Estate Planning Worksheet for Married People?

Get Started

The Estate Planning Worksheet for Married People is designed as a worksheet to lead you through the thought process that is required to prepare a will. This worksheet can be used for both large and small estates. The estimated value of your assets, minus the estimated value of your liabilities is critical information in planning your estate. A high value -- more than $3,500,000 (the concern is that your estate will exceed the federal estate tax exemption limit) -- suggests that more complex estate planning techniques may be required to minimize federal estate taxes. If your estates are expected to be larger than the applicable exclusion amount at the time of the death of the second spouse, you can use this worksheet to prepare for a conference with an estate planning lawyer who will ask for the type of information developed through your use of the Estate Planning Worksheet.

The Estate Planning Worksheet for Married People begins by requesting personal information about your and your family. Next, you are led through an estimation of the value of the estates of you and your spouse. The third step helps you sort through your priorities as to what persons or entities (beneficiaries) should receive distributions from your estates. If you have minor children, an optional section is available to work through questions that help you provide for them. Finally, the worksheet provides some basic information regarding advanced estate planning techniques that might be discussed with a lawyer in connection with planning for unique or complex estates.