THE GURVEY LAW GROUP, PC
INTER VIVOS TRUSTS QUESTIONNAIRE
(for revocable trusts)

Name(s) of Grantor:
Address:

__male      __female      __a couple (if a couple, "Grantor" hereinafter refers to both the husband and wife)

__married   __widow(er)   __divorced   __single
__a party to a __same-sex marriage, __domestic partnership or __civil union

Name of spouse:

__spouse is to execute Declaration solely to waive dower, courtesy or similar rights

Children:  __NONE  __1   __2   __3   __4   other: ___
__more children are anticipated
Adopted children are to be __expressly included, __expressly excluded or __Declaration is to be silent
Name(s) of children (indicate if minor, deceased, with issue, by prior marriage, adopted, etc.):

Approximate assets of Grantor:  $
Approximate assets of spouse:  $
Additional assets anticipated by death (including life insurance proceeds and assets which may be inherited):  $
Combined assets:  $

Health of Grantor and family members:  

Month in which Declaration is to be executed:  
Day [or you can leave the day blank]:  

__prepare an amendment and restatement of the trust

"Material Purposes" of the trust (a description of what the Grantor wants to achieve) which you might want to manually add in a WHEREAS clause:  

The trust is to be funded with what types of property (the description of the property is to appear in Exhibit A) -
__fixed dollar amount (if so, indicate below types of property to be later acquired by Trustee)
__life insurance
__death benefits under retirement account or a benefit plan
__real estate - describe the property:  

__stocks or securities [__Subchapter S stock]
__other types of property:  

Grantor, while living, can direct payments to whomever Grantor desires.  If Grantor becomes disabled or incompetent, Trustee is to pay income to -
__Grantor, Grantor's spouse and/or Grantor's children [__and more remote issue]
__Grantor and/or Grantor's spouse
__Grantor and/or Grantor's children [__and more remote issue]
__just Grantor
__Grantor's spouse and/or children [__and more remote issue]
__just Grantor's spouse
__just the children [__and more remote issue]
__one beneficiary:  
__several beneficiaries:

__Trustee may invade principal for these beneficiaries (usually)

NOTE:  The American Taxpayer Relief Act of 2012 set the estate tax at 40% on estates over $5,000,000, indexed for inflation.  It also deleted the 12/31/2012 "sunset provisions" from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 and the Economic Growth and Tax Relief Reconciliation Act of 2001 so that unification of the estate tax exclusion amount, gift tax exemption and GST exemption would continue at $5,000,000, subject to indexing.  The Tax Cuts and Jobs Act doubled the exclusion amount and exemptions, effective 1/1/2018.  The exclusion amount and exemptions again are indexed, i.e., currently $12,060,000 for a single person and $24,120,000 for a couple.  The estate tax exclusion amount continues to be "portable" -- the basic exclusion amount of a surviving spouse may be increased by the unused exclusion amount of the deceased spouse, letting a couple exclude $24,120,000 from the federal estate tax, without having to use a credit shelter trust.  Future legislation may again change the Federal tax laws.  And state estate and inheritance tax laws have been and may continue to be in flux.  Flexibility remains an important objective when drafting wills and trusts.  
Several types of trusts can give flexibility to an estate plan.  Creating a credit shelter trust (bypass trust) that is funded only to the extent the spouse elects to disclaim a bequest lets the spouse decide what's best at the time.  Or one can put a dollar cap on the amount of the credit shelter trust.  Or if you create a marital deduction trust with QTIP provisions, instead of a credit shelter trust, the fiduciary rather than the spouse can decide what's best after the client dies.  Or the creation of a credit shelter trust can be contingent upon the exclusion amount in effect when the client dies.  
If the spouse is not a U.S. citizen you can elect to prepare a marital deduction trust with qualified domestic trust provisions so that estate taxes may be avoided.

