Estate Worksheets


Estate Worksheets provides the ability to enter some of the Estate planning-specific information like Gifting, Immediate expenses and probate fees into the plan. Information entered in all other worksheets is also accounted for when looking at various Estate planning scenarios and projections.

You may click on the Add button at the top of the Current Gifts section to add any current and future taxable gifts, charitable gifts or gifts qualified for exclusion.


Current Gifts Details screen

The system allows for the specification of projected one time gifts or gifts that will continue over a number of years. Selecting the Gift Type will define taxation rules that will be applied to the current gift.


When Taxable is selected as the Gift Type, all gifts will be taken from the Donor’s after tax income.


Exclusion option represents any gift that will be using the Annual Gift Tax Exclusion IRS rule where gifts are excluded from tax up to a specified maximum annual gift limit for that year.

Taxable and Exclusion option allows splitting the gift into a Taxable and a Tax Exclusion portion such that only portion of the gift is taxable in the given year and the remainder is not taxed in compliance with the Annual Gift Tax Exclusion rule.

Charitable option is also available. Charitable gift are not taxed.

Using Start Age and End Age you may specify for the gift to start at a certain Donor’s age. To specify a one-time gift, set the desired start age and end age to the same value.


Prior Gifts Section

Any gifts made in the past can be entered in this section. Specifying amount of Total Taxable gifts made and the Federal Gift Tax paid for those gifts will adjust the calculation of the total estate tax exemption.


Fees & Expenses Section

This section contains similar information as in the Insurance Worksheet with total liabilities to be paid off at death, final expenses, emergency funds and any other miscellaneous expenses in case of death. Changes to these inputs will be automatically reflected in the Insurance Worksheet.


*In addition to immediate needs, you may specify a Probate Fee calculated as a percent of Taxable Estate. You will see the total of these expenses and fees reflected in the Estate module results screens.
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