Estate Planning

Worksheet: What's Your Estate Worth?

The major difference between your net worth when you are alive and your net worth when you die is the amount of the proceeds from life insurance you own. Since life insurance does not get paid until you die, you need to add the total proceeds from your life insurance to your net worth to determine what your estate is worth.

Determine what your estate is worth:

1.

Place your Net Worth amount here (see calculation below).

$ ________________________

 2.

If you included life insurance cash value in your net worth amount, enter this number here (with some exceptions for Universal Life insurance).

$ ________________________

 3.

Subtract line 2 from line 1.

$ ________________________

 4.

Add up proceeds you will receive from all of your life insurance:*

 

 

(a) Company-provided group life insurance

$ ________________________

 

(b) Term life insurance outside of work

$ ________________________

 

(c) All other life insurance

$ ________________________

 5.

Total: add lines 4(a), 4(b) and 4(c).

$ ________________________

 6.

What's Your Estate Worth?
Add lines 3 and 5.

$ ________________________

 

* Payable to your estate or in which you possess ownership benefits (e.g., the right to name beneficiaries of the policies).

 

 

Write the number from line 6 here:

$ ________________________

 

If this number is less than the applicable exclusion amount ($11.4 million in 2019 and $11.18 million in 2018), you may not be subject to the Estate Tax.

 

 

If this number is greater than the applicable exclusion amount ($11.4 million in 2019 and $11.18 million in 2018), you may be subject to the Estate Tax and should read the appropriate sections above for important tax savings planning techniques and consult with an estate planning professional.

 

 

Net Worth Calculation

 

 

Add up everything you own and subtract everything you owe. The amount left is your Net Worth.

 

 1.

Enter all the things you own

$ ________________________

 2.

Enter all the money you owe to others

$ ________________________

 3.

Subtract line 2 from line 1. This is your Net Worth.

$ ________________________



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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Heartland Bank and Heartland Planning Associates are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Heartland Planning Associates, and may also be employees of Heartland Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Heartland Bank and Heartland Planning Associates. Securities and insurance offered through LPL or its affiliates are:

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