| Cash and savings |
Total you have in cash, checking
accounts, savