Wills Trust and Estates
Answer the following questions in complete sentences. Incorporate no less than 2 credible sources into your answers and cite them in APA format. If you are not familiar with APA format, apastyle.apa.org is a good website to use. The minimum word requirement for this assignment is 500 words, not counting the references or writing out the questions.
Chapter Six
1. How does one qualify for Medicare?
2. What is Part B Medicare coverage?
3. What is the “look-back rule”?
4. Define “health care proxy.”
5. Who needs a guardian?
6. What is a representative payee?
7. Who administers Social Security?
8. Are all veterans entitled to a burial allowance?
Copy the following Estate Planning Worksheet and complete it for a fictitious person.
Estate Planning Worksheet
Date:
Name
Permanent Address:
Home Telephone Number:
Personal
Birth: Date: Place:
Legal residence (domicile):
When established and how:
Date of marriage:
Separation:
Divorce:
Domicile at time of marriage:
Employment:
Employer’s name:
Employer’s address:
Dates of employment:
If retired, date of retirement:
Social Security number:
Served in Armed Forces
Branch, dates, and discharge:
Children:
Name: Age: Residence:
Assets
Safe deposit box:
Location
Number
Location of keys:
How held:
Life Insurance:
Amount:
Insurer:
Policy number:
Beneficiary:
Annuities:
Pension and/or Profit Sharing Plan:
Benefits:
Goods in Storage
Jewelry:
Household Effects (indicate insurance):
Other Personal Effects:
Health Insurance:
Automobile:
Real Estate (indicate location and legal description):
Jointly Held Property:
Bank Accounts:
Name of banks:
Type of account:
Account Number:
Balance:
Brokerage Accounts:
Location:
Name, address, and telephone number of broker:
Unexpired Leases
Oil interests:
Claims against other, including notes and mortgages:
Suits against Others:
Where filed:
Status:
Attorney:
Interests in Other Estates
Interests in Trusts:
Member in a Partnership:
Stockholder in a Close Corporation:
Credit for Previously Taxed Property:
Name of decedent:
Date of death
Name of executor:
Other property:
Spouse
Marital Status:
Name (including maiden name if applicable):
Date of Birth:
Place of Birth:
Spouse’s Income in His or Her Own Right:
Tax Information
Children qualifying as Dependents:
Names of Other Dependent Relations:
Residences of Dependents:
Where was Income Tax Filed:
Are All Taxes Fully Paid?
Estimated Taxes Filed?
Copies of Returns
Name and Address of Tax Preparer:
Sources of Income other than Principal Business:
Any Gift Tax Returns?
Describe Major Gifts Made:
Liabilities
Debts to band and other Creditors:
Mortgages:
Any Endorsements or Guarantor or Other Instruments:
Estate Matters
Potential Heirs
Name:
Social Security member:
Date of Birth:
Address:
Relationship:
Any Powers of Appointment?
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