Strategic Evolution Pty Ltd
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The Will Score Online
Do you have a current and valid WILL
*
Yes
Unsure
No
Are you certain it is current, tax effective and fair?
*
Yes
Unsure
No
Who prepared your recent WILL
An Estate Planning Specialist
A Solicitor
A Good Friend (Solicitor)
My Accountant arranged it
Newsagency Will Kit
I did it Myself
Does your current WILL have Asset Protection built in? i.e Testamentary Trust Provisions?
Yes
Unsure
No
Have you ensured fairness of amounts between beneficiaries?
Yes
Unsure
No
How likely is it that your WILL could be challenged or contested?
Not Likely
Maybe
Highly Likely
How confident are you that your estate proceeds will end up in the right hands of the right people at the right time?
Very Confident
Somewhat Confident
Not Confident
Would your family's lifestyle be compromised by unexpected delays in access to money should you die?
No
Unsure
Yes
Is your executor aware of the location of your important documents and how to access them after you have gone? Eg WILL, Enduring Power of Attorney, Trust Deeds etc?
Yes
Unsure
No
Do you have adequate life insurance or surplus cash to cover your existing debts?
Yes
Unsure
No
Have you fully completed your Enduring Powers of Attorneys?
Yes
Unsure
No
Have you completed your Medical Directives?
Yes
Unsure
No
Have you prepared a fully documented and funded Estate Letter of Instructions for those you love which provides a simple summary in regards to your wishes? This includes assets owned, monies owed and whom to seek advice from in the event of your death?
Yes
Unsure
No
Are you certain your family's income and assets are protected from family disputes should you die?
Yes
Unsure
No
Have you already put documents in place to ensure your assets stay within your family bloodline upon your death?
Yes
Unsure
No
Does your existing Will contain Testamentary Trust provisions?
Have you documented HOW younger beneficiaries receive their assets (or control of them) at an appropriate age?
Yes
Unsure
No
N/A
Have you considered & documented WHO will control your family wealth post your death?
Yes
Unsure
No
N/A
i.e who will control family trusts?
Do you have a spouse or life partner?
Yes
No
Your Spouse/Partner
Spouse/Partners Name
Is your spouse/life partner confident and comfortable with your nominated executors and do they feel they are appropriate based on your current situation?
Yes
Unsure
No
Is your spouse/partner certain of your intentions, funeral wishes, what to do and any other requirements post your passing?
Yes
Unsure
No
Does your spouse have access to a seperate bank account (ie in their name) for immediate cash needs?
Yes
Unsure
No
Does your spouse/partner have a current WILL?
Yes
Unsure
No
Are you certain your spouse/partners WILL is current, tax effective and fair?
Yes
Unsure
No
N/A
If your spouse/partner suffered a major trauma, illness or death, would this financially disadvantage you?
No
Unsure
Yes
In the event of your death have you documented & ensured if your spouse/partner remarries, it does not result in another person outside your current bloodline receiving a large portion of your estate?
Yes
Unsure
No
Are there any other issues in regards to your spouse/partner you would like to discuss or are concerned about?
Do you have children or anticipate having children (or step children)?
Yes
Unsure
No
Your Children/Dependants
In the event of your death, are you certain that there is sufficient financial provision for your children to be provided and cared for adequately?
Yes
Unsure
No
In the event of your death, are you certain your choice of guardian for any young chidren (as documented within your WILL) is current and appropriate?
Yes
Unsure
No
Do you have concerns about a child's ability to manage money (i.e they may have a gambling or substance addiction or are inexperienced in dealing with financial matters)?
No
Unsure
Yes
Are you concerned that there is potential for family squabbles over money or issues which may ruin family relationships?
No
Unsure
Yes
Is there a chance you have a child who may seperate from his or her spouse?
No
Unsure
Yes
Are there any other issues in regard to children (or step children) that you would like to dicuss or are concerned about?
Do you own a business?
Yes
No
Children and Business Succession
Do you have plans for your children to take over the business?
Yes
Unsure
No
Do you have concerns that your children are to treated fairly and, if more than one is active in the business, the succession arrangements preserves harmony among them?
Yes
Maybe
No
Are you concerned with the spouses of your children ending up with an unintentional share of your business after a marriage failure?
Yes
Maybe
No
Your Business
Do you have any formal agreements in place regarding the business transfer and succession?
Yes
Unsure
No
Is the agreement above funded to ensure cash is available to your family at the right time and their financial interests are protected?
Yes
Unsure
No
Do you have concerns regarding your succession plan and its effect upon your staff?
No
Maybe
Yes
Is there risk in your business of litigation against you?
No
Unsure
Yes
Are you confident that your business succession plan minimises any potential tax impositions?
Yes
Unsure
No
Is your nominated successor qualified, relevant, approved and appropriate?
Yes
Unsure
No
Could your estate proceeds be diminished by guarantees, provided by you for the benefit of your business partner, that are not removed upon your death?
No
Unsure
Yes
Is it possible that upon your early death, current share holding could end up outside your familys control?
Yes
Maybe
No
Have you considered selling your business to a third party rather than family succession?
No
Maybe
Yes
Do you have any other questions or issues in regard to your Business Succession plan?
Do you have any trusts?
Yes
Maybe
No
Trust Arrangements
Are you aware of all the trusts which you have an interest?
No
Unsure
Yes
Are you aware control of trusts is not necessarily covered in your Will?
No
Maybe
Yes
Are you aware who controls any trusts you are involved with?
No
Unsure
Yes
Has appointee succession been addressed for those trusts when you pass?
No
Unsure
Yes
Are you satisfied that your trust deeds are up to date?
Yes
Unsure
No
Have you documented comments or wishes in regards to specific assets in any trusts?
No
Unsure
Yes
Should any existing assets be passed into a trust now or on your death?
Yes
Unsure
No
Last Step
Name
First
Last
Best contact number?
Email
Thank you for completing our Will Score survey! You will notice there is SCORE below which will help us identify different areas we may need to address and focus on during your succession plan. If you have any specific concerns we have not yet identified, please give us some details below.
Mark Westcott
Strategic Evolution
0418743888
|
mark@strategicevolution.com
|
www.strategicevolution.com
| Skype:
mark.westcott
|
PO Box 777, Sanctuary Cove QLD 4212
