Live in Oregon? This article covers the Oregon version of this page.
This part of the questionnaire asks which estate planning documents you already have. It also asks a few background questions about gifts, marriages, and trusts.
Your answers give your attorney a starting point, so a new plan can build on what you have. You are not being asked whether your documents are good or up to date. Answer based on what you know now.
If you are weighing a Will against a Revocable Trust, this article explains the difference.
Why these questions matter
Older documents can still be in effect. Knowing what exists helps your attorney see what may need to be updated, replaced, or coordinated, so that new documents work with any you keep.
Documents you already have
Check each document you believe you have, even if it is old or you are not sure it is still current. If you are completing the questionnaire with a spouse or partner, each of you has your own column. If you are not sure whether something counts, check it.
The documents listed are:
- Will: Says who receives your property at death and who settles your estate.
- Revocable Trust: Holds your property during your life and says who receives it after your death, usually without probate.
- Financial Power of Attorney: Names someone to handle your money and property if you cannot.
- Health Care Power of Attorney: Names someone to make medical decisions for you if you cannot.
- Health Care Directive: Records your wishes about life support and end-of-life care.
- Irrevocable Trust for the Benefit of Another Person: A trust you set up for someone else, such as a child or grandchild. It generally cannot be changed.
If you have both a Will and a revocable trust
Many people with a revocable trust also have a Will, often called a pour-over will. It moves anything left outside the trust into the trust at death.
If you have both, check Revocable Trust. Your attorney can review both documents with you.
Additional details about your current plan
The rest of the page asks a few background questions. Answering Yes does not mean there is a problem. It gives your attorney context.
Large gifts and gift tax returns
The question reads: Have you ever made large gifts or filed a federal gift tax return?
Large gifts made during your life can affect estate and tax planning. A gift above the yearly limit may have needed a federal gift tax return, IRS Form 709, even if no tax was owed.
If you are not sure, check your tax records or ask whoever prepares your taxes. Otherwise, answer from memory. If you are completing the questionnaire together and answer Yes, you then choose which of you made the gifts.
Prenuptial, postnuptial, or community property agreements
Married couples see: Have you entered into a Prenuptial Agreement, Postnuptial Agreement or Community Property Agreement together?
These agreements can change how property is owned and who receives it at death.
A community property agreement can leave a couple’s property to whichever spouse survives.
Other states may use different names, such as a premarital agreement or a marital property agreement. If you and your spouse signed any agreement about your property, answer Yes, even if it was years ago.
Prior marriages
The question reads: Have you been previously married? Couples see Have either of you been previously married? and then choose which of you.
A prior marriage can bring children from that relationship, ongoing obligations, or agreements that still affect property.
Support or other obligations to a former spouse or partner
The question reads: Are you subject to any child support or other financial obligations to a former spouse or relationship?
Some obligations continue after death and may need planning, for example through life insurance.
If you answer Yes, make a note of the amount. You enter it yourself when you reach the Liabilities page.
Being the beneficiary of someone else’s trust
The question reads: Are you the beneficiary of a trust created by someone else?
A trust already in effect can affect your income, your taxes, and how a new plan should be coordinated.
If a relative plans to leave you something through their trust in the future, answer No here. List it instead as a potential inheritance on the asset pages.
If you are widowed, the question asks whether you are the beneficiary of a trust from your late spouse’s estate plan. If you answer Yes, it also asks: Are you also the Trustee of that trust?