Wyoming Estate Planning Questionnaire

State:
Multi-State
Control #:
US-Q1014
Format:
Word; 
Rich Text
Instant download

Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in an estate planning matter, such as wills, trusts, healthcare documents, deeds, and more. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorneys case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new clients needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

Wills, Trusts & Estate. Planning Team. The attached Estate Planning Questionnaire is designed to help you organize your personal and financial information, to help us effectively assess your goals and circumstances, and to enable us to recommend an estate plan that will work for you and your family.

Estate planning in simple terms refers to the passing assets / investments down from one generation to another. You decide how much of your estate be it property(s), car(s), personal accolades, financial investments, etc. you want to pass on to whom and how, after your demise.

For maximum flexibility, a revocable trust is best because you can adjust it as many times as you like while you're alive. In general, irrevocable trusts are best for those who have extensive assets, since these trusts offer greater tax benefits and asset protection.

Options for asset protection include:Domestic asset protection trusts.Limited liability companies, or LLCs.Insurance, such as an umbrella policy or a malpractice policy.Alternate dispute resolution.Prenuptial agreements.Retirement plans such as a 401(k) or IRA.Homestead exemptions.Offshore trusts.

Here is an estate planning checklist of items every estate plan should include:Will/trust.Durable power of attorney.Beneficiary designations.Letter of intent.Healthcare power of attorney.Guardianship designations.

6 strategies to protect real estate assetsLandlord insurance. Landlord insurance provides coverage specifically for owners of rental property.Limited liability company.Real estate trust.Avoid risk.Strategically use debt.Homestead exemption.

Wyoming recognizes holographic (handwritten) wills so long as the document is entirely in the handwriting of the testator and signed by the hand of the testator himself. A Wyoming holographic will does not need to be witnessed.

A Family Trust. This may be one of the best strategies to protect your personal assets. A trust will help protect your assets when you lose all your money. A family trust can also provide tax benefits to family members in lower tax brackets.

Five of the Most Common Estate Planning Questions AnsweredWhat is the difference between a will and a trust? Wills and trusts have some similarities.What is Power of Attorney?Do I need to create a medical directive?When should I make updates to my estate plan?I'm worried my family will contest my will.

Wyoming does permit handwritten wills (Wyoming Statutes § 2-6-113, but they are usually not a good idea. To finalize your will in Wyoming: you must sign or acknowledge your will in front of two witnesses, and. your witnesses must sign your will.

More info

List individuals names here. Use the "+" sign to add as many rows as needed.FOR SPOUSE: Any property not listed on the memorandum should be distributed to:. Please enter a number from 1 to 100. Occupation/Employer. Business Address. Street Address Address Line ...A Civil Cover Sheet is required when filing any case in a circuit or district court. Please read the instructions carefully and complete the Cover Sheet ... How to File a Small Claims Action. Legal Disclaimer: The following is basic legal information, provided as a public service by Wyoming's lawyers. The ... Estate Planning Questionnaire · Phone · Email · What would you say are the most important considerations? · List your children's names and ages. If you have no ... Who should administer my estate when I die?Who will serve as guardian of my kids?How will taxes be handled, such as death taxes?How should title to ... specific, comprehensive, complete plan, drafted by Wyoming estateas well as answer any legal questions like funding advice or tax implications. A: Estate recovery helps the State of Wyoming generate funds to pay medical care costs, through the Medicaid program, for the increasing number of people in ... Theodore E. Hughes, ?David Klein · 2007 · ?BusinessWyoming Nonresident eligible, but must appoint resident agent to accept service ofQUESTIONNAIRE CONFIDENTIAL INFORMATION FOR ESTATE PLANNING 20 ? THE ... Lita Epstein · 2008 · ?Lawtax (GSTT ? see Chapter 10), this type of trust can be used to minimize that taxFor example, Wyoming allows you to establish a trust for 1,000 years, ...

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Wyoming Estate Planning Questionnaire