Baldwins Lawyers and Consultants

BALDWINS

Australian Lawyers & Consultants

Instructions to Baldwins For Will and Estate Planning

For information and to make an appointment please contact:

Mr Joe. Lederman
Baldwins, Lawyers and Consultants
Level 6, 313 LaTrobe St
Melbourne
Victoria 3000
Australia

Phone: (+6 13) 9606 0022
Fax: (+6 13) 9606 0882
Email: mail@baldwins.com.au

Part A: General Information
Part B: Details of Testator's Assets and Liabilities
Part C: Will Making Objectives of the Testator

(Please print out and then fill in; also use reverse side of photocopied pages if you need extra space. If extra information or documents are requested, please endeavour to provide these.)

INSTRUCTIONS WILL BE TAKEN IN PERSON IN CONFERENCE WITH THE TESTATOR

PART A. GENERAL INFORMATION

1) Client (Testator) details

Name:

Work Phone:

Occupation: Home Phone:

Residential Address:

Postcode:

Other names used by the client:

2) Trusts and Family Trusts

(a) Does the client control any trust ? Yes/No

(b) Is the client a beneficiary of any trust ? Yes/No

(c) Please provide copies of Trust Deeds of each Trust ?

(d) Please refer to PART B

3) Spouse details

(a) Is the client currently married? Yes/No

(b) Date of marriage (or approximate date):

(c) Name and residential address of current spouse (if any)

Name:

Residential address:

(d) Has the client ever been married before? Yes/No

(e) Is the client's former spouse still alive? Yes/No

(f) If so, please advise of relevant dates
(eg. date of separation, or divorce or death of former spouse):

(g) Please supply details of any maintenance arrangements:

4) Children

(a) Details of children of current marriage or relationship

Full name Age or Birthdate

1. Aged:

2. Aged:

3. Aged:

(b) Details of children of former marriage or relationship

Details of parents Child's full name Age or Birthdate

................... 1. Aged:

................... 2. Aged:

................... 3. Aged:

(c) Are any of the children referred to in (a) or (b), the client's step-children
OR adopted children? If so, please provide details:-

(d) Are there any under-age beneficiaries (eg. grandchildren)

Details of parents Child's full name Age or Birthdate

................... 1. Aged:

................... 2. Aged:

................... 3. Aged:

................... 4. Aged:

................... 5. Aged:

5) Relatives

(a) Full names of two closest living relatives (e.g. spouse, child, parents) of testator:

(b) By law, any children or spouse or former spouse (and other relatives) could possibly be entitled to take legal action to obtain a share (or a BIGGER share of an estate)

Is there any such person whom the testator fears could make any claim in relation to the testator's estate or any assets? Yes/No

(c) If so, please provide name, address and birthdate details of such person:

(d) In relation to each such person, please provide the following further information:

(i) Reasons why such person(s) is not being made a primary beneficiary of the Will;

(ii) Details of any gifts or trust distributions or property settlements ever made to the person (or any members of that person's family);

(iii) Information concerning that person's current financial resources (income or capital) of which the client may be aware;

(iv) The nature of the personal relationship - details also of the extent of the contact and level of communication by that person with the testator;

(iv) Any aspect of such person's needs (e.g. health or educational needs) of which the client may be aware;

PART B. DETAILS OF TESTATOR'S ASSETS AND LIABILITIES

There are a number of issues that need to be considered from an estate planning and tax planning viewpoint. For example:

1) Some of the client's assets may not necessarily be governed by his/her proposed Will.

Assets that are not necessarily governed by a Will include :

(i) Assets owned by a Trust (e.g. a Family Trust) controlled by the client;

(ii) Life insurance - depending on the terms of the Policy;

(iii) Superannuation entitlement - depending on the Trust Deed;

(iv) Jointly-owned assets (ie a "joint" co-owner will automatically become the full owner on death of the other co-owner as against a co-ownership as tenants-in-common)

(v) Assets owned by a Company controlled by the client (a shareholding may belong to the client but not the assets of the company in which the share is held)

2) N.B. Under the Capital Gains Tax (CGT) Legislation, assets acquired prior to 20/9/85 are nevertheless deemed to have been acquired by the Estate as from the date of death. Upon death, a valuation will need to be made and capital gains tax may apply when taxable capital gains are made by the Estate (or its beneficiaries).

For assets that have been acquired or inherited subsequent to 19/9/1985, a capital gains tax liability can arise on any disposals/transfers following the death in relation to any capital gain.

The estate may bear the CGT liability unless the Will provides otherwise.

