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206 S. Tennessee St., McKinney, TX 75069
P.O. Box 387, McKinney, TX 75070

What information is needed to do estate planning?

Before an estate planning package can be completed, you must provide the following information:

1. Decide on the ultimate distribution after both deaths including:

  • The portion of the estate to be given to each child or other person; and
  • As to each child's share, the number of installments, ages for distribution, and percentage of the total to be distributed at each installment.

2. Provide formal names (as you want them to appear in the documents) for you, your children or other heirs, and your various personal representatives.

3. Confirm several alternative individuals, in your order of preference, for each of the following roles:

  • Executor (the person that probates your will and finalizes your affairs);
  • Trustee (the person that will manage your property long term after your death -- a corporate Trustee may be your final option);
  • Power of Attorney for your financial affairs;
  • Power of Attorney for health care decisions; and
  • Guardian for minor children.

4. Request change of Beneficiary forms on each life insurance policy and Retirement or Employee benefit account immediately, so that we will have them if we need them.

5. For each asset that is to go into a Living Trust or Family Limited Partnership, if applicable, provide me with copies of current deeds, titles, bonds, stock certificates, account statements and other evidence of assets that are titled or in the hands of third parties.

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