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What To Bring To The Initial Consultation?

The following is information needed to advise clients as to Estate Planning and Medicaid Planning. The advice given will be based on what information is provided. The more complete the information, the better the advice. Bring the following information and supporting documents:

  1. Real Estate:
    • Residence
    • Vacation Home
    • Rental Property
    • Vacant Land
    Legal description; how titled; estimated market value; estimated balance of any mortgage; actual value listed on real estate tax notice.

    Bring copy of Warranty Deed or Quit Claim Deed showing purchase (not Deed of Trust), and copy of most recent real estate tax notice.

  2. Bank Accounts:
    Name of bank; type of account; account name and number; how titled; current (or average) balance; POD or beneficiary designation (first and second), if any.

    Bring copy of most recent statement.

  3. Investments/Securities (NOT held in retirement account):
    • Stocks and Bonds
    • Mutual Funds
    • Investment Accounts
    • Annuities
    • Other
    For individual Securities List name of security; number of shares; current value; how titled.

    Bring copy of certificates or other documentation.

    If securities are held in an investment account, list name of investment company; account number; how titled; current value of account; POD or beneficiary designation (first and second), if any.

    Bring copy of most recent statement.

  4. Retirement Accounts:
    • IRA
    • 401(k), etc.
    • Other Company Plans
    List name of company; account number; type of account/plan; current value of account; beneficiary designation (first and second).

    Bring copy of most recent statement.

  5. Life Insurance:
    List name of company; policy number; face value; cash surrender value; death benefit; beneficiary designation (first and second); amount of annual premiums, if any. Is policy whole life, term or group?

    Bring copy of policy, and any correspondence regarding value or beneficiary designation (first and second).

  6. Interest in a Business:
    List each owner and their percentage ownership, the current value of the business, the form of entity (partnership, corporation, limited liability company, etc.), any buy-sell agreements, any life insurance policies, etc.

    Bring copies of all such documents.

  7. Tangible Personal Property: value, descriptions, evidence of ownership, title information, etc.
    • Automobiles
      List year, make, model, value, loan value, how titled.

      Bring copy of title or registration.

    • Collectibles
      List items by category (such as Jewelry, Coins, Antiques, Art, Guns, etc.) and owner. Value of all categories for each owner.
    • Animals (Pets, Livestock, etc.)
      List description; owner; evidence of ownership; value; and any provisions for their care if owner dies or becomes incapacitated.

  8. Miscellaneous: Client should bring information on any other assets that they own or may own in the future, such as:
    • Potential Inheritance - List estimated amount and from whom.
    • Interest in a Trust - List who set up the Trust; what is your interest, current or future; current value of Trust and your interest.
      Bring copy of Trust.
    • Other Assets

  9. Income or other Regular Receipts (for Medicaid Planning only): Client should bring information on all income, or other regular payments that they receive from assets listed above whether monthly, quarterly, or yearly, such as:
    • Social Security
    • Retirement Benefits
    • Annuity Payments
    • Interest and dividends on investments
    • Other regular payments

What Happens at the initial consultation?