Upon Grantor's death, the trust assets are to be - 
__paid to Grantor's executors (to pass under Grantor's Will)
__used, in part, to make cash bequests - state amount and name beneficiaries:  

__Grantors are a COUPLE and upon the death of one Grantor the trust estate is to be divided into two shares (based on the property contributed by each), with one share to be controlled by the surviving Grantor and the other share be to held in a credit shelter trust (a bypass trust) and/or a marital deduction trust as indicated below.
__held in a credit shelter trust for the benefit of:
__spouse [__and children __and more remote issue, __but give primary consideration to the needs and desires of the spouse]
__children [__and more remote issue]
__one beneficiary:  
__several beneficiaries:  

The credit shelter trust is to be funded with -

__amount that spouse disclaims [recommended]

__amount of Grantor's assets which may pass free of federal estate tax pursuant to the available unified credit and applicable exclusion amount
__put a dollar cap on said amount - $
__limit said amount to a fraction or percentage of the gross estate - 

__a fixed dollar amount: $

__credit shelter trust is not to created if upon the death of the Grantor (1) the exclusion amount is $12,060,000 or greater [or __$3,500,000 or greater] and (2) a surviving spouse can use the unused exclusion amount of a deceased spouse (since the credit shelter trust is not needed the federal estate tax if that law is still in effect)
__assets may be transferred from the credit shelter trust to a marital deduction trust to reduce state death taxes
__credit shelter trust is to be a pre-residuary bequest, with the marital deduction trust as the residuary estate (usually best) [vs __credit shelter trust as the residuary or __fractional share]
__use date of distribution values rather than the values determined for federal estate tax purposes
__the executor or personal representative may transfer assets from the credit shelter trust to a marital deduction trust to reduce state death taxes
__give limited power of appointment to spouse over principal of the credit shelter trust
__give first spouse to die a testamentary power of appointment over the trust estate to be used to increase the funding of the spouse's credit shelter trust (and perhaps avoid use of retirement benefits to fund that trust)

(Indicate below how the trust assets remaining after funding the credit shelter trust should be held or disposed of)

__held in a marital deduction trust
__QTIP
__QTIP with limited power of appointment to spouse
__general power of appointment to spouse
__an estate trust

__include QDT provisions (foreign spouse)
__include power to allocate GST exemption 
[and __expressly create a separate QTIP trust for the GST exemption in excess of the credit shelter trust, __merely authorize splitting trusts to allocate the exemption, __authorize Trustee to confer general power of appointment on children so they may make gifts to grandchildren not subject to the GST tax]
__paid outright to spouse
__held in a Family Trust for the spouse and descendants
__held in trust for children
__paid outright to children
__held in trust for one beneficiary:  
__paid outright to one beneficiary:  
__held in trust for several beneficiaries:  
__paid outright to several beneficiaries:  

__Trustee may pay Grantor's estate taxes to the extent allocable to trust [__and Trustee may pay other debts of Grantor]

If Grantor's spouse is a beneficiary -
__Trustee may invade principal
__spouse may withdraw $5000 or 5% of principal per annum [__exercisable only on December 31st for the credit shelter trust]
__if annual income is less than a specific percentage of principal, spouse is to receive not less than that minimum percent - __6%/__other:  
__spouse may invade principal without limit (rarely appropriate)
Upon spouse's death, the trust assets are to be -
__paid to (or held for) Grantor's issue
__disposed of as spouse may appoint [__among a class comprised of Grantor's issue, or __without limitation]
__other:  

Re Grantor's children as beneficiaries -
__Trustee may invade principal
__children may withdraw $5000 or 5% per annum
__trust is to continue for life of child, rather than terminating at specific age
When a child dies, trust assets are to be paid to -
__child's issue per stirpes [__subject to Trustee's discretion to hold property for minors, or __share MUST be held in trust]
__child's executors
__one or more specific beneficiaries:  
__Grantor's issue
__other beneficiaries of the trust
__Declaration is to be silent on the subject

Re beneficiaries other than spouse or children -
__Trustee may invade principal
__beneficiary may withdraw $5000 or 5% per annum
__trust is to continue for life of beneficiary, rather than terminating at specific age
When a beneficiary dies, the trust assets are to be paid to -
__beneficiary's issue per stirpes [__subject to Trustee's discretion to hold property for minors, or __share MUST be held in trust]
__beneficiary's executors
__one or more specific beneficiaries:  
__Grantor's issue
__other beneficiaries of the trust
__Declaration is to be silent on the subject

If trusts are to terminate at specific ages, what ages -
__18      __19      __21      __25      __30
__25 but 1/2 is to be released when 21
__30 but 1/3 is to be released when 21 and 1/3 at 25
__35 but 1/3 is to be released when 25 and 1/3 at 30
__other:

Appoint -
__Grantor and a successor Trustee(s)
__Grantor and a co-Trustee
__one Trustee
__two co-Trustees
__one Trustee and a successor Trustee(s)

Enter name(s) and address(es) of Trustee(s), and whether Trustee is a __male/ __female/ __bank/ __trust company/ __corporation, and whether Trustee is going to sign Declaration:

If a Trustee fails to qualify -
__the co-Trustee may act alone 
__the co-Trustee may appoint a new co-Trustee
__another Trustee is to be designated in Declaration  Name(s), etc.:

__a Trustee also is a beneficiary

__OMIT the "decisions of the Trustee conclusive clause"

__a majority of beneficiaries (after the death of Grantor) may remove Trustee and appoint successor not related or subordinate within the meaning of 26 U.S.C. Sec. 672(c)

__Declaration is be protective of Trustee's rights

__accounts of Trustee may be settled by beneficiaries (after death of Grantor), rather than judicially [__accounts must be presented for settlement annually, __acceptance by a majority of beneficiaries binds the other beneficiaries]

__commissions of a corporate Trustee are be pursuant to its schedule [charge to: __principal, __income, __principal and income equally, __silent on subject]

__appoint one or more "Trust Directors" with powers to remove Trustees, amend trusts, and take other actions to further assure that the intent of the Grantor is carried out - Name(s) and address(es) of Trust Director(s):  

__appoint one or more "Investment Advisors" powers to manage all investments of trust assets - Name(s) and address(es) of Investment Advisor(s) [__same as Trust Directors]:  

__express directions regarding investments:  

Re survivorship -
__in the event of death in a common accident, the spouse is to be deemed to have survived Grantor (this may reduce the estate taxes to be paid by a couple, if Grantor's assets are large and spouse's assets are modest)
__a person is to be deemed to survive another only if the person survives for a prescribed number of days - __30 days/__other:  

RARELY do you want any of the following -
__Trustee may terminate a trust if trust fund is a small amount [__only if principal is less than $          ]
__OMIT the "rule against perpetuities savings clause"
__OMIT the "powers in trust clause" (which gives Trustee broad discretion to hold or distribute property to a minor or incompetent, or a guardian or parent, after termination of a trust)
__provide for "per capita" distributions, rather than "per stirpes" distributions, and/or __include a definition of the method of distribution
__expressly authorize disclaimers
__dispositions of tangible personal property upon the death of Grantor (like a will):  

__require a bond from Trustee
__expressly provide "reasonable" compensation for Trustee
__allocate Trustee commissions between principal and income
__powers re oil, gas and mineral rights
__include no-contest clause
__NEW - a supplemental needs trust for any beneficiary who becomes disabled
__omit spendthrift clause
__rights of Grantor's spouse expressly are to terminate upon divorce
__include a virtual representation clause to reduce the need to appoint a guardian to represent a person under a disability  [__approval by adult beneficiaries is to bind minor beneficiaries]
__expressly relieve banks, as depositories of trust assets, from verify propriety of acts of Trustee
__recommend your firm as attorney for Trustee

__prepare a Memorandum of Trust
__prepare a deed and/or other instruments of transfer

STYLE QUESTIONS -
__the "Declaration of Trust" is to be called some other name [__Trust Agreement  __Trust Indenture  __Trust Deed] 
__use terms other than "in equal shares per stirpes" and "Grantor"
__double spacing
__omit table of contents and titles of article

form of venue:  
STATE OF GEORGIA, COUNTY OF                     , ss.

INTER VIVOS TRUSTS QUESTIONNAIRE
(for IRREVOCABLE trusts)

Name(s) of Grantor:
Address:

__male      __female      __a couple (if a couple, "Grantor" hereinafter refers to both the husband and wife)

__married   __widow(er)   __divorced   __single
__a party to a __same-sex marriage, __domestic partnership or __civil union

Name of spouse:

__spouse is to execute Declaration solely to waive dower, courtesy or similar rights

Children:  __NONE  __1   __2   __3   __4   other: ___
__more children are anticipated
Adopted children are to be __expressly included, __expressly excluded or __Declaration is to be silent
Name(s) of children (indicate if minor, deceased, with issue, by prior marriage, adopted, etc.):

Approximate assets of Grantor:  $
Approximate assets of spouse:  $
Additional assets anticipated by death (including life insurance proceeds and assets which may be inherited):  $
Combined assets:  $

Health of Grantor and family members:  

