit what and when
- If Inheritance Tax needs to be considered
- Your attitude towards common eventualities that could impact on your wishes
- Those you trust to oversee your wishes
- The burden placed on your trusted people
- Review of your current Will / Estate Planning
- Options, if required

Your Estate Planning Consultant
Your Estate Planning Consultant is registered with the Legal Services Guild, an organisation whose Foundation Partners include a pre-eminent Barristers’ Chambers, and which has a national membership of professionals, all of whom are committed to the Guild’s Code of Conduct and levels of customer care and protection.

They will have successfully completed the Legal Services Guild’s Estate Planning Accreditation Programme and are fully insured to discuss a customer’s Estate Planning needs.

Their obligations to you

Your Estate Planning Consultant will follow a prescribed process created by the Legal Services Guild; designed to ensure you are able to consider all current circumstances and common eventualities that could impact on your inheritance wishes.

They will also make sure you are aware of all your options to enable you to make your own informed decision about what level of Estate Planning you require. This is based upon the level of protection and certainty you wish to achieve for the inheritance of the ones you care for most.
About the review process
Planning

Your Consultant will collect all relevant information in relation to your personal circumstances and assets, so that they can be considered along with your wishes on how you want your estate to be distributed to the ones you care for.

Protection

They will identify and help you to consider common eventualities in life that could impact or compromise your inheritance wishes.

Certainty

They will ensure that you are aware of all of the options available, so that you can decide for yourself the level of certainty you require that your wishes will be respected, and your heir’s inheritance is protected.

All About You
Your personal circumstances need to be considered, because they may influence your Estate Planning wishes, will contribute to the validity of your planning, and will have a bearing on how your beneficiaries receive their inheritance.
- Apart from basic information we will need to consider:
- Your current health
- Whether you have any dependents
- If you are responsible for any vulnerable adults
- If you are married or about to get married
- If you have previously been divorced
- If you have recently gifted any assets to anyone
- If you are going to receive an inheritance
- If there is anyone you are estranged from
Single or Joint Questionnaire

SingleJoint
Have you been widowed?
What is your relationship?
Customer 1 Name

First NameLast Name
Date of Birth

DayMonthYear
Date
Address

Street Address

Street Address Line 2

CityCounty

Postcode
Phone Number

Area CodePhone Number
Email
example@example.com
What is your employment status?
How would you describe your health?
Are you able to read and sign unaided?

YesNo

Customer 2 Name

First NameLast Name

Dependents
Do you have any dependents?
Dependents are children under the age of 18 or vulnerable adults

Properties

Residence elected to receive Residential Nil Rate Band - TIC should be listed in the 2 rows
Address
Asset of
Value
Mortgage
Net Value

Other UK Property
Address
Asset of
Value
Mortgage
Net Value
Address
Asset of
Value
Mortgage
Net Value
Address
Asset of
Value
Mortgage
Net Value

Foreign Property
Address
Asset of
Value
Mortgage
Net Value

Savings

Savings

	Joint	Customer 1	Customer 2
Bank & Societies
ISA's
Bonds
Other

Shares & Investements

	Joint	Customer 1	Customer 2
Unit Trusts
Public Company Shares
Private Company Shares
Other

Life Insurance

	Joint	Customer 1	Customer 2	Death Benefit Signed
1
2
3
4

Pensions

	Customer 1	Customer 2	Death Benefit Signed
1
2
3
4

Assets

	Joint	Customer 1	Customer 2
Vehicles
Assets to Inherit
Items of Value

Liabilities

	Joint	Customer 1	Customer 2
Secured Loans
Unsecured Loans
Credit Cards
Store Cards

Beneficiaries
Customer 1: If you were to die first, are all assets solely in your name to be left to the other customer on the first instance?

YesNo
Customer 2: If you were to die first, are all assets solely in your name to be left to the other customer on the first instance?

YesNo
Customer 1: Are you leaving assets to the same beneficiaries upon second death?

YesNo
Customer 2: Are you leaving assets to the same beneficiaries upon second death?

YesNo

Marriage & Re-marriage
Would you like to take measures to prevent this eventuality?

YesNo

Premature death of a Beneficiary and who should be next in line?
Would you like to take measures to prevent this eventuality?

YesNo

Divorce of a Beneficiary
Would you like to take measures to prevent this eventuality?

YesNo

A Beneficiary suffers financial hardship
Would you like to take measures to prevent this eventuality?

YesNo

Excluding someone
Would you like to take measures to prevent this eventuality?

YesNo

The impact inheritance has on State Benefits
Would you like to take measures to prevent this eventuality?

YesNo

The effect of Generational Inheritance Tax
Would you like to take measures to prevent this eventuality?

YesNo

Meeting Inheritance Tax liability
Current potential IHT liability
Future potential IHT liability
Liquid inheritance (cash)
Would you like to take measures to prevent this eventuality?

YesNo

Beneficiaries access to and the cost of Inheritance
Would you like to take measures to prevent this eventuality?

YesNo

Should you suffer a Loss of Capacity
Would you like to take measures to prevent this eventuality?

YesNo

Trusted People
Executor 1

First NameLast Name
Executor 2

First NameLast Name
Executor 3

First NameLast Name
Executor 4

First NameLast Name
Who would you trust to look after your financial affairs if you were unable to do so?
Executor 1

First NameLast Name
Executor 2

First NameLast Name
Executor 3

First NameLast Name
Executor 4

First NameLast Name
Who would you trust to make decisions about your healthcare if you were unable to do so?
Executor 1

First NameLast Name
Executor 2

First NameLast Name
Executor 3

First NameLast Name
Executor 4

First NameLast Name
Events that may require funds
Do you have a funeral plan?

YesNo
Estimated funeral costs
Potential costs of probate
Do you have LPA's?

YesNo
Potential costs for a loss of capacity
Total potential costs
Funds for trusted people

Have the following Items been completed?
Protection against the marriage or re-marriage of a spouse

YesNo
Should be Empty:

Your Effective Estate Planning Consultation

Your Estate Planning Consultant

About the review process

All About You

Dependents

Properties

Savings

Beneficiaries

Marriage & Re-marriage

Premature death of a Beneficiary and who should be next in line?

Divorce of a Beneficiary

A Beneficiary suffers financial hardship

Excluding someone

The impact inheritance has on State Benefits

The effect of Generational Inheritance Tax

Meeting Inheritance Tax liability

Beneficiaries access to and the cost of Inheritance

Should you suffer a Loss of Capacity

Trusted People

Events that may require funds

Have the following Items been completed?