3) Assets in sole ownership of the client:-

(N. B. in the case of publicly listed shares, you may wish to provide the information in the form of a schedule, including share certificate numbers, and an indication of the nature of the portfolio. Detail whether any particular bonus shares are "grandfathered" to specific pre-CGT shares.)

Asset                          date of acquisition         $purchase price                      Current market value:
(inc. title nos./                                                  (plus other acquisition costs             (Approx)
details of mortgages)                                         ie stamp duty, brokerage)

4) Assets jointly owned:-

Asset              Owners date of acquisition            $purchase price                             Current
(inc. title nos./                                                     (plus other acquisition costs           market
details of mortgages)                                             ie stamp duty, brokerage)             value
                                                                                                                                  (approx)

5) Debts (mortgages and other) (all property)

1.
2.
3.
4.
5.

6) Personal Principal Residence

(a) When was the residence purchased?

(b) How long has the client lived at the principal residence?

(c) (i) Has the residence ever been used by the family as an investment property?

Yes / No (Please circle appropriate answer)

(ii) If yes, when and for how long?

7) Details of Trusts

Please provide :

(a) copies of Trust Deeds of all relevant Trusts (in respect of which the client is a beneficiary or appointor or director of the trustee);

(b) details of liabilities of each Trust - [NB. Subject to client's instructions, some of these may need to be repaid (immediately or on terms) or be assigned];

(c) copy of the last balance sheet of each Trust;

(d) details of loan accounts (credit and debit) of client in respect of any Trust;

(e) special wishes of client in relation to the assets of the Trusts after death of the client.

(f) assets:
Approx
Asset Trustee date of acquisition $purchase price        Current
(inc. title nos./ ATF Trust    (plus other acquisition costs Market
details of mortgages)    ie stamp duty, brokerage) Value

8) Details of all private companies in client group

In relation to each such company:

(a) Copy of Constitution (or formely described as Memorandum and Articles of Association) of each company, and in particular details of provisions governing transfers of shares by shareholders;

(b) Details of shareholding and directorships;

(c) Details of main activity of the company;

(d) Period from which company conducted its principal activities

(e) Details of any shareholding changes since 1984;

(f) Details of any major business (or property) acquisition or sale by the company since 19/9/1985

(g) Details of major loan accounts (both debit and credit loan accounts)

(h) Approximate market values of company assets and liabilities;

(i) Details of (or copies of) any buy- sell agreements or shareholder agreements or arrangements in relation to buy-outs following death;

(j) Any other relevant information

9) Unit Trusts

In relation to each such unit trust:

(a) Copy of Trust Deed and, in particular provisions governing transfers of units by unit holders;

(b) Details of unit holdings and in relation to the trustee company, shareholdings directorships;

(c) Details of main activity of the Unit Trust;

(d) Period from which Unit Trust has conducted its principal activities

(e) Details of any unit holding changes since 1984;

(f) Details of any major business (or property) acquisition or sale by the Unit Trust since 19/9/1985

(g) Details of major loan accounts (both debit and credit loan accounts)

(h) Approximate market values of Trust assets and liabilities;

(i) Details of (or copies of) any buy- sell agreements or unit holder agreements or arrangements in relation to buy-outs following death;

(j) Any other relevant information

10) Superannuation and Life Insurance Policies

(i) Copies of current Trust Deeds (including variations)
(ii) Copies of policies
(iii) Details of assignments or nominations of beneficiaries
(iv) Copy of last ISC in relation to the Superannuation Fund
(v) Copy of last Tax return in relation to the Superannuation Fund and details of Balance Sheet, Profit and Loss Account
(vi) In relation to Superannuation Fund Assets, current market values of each asset - compared with value as at 1/7/1988 (NB. 1/7/88 is a relevant date for CGT on Superannuation Fund assets not 19/9/85) or any such subsequent date (post 1/7/88) as at which the asset was acquired by the superannuation fund

PART C. WILL MAKING OBJECTIVES OF THE TESTATOR

1. Details of executors chosen by the client:

(a) jointly or successively (please advise): ..................
(b) details of executors (in order)

Full Name Relationship to client Address Occupation

2. Any specific bequests:

Money amount or Full name Relationship Address &
asset description of beneficiary to client Occupation

3. If the client's spouse does not survive the client by 30 days, the client wishes to appoint the following person as guardian of the client's under-age children:

Full Name Relationship to client Address & Occupation

4. Names and addresses of Main beneficiaries and any other details

Full Name Relationship to client Address & Occupation Bequest

1.
2.
3.
4.
5.

5. Special provisions - e.g. testamentary trusts for particular beneficiaries, and e.g. details of any charitable bequests or special wishes