Month in which Declaration is to be executed:  
Day [or you can leave the day blank]:  
"Material Purposes" of the trust (a description of what the Grantor wants to achieve) which you might want to manually add in a WHEREAS clause:  

The trust is to be funded with what types of property (the description of the property is to appear in Exhibit A) -
__fixed dollar amount (if so, indicate below types of property to be later acquired by Trustee)
__life insurance
__death benefits under retirement account or a benefit plan
__real estate - describe the property:  

__stocks or securities [__Subchapter S stock]
__other types of property:  

Is this to be any of the following types of specialty trusts:
__a Section 2503(b) or 2503(c) trust (for gifts to a minor)
__a Walton grantor retained annuity trust
__a qualified personal residence trust
__a charitable trust (wholly charitable vs lead vs remainder trust, annuity vs unitrust)
__a supplemental needs trust for a specific beneficiary or __self-settled, income-only Medicaid trust
Enter the specifics:  

__an asset protection trust formed under the laws of Delaware, Alaska or Nevada [NEW] - specifics:  

__Grantor is to be a beneficiary of income
__just Grantor is to receive income [__and principal] during Grantor's life
__Grantor AND __Grantor's spouse and/or __children are to receive income [__and principal] during Grantor's life
__rights of Grantor (and Grantor's spouse) to income or principal are to terminate if in a nursing or health care facility

Upon Grantor's death, trust assets are to be -
__held in trust for Grantor's spouse [__and children]
__paid outright to Grantor's spouse 
__held in trust for Grantor's children 
__paid outright to Grantor's children 
__held in trust for one beneficiary:
__paid outright to one beneficiary:
__held in trust for several beneficiaries:
__paid outright to several beneficiaries:

If Grantor is NOT the beneficiary, who is -
__Grantor's spouse [__and children]
And upon spouse's death to -
__Grantor's children
__one beneficiary:  
__several beneficiaries:  
__Grantor's children
__one beneficiary:  
__several beneficiaries:  

__trust for children is to be a "sprinkling trust" (giving Trustee discretion as to how any income is to be paid)

__the trust is funded with life insurance and distributions of income are to be discretionary rather than mandatory prior to the death of the Grantor, and the trust should not terminate prior to the death of the Grantor

__the trust is funded with life insurance and a marital deduction trust [or __outright bequest Grantor's spouse] is to be create in case Grantor dies within 3 years for trust assets includible in Grantor's estate

__beneficiaries are to have "Crummey" powers to withdraw new contributions each year

__withdrawal rights are to apply to initial contributions

If the annual gift is greater than 5% of the trust estate, the lapsing of the withdrawal right may constitute a taxable gift by the beneficiary to the trust.  Is this to be avoided by: __ limiting the withdrawal right to the greater of $5,000 or said 5%; __ giving the beneficiary a testamentary power of appointment over lapsing amounts not withdrawn if the amount exceed $5,000 or 5%; or __ having the withdrawal right lapse each year only by $5,000 or 5% (a "hanging power")

__distributions of income to Grantor's children are to commence only after Grantor [__and Grantor's spouse] have died 

__Grantor is to have a limited power of appointment to direct payments to Grantor's issue, siblings or spouses

If Grantor's spouse is a beneficiary -
__Trustee may invade principal
__spouse may withdraw $5000 or 5% of principal per annum [__exercisable only on December 31st for the credit shelter trust]
__if annual income is less than a specific percentage of principal, spouse is to receive not less than that minimum percent - __6%/__other:  
__spouse may invade principal without limit (rarely appropriate)
Upon spouse's death, the trust assets are to be -
__paid to (or held for) Grantor's issue
__disposed of as spouse may appoint [__among a class comprised of Grantor's issue, or __without limitation]
__other:  

Re Grantor's children as beneficiaries -
__Trustee may invade principal
__children may withdraw $5000 or 5% per annum
__trust is to continue for life of child, rather than terminating at specific age
When a child dies, trust assets are to be paid to -
__child's issue per stirpes [__subject to Trustee's discretion to hold property for minors, or __share MUST be held in trust]
__child's executors
__one or more specific beneficiaries:  
__Grantor's issue
__other beneficiaries of the trust
__Declaration is to be silent on the subject

