Complete Application / Living Trust Application / Partnership Application
Business Trust Application / Net Worth Worksheet

VERSION  4  ~  COMPLETE  PACKAGE

APPLICATION

(All current forms and worksheets are dated April 15, 2003)

All applications and worksheets are downloadable in either Adobe Acrobat (.pdf), Scan Soft Omni Form (.exe), or Zip (.zip) versions of the Acrobat Reader format. 

Note:  Only the "CompletePackageApplication4.pdf", "LivingTrustApplication4.pdf" and "NetworthWorksheet4.pdf" files are fully operational as a fill-in form in the Acrobat Reader format.

Note:  Every Omni Form format application and worksheet is a fully functional self extracting fill-in form that can be saved, printed and used over and over again.  They can even be sent via email to The Baldwin Trust Group to assemble the appropriate documents for your estate preservation and asset protection if you so desire.

Download "Complete Package Application":      PDF (3.33MB)  |  Omni Form (918KB)  |  Zip  (570KB)

 

 

INSTRUCTIONS FOR FILLING OUT A "COMPLETE PACKAGE APPLICATION"

INSTRUCTIONS FOR LIVING TRUST APPLICATION       Note:  / means a "check mark."

PAGE 1:

Representative fills in the two boxes at the top to get credit for the sale for 1099 use.

/ "A" if this is a Single trust or "A-B-C" if this is a Married trust.

/ "Children" if this is a Children’s trust. Also indicate if the trust is Revocable or Irrevocable by /ing the appropriate box.

1. Fill in all of the Client’s data including their "FULL middle name" spelled out. / the marital status of the Client.

2. If the client is married, has a legally separated spouse, domestic partner or their spouse is deceased ... fill in all the data for them and indicate status by /ing the appropriate box.

3. It is very important to get as much "Personal Residence Data" as possible. If the Client has a separate mailing address other than their home address ... please fill it in.

PAGE 2:

4. Fill in the First, MI, Last name of all children (living or deceased) in birth order. Indicate their sex, date of birth, status, marital status, per cent to inherit, and who is the natural parent. NOTE: "H" means Husband is natural parent, "W" represents the Wife, or "Both" meaning just what it says.

5. Other Heir’s Data is for other types of heirs other than natural, step, or adopted children.

6. Please list ALL disinherited persons to include ex-spouses, siblings, parents, etc.

7. / the form of distribution after death of Trustor(s).

Per Stirpes means that if a child beneficiary dies before the parent(s); all children of the deceased child beneficiary (i.e., grandchildren) will inherit his/her portion as a group to split amongst themselves equally.

Per Capita means that if a child beneficiary dies before the parent(s); the children of the deceased child beneficiary move up to the same level as all other sibling beneficiaries of the deceased child beneficiary, thus reducing the size of everyone’s inheritance.

Surviving Beneficiary means that if a child beneficiary dies before the parent(s); his/her portion is split equally amongst the surviving sibling beneficiaries and the children of the deceased child beneficiary get nothing.

8. / if the beneficiaries are to get their inheritance "outright" if age 18 or older or to get it in "thirds" such as 1/3rd at age 24, 1/3rd at age 27, and 1/3rd at age 30.

If none of the above forms of distribution meet your needs; please enter in the "Other Forms" section how you want you estate distributed. Be as detailed as necessary. Use additional sheets if required.

PAGE 3:

9. Please / if the client has any former/prior spouses. If "Yes", fill in their full name along with the date of the divorce to include what county in what state and what was the divorce case number.

10. Fill out the same information for any current spouse concerning any past marriages.

/ the appropriate box to indicate the Client’s wishes if all named beneficiaries predecease them.

/ the appropriate box to indicate the Spouse’s wishes if all named beneficiaries predecease them.

11. Successor / Co-Successor Trustees. These are the people who will read the trust after the Trustors are dead. They will collect all the assets together, pay all last expenses and financial obligations. They will also make all specific gifts if listed and then distribute the estate to the beneficiaries as indicated. They can operate in order of Succession or collectively as Co-Successors. NOTE: These cannot be the Client or his/her spouse ~ they’re dead.

PAGE 4:

12. If any of the beneficiaries have any handicap or disabling infirmity ... list them here by full name, relationship to who and how, along with their date of birth, address if different from parent(s), and provide Social Security Number.

13. If there are minor children under the age of eighteen ... a special trustee for the children’s inheritance may be required other than the appointed guardian. If so ... fill in the information for them here.

14. List all the Executors of the husband’s "Pour Over Last Will and Testaments". They do the same work at the same time as the Successor Trustees. They are usually the same people. If the same say so ... if not, list the information for the different people here.

15. List all the Executors of the wife’s "Pour Over Last Will and Testaments". They do the same work at the same time as the Successor Trustees. They are usually the same people. If the same say so ... if not, list the information for the different people here.

