Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company1 Ability to understand client is most important skill of estate or financial planner A data gathering system improves efficiency and effectiveness of data gathering process Modify process to suit client situation Data Gathering

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company2 Pre-Meeting Information Request Letter Data Gathering Forms –Family Information –Advisor Information –Document Checklist –Alternative Form Community Property Residents Annual Review Checklist Safe Deposit Box Checklist Forms

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company3 Pre-Meeting Information Request Letter: Reiterate “when and where” of the first meeting Client to answer non-threatening informational questionnaire Client to complete as much data gathering as possible and mail to planner prior to meeting Stress information will be kept confidential

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company4 Data Gathering Forms Client and Spouse Information: –Names, including any nicknames –Home address –Home phone number –Birthdays –Social security numbers –Business address and phone for client

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company5 Data Gathering Forms Family Information: –Include children, their spouses, and grandchildren’s: Names Addresses Phone numbers Birthdays –Request personal information for other dependents that client is supporting, such as elderly parents or incapacitated siblings, nieces or nephews –Collect information about charities that client is supporting

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company6 Create a Family Tree Grandpa Deceased Grandpa Age 65 Grandma Age 62 Grandma Age 91 Client Age 60 Spouse Age 40 Child 1 Age 36 Child 2 Age 33 Child 3 Age 11 Spouse’s Sister Client’s Sister Client’s Brother Spouse Age 34 Grandchild 1 Age 5 Grandchild 2 Age 3

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company7 Data Gathering Forms Guardian Information: Name, address and phone number –Guardian of the person –Guardian of the property –Alternate Guardians Executor Information: Name, address and phone number –Co-Executor –Alternate Executors

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company8 Data Gathering Forms Advisor Information: Name, firm, address, and phone number –Accountant –Attorney Personal Business –Banker/Trust Officer –Insurance Advisor –Investment Advisor/Broker

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company9 Data Gathering Forms Document Checklist – Personal –Have client send this information prior to the meeting or bring it with them: Personal financial statement Loan agreements (mortgage, home equity line) Consumer debt information (auto loans, student loans, credit cards, lines of credit) Bank checking and savings statements Investment statements (brokerage, mutual funds, IRA’s) Most recent profit sharing, 401(k), pension plan statements (including beneficiary designations)

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company10 Data Gathering Forms Document Checklist – Personal –Have client send this information prior to the meeting or bring it with them: Present wills Personal federal and state income tax returns (last 3 years) Business tax returns (last 3 years, include P&L and balance sheets) Life/health/disability insurance policies Employee benefit plan descriptions Business buy-sell agreements and employment contracts Pre or post-nuptual agreements Divorce decrees/property settlements

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company11 Document Checklist – Personal –Have client send this information prior to the meeting or bring it with them: Trust documents Gift tax returns Homeowner’s policy and personal property floaters Deeds to real estate Other relevant documents Data Gathering Forms

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company12 Data Gathering Forms Document Checklist – Corporate –Financial statements, 2 years –Tax returns, 2 years –Stockholder agreements –Buy/Sell agreements (including funding information) –Corporate loan agreements –Corporate investment statements –Corporate foundation or charitable donation information

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company13 Data Gathering Forms Document Checklist – Corporate –Executive benefit agreements (Deferred compensation, stock options, restricted stock, split dollar arrangements, etc.) –Employee benefit plan books –Profit sharing, 401(k), pension booklets, most recent statements, and trustee information –Corporate owned life insurance and most recent statements –Corporate owned disability insurance policies and most recent statements –Group health program information and employee census

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company14 Annual Review Checklist The following information should be reviewed and updated annually : –Specific bequests –Changes in valuations –Special provisions for children –Newly born or adopted children –Handicapped or incompetent children –Status of family marriages –Cancellation of loans to children and equalization of inheritance

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company15 Annual Review Checklist The following information should be reviewed and updated annually : –Life insurance –Gifts to minors –Gifts to charities –Business interests –Guardian, executors and trustees

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company16 Safe Deposit Box Checklist The following information or materials should be kept in a safe deposit box : –Birth certificates –Marriage certificates (including documentation from prior marriages or divorces) –Wills –Trust agreements –List of life insurance policies or certificates –Social security numbers

Chapter Title Chapter # Tools & Techniques of Estate Planning Data Gathering and Analysis Chapter 2 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company17 Safe Deposit Box Checklist Military discharge papers Bonds, stocks, and other securities Real estate deeds and insurance policies Business buy/sell agreements Auto titles and insurance policies Property insurance policies Copy of financial plan (including family, executor, guardian and advisor information )