Re beneficiaries other than spouse or children -
__Trustee may invade principal
__beneficiary may withdraw $5000 or 5% per annum
__trust is to continue for life of beneficiary, rather than terminating at specific age
When a beneficiary dies, the trust assets are to be paid to -
__beneficiary's issue per stirpes [__subject to Trustee's discretion to hold property for minors, or __share MUST be held in trust]
__beneficiary's executors
__one or more specific beneficiaries:  
__Grantor's issue
__other beneficiaries of the trust
__Declaration is to be silent on the subject

If trusts are to terminate at specific ages, what ages -
__18      __19      __21      __25      __30
__25 but 1/2 is to be released when 21
__30 but 1/3 is to be released when 21 and 1/3 at 25
__35 but 1/3 is to be released when 25 and 1/3 at 30
__other:

Appoint -
__one Trustee
__two co-Trustees
__one Trustee and a successor Trustee(s)

Enter name(s) and address(es) of Trustee(s), and whether Trustee is a __male/ __female/ __bank/ __trust company/ __corporation, and whether Trustee is going to sign Declaration:

If a Trustee fails to qualify -
__the co-Trustee may act alone 
__the co-Trustee may appoint a new co-Trustee
__another Trustee is to be designated in Declaration  Name(s), etc.:

__a Trustee also is a beneficiary

__OMIT the "decisions of the Trustee conclusive clause"

__Grantor may remove Trustee and appoint successor who is not related or subordinate within the meaning of 26 U.S.C. Sec. 672(c) (see IRS Revenue Ruling 95-58 which allows such removal for irrevocable trusts)
__a majority of beneficiaries may remove Trustee and appoint successor not related or subordinate within the meaning of 26 U.S.C. Sec. 672(c)

__Declaration is be protective of Trustee's rights

__accounts of Trustee may be settled by beneficiaries, rather than judicially [__accounts must be presented for settlement annually, __acceptance by a majority of beneficiaries binds the other beneficiaries]

__commissions of a corporate Trustee are be pursuant to its schedule [charge to: __principal, __income, __principal and income equally, __silent on subject]

__appoint one or more "Trust Directors" with powers to remove Trustees, amend trusts, and take other actions to further assure that the intent of the Grantor is carried out - Name(s) and address(es) of Trust Director(s):  

__appoint one or more "Investment Advisors" powers to manage all investments of trust assets - Name(s) and address(es) of Investment Advisor(s) [__same as Trust Directors]:  

__express directions regarding investments:  

Re survivorship -
__in the event of death in a common accident, the spouse is to be deemed to have survived Grantor (this may reduce the estate taxes to be paid by a couple, if Grantor's assets are large and spouse's assets are modest)
__a person is to be deemed to survive another only if the person survives for a prescribed number of days - __30 days/__other:  

RARELY do you want any of the following -
__make the trust an "intentionally defective grantor trust" so that Grantor pays the income tax
__Trustee may terminate a trust if trust fund is a small amount [__only if principal is less than $          ]
__OMIT the "rule against perpetuities savings clause"
__OMIT the "powers in trust clause" (which gives Trustee broad discretion to hold or distribute property to a minor or incompetent, or a guardian or parent, after termination of a trust)
__provide for "per capita" distributions, rather than "per stirpes" distributions, and/or __include a definition of the method of distribution
__expressly authorize disclaimers
__dispositions of tangible personal property upon the death of Grantor (like a will):  

__require a bond from Trustee
__expressly provide "reasonable" compensation for Trustee
__allocate Trustee commissions between principal and income
__powers re oil, gas and mineral rights
__include no-contest clause
__NEW - a supplemental needs trust for any beneficiary who becomes disabled
__omit spendthrift clause
__rights of Grantor's spouse expressly are to terminate upon divorce
__include a virtual representation clause to reduce the need to appoint a guardian to represent a person under a disability  [__approval by adult beneficiaries is to bind minor beneficiaries]
__expressly relieve banks, as depositories of trust assets, from verify propriety of acts of Trustee
__recommend your firm as attorney for Trustee

__prepare a Memorandum of Trust
__prepare a deed and/or other instruments of transfer

STYLE QUESTIONS -
__the "Declaration of Trust" is to be called some other name [__Trust Agreement  __Trust Indenture  __Trust Deed] 
__use terms other than "in equal shares per stirpes" and "Grantor"
__double spacing
__omit table of contents and titles of article

form of venue:  
STATE OF GEORGIA, COUNTY OF                     , ss.