List all the entities being created, e.g.; 1 married living trust, 2 partnerships, 1 children’s trust, etc.

If a fee has been collected for an Attorney’s review; please indicate by / ing the appropriate box. Indicate what entities are to be reviewed by the Attorney.

PAGE 5:

16. On the left side of the page, / if the Client’s Power of Attorney to avoid conservatorship is Immediate (right now ~ I’m very sick) or Springing (for sometime later in life).

/ if the conservators are to act in order of succession or a co-conservators. Then fill in all the data for the Conservators. They can be the same as the Trustees and Executors or different people altogether. The spouse is automatically assumed to be the initial conservator (do not list them here). If the spouse is NOT to be a conservator ... state so here in BOLD WRITING.

17. On the right side of the page, / if the Spouse’s Power of Attorney to avoid conservatorship is Immediate (right now ~ I’m very sick) or Springing (for sometime later in life).

/ if the conservators are to act in order of succession or a co-conservators. Then fill in all the data for the Conservators. They can be the same as the Trustees and Executors or different people altogether. The spouse is automatically assumed to be the initial conservator (do not list them here). If the spouse is NOT to be a conservator ... state so here in BOLD WRITING.

PAGE 6:

18. Use the left side of the page for the husband/Client. List the primary Attorney in Fact to make health care decisions and two alternates. Here the Spouse can, and should, be used as the "Primary" attorney-in-fact. Select people who WILL carry out your wishes even if they are not family members. The DPOAHC is only as strong as the Agents.

19. Use the right side of the page for the spouse of the Client. List the primary Attorney in Fact to make health care decisions and two alternates. Here the Spouse can, and should, be used as the "Primary" attorney-in-fact. Select people who WILL carry out your wishes even if they are not family members. The DPOAHC is only as strong as the Agents.

List religious preference of the Client and Spouse in the Health Care Notes section; include if they have any concerns such as blood transfusions, etc.

PAGE 7:

20 and 21. If there are minor beneficiary children alive today ... please choose a Primary and Alternate guardian for the children. If this is a blended family (i.e.; children from prior marriages), use the back side of the page and indicate which children go where.

If the Client or Spouse have opinions as to what to do with their remains after death ... please list those concerns here.

22. Any other special instructions.

/ if the successor "trustees" are authorized to continue making $11,000 annual gifts to anyone that an annual gift program has already been created.

PAGE 8 and PAGE 9:

It is best to get a copy of the Deed and a copy of the Property Tax bill for each property. Only the primary residence can be Homesteaded. / if it the primary residence "is" or "is not" homesteaded. If the primary home is not homesteaded, / what to do with it.

If the Client wants to create a "Life Estate" to keep their primary home from being liened by Medi-Cal after their death; call the office for a definition of this option.

If the property was co-owned by a deceased Spouse and his/her name is still on the Deed; an Affidavit of Death of a Joint Tenant is required to remove his/her name off the title. Please / appropriate box to indicate if the Affidavit is required to be created or not.

PAGE 10 and PAGE 11:

Fill in all the information to describe businesses that the Client and/or Spouse own and operate NOW. These are not business entities being created. Also, if there are any outstanding Promissory notes that are being secured by a Deed of Trust on real property ... list the information here.

PAGE 12 and PAGE 13:

List the name, address, etc of all the banking institutions and / all the boxes that apply. Make sure to list the type of account and it’s corresponding account number.

PAGE 14 and PAGE 15:

List the name, address, etc of all the deferred compensation companies/institutions and / all the boxes that apply. Make sure to list the type of account and it’s corresponding account number.

PAGE 16 and PAGE 17:

List the name, address, etc of all the insurance companies and / all the boxes that apply. Make sure to list the type of account and it’s corresponding account number.

PAGE 18 and PAGE 19:

List the name, address, etc of all the stock companies/institutions and / all the boxes that apply. Make sure to list the type of account and it’s corresponding account number. List all shares, stocks, mutual funds, etc. not listed elsewhere. For example ... US Savings Bonds.

INSTRUCTIONS FOR LIMITED LIABILITY

ENTITY APPLICATION

PAGE 20, PAGE 21, PAGE 22 and PAGE 23:

NOTE: Pages 20 through 23 are enough to accommodate one, two, three, or more limited liability statutory entities; i.e., partnerships, limited liability companies, limited liability partnerships, etc. or a combination of entities.

1. / which type of entity to create ... either a general partnership, limited partnership, limited liability company, limited liability partnership, or other (e.g.; joint venture, association, etc.).

2. / whether this is a "business" or "family" entity being created.

3. Fill in all the information for the name, address, creation date, state and county of the entity.

4. Fill in the complete name, address and phone number for the "agent for service of process." This is the person who will accept any legal paperwork on behalf of the entity.

5. Fill in the complete name, address and phone number of the general partner who will be responsible to ensure the IRS tax forms are created.

6. List the name, address and percentage each partner is to receive.

7. / in the right column whether they are "general" or "limited" partners.

INSTRUCTIONS FOR ASSET PROTECTION

TRUST APPLICATIONS

PAGES 24 through 26 and PAGES 27 through 29:

NOTE: Pages 24 through 29 are enough to accommodate two common law entities; i.e., business trust, land trust, REIT, etc. or a combination of entities.

PAGE 24 and PAGE 27:

1. / which type of entity to create ... either a holding trust, business trust, CRAT, REIT, or other (e.g.; pure trust, blind trust, etc.).

2. / whether this is a "business" or "family" entity being created.

3. Fill in all the information for the name, address, and creation date, state and county of the entity.

4. Fill in the complete name, address and phone number for the "trust creator." This is the person who ensures that the trust document is correctly created, complete with funding, and will sign the documents, along with the "independent trustee," into existence. If there is a second "trust creator," his/her information is also required.

5. Fill in the complete name, address and phone number for the real/personal property "grantor." This is the person who makes exchanges of real and/or personal property into the trust. If there is a second "grantor," his/her information is also required.

6. Fill in the complete name, address and phone number for the "independent trustee." This person IS the boss of the trust with complete control without interference from the creator(s) and/or grantor(s). The "independent trustee" cannot be related to the grantor(s) or creator(s) by blood, marriage, or employment.

7. Fill in the complete name, address and phone number for the "adverse trustee." This person works with the "independent trustee" as a member of the Board of Trustees without interference or influence from the creator(s) and/or grantor(s). The "adverse trustee" represents the interest of the creator(s), grantor(s), or beneficial interest holder(s) and can be related to the grantor(s), creator(s) or beneficial interest holder(s) by blood, marriage, or employment; but does not have to be.

8. Fill in the complete name, address and phone number for the "successor independent trustee", if known This person will replace the "first independent trustee" of the trust in case of death or resignation. The "successor independent trustee" IS then the successor boss of the trust with complete control without interference from the creator(s) and/or grantor(s). The "successor independent trustee" cannot be related to the grantor(s) or creator(s) by blood, marriage, or employment.

7. Fill in the complete name, address and phone number for the "successor adverse trustee." This person works with the "independent trustee" and any other trustees without interference or influence from the creator(s) and/or grantor(s). The "successor adverse trustee" can be related to the grantor(s) or creator(s) by blood, marriage, or employment; but does not have to be.

PAGE 25 and PAGE 28:

8. Fill in the complete name, address and phone number for the "banking agent." This is the person who keeps the bank accounts current and balanced, writes checks, etc. all under the direction of the Board of Trustees. If there is a second "banking agent," his/her information is also required.

9. Fill in the complete name, address and phone number for the "assistant manager." This is the person who keeps the entity functioning on a day-to-day basis, etc. all under the direction of the Board of Trustees. If there is a second "assistant manager," his/her information is also required.

10. Fill in the complete name, address and phone number for the "trust advisor." This is the person who assists the Board of Trustees in wise business choices, investments, etc. all under the oversight of the Independent Trustee. If there is a second "trust advisor," his/her information is also required.

11. Fill in the complete name, address and phone number for the "reviewing attorney." This is the person who will review the trust documents on behalf of the creator(s), grantor(s), etc. to check for legality, accuracy, etc.

12. Fill in the complete name of the "grantor(s)" notary, if known.

13. Fill in the complete name of the "creator(s)" notary, if known.

14. Fill in the complete name of the "independent trustee’s" notary, if known.

15. / "Yes" or "No" to indicate if real property is being added to the trust. If "Yes," list all properties being exchanged into the trust.

16. List if this is an "Original" or "Reformation" of trust.

17. List if the trust is "Simple" or "Complex." "Simple" means all income MUST be distributed to the beneficial interest holder(s) at the end of each year. "Complex" means the trust can retain all or a portion of the profits; but if it does ... there could be severe income tax consequences.

18. Fill in the complete name, address and phone number for the "trust protector," if required. This is the person who will oversee the Board of Trustees to ensure that they do their job in their highest fiduciary capacity. The "trust protector" has the authority to fire the trustees but only "with cause."

19. / "Yes" or "No" to indicate if the "trust protector" will be a member of the Board of Trustees. Most "trust protectors" are NOT members of the Board of Trustees.

PAGE 26 and PAGE 29:

20. Enter the number of units of beneficial interest that will be given for the real and/or personal property exchanged into the trust. These units will be given to the grantor(s) of property and/or the unit holder(s). NOTE: The units of beneficial interest ARE NOT issued on a "pro rata" basis.

21. List the name, relationship, and percentage each successor beneficiary is to receive after the death of the grantor(s) / exchangor(s).

END OF INSTRUCTIONS

The remainder of the forms have their own instructional sheets following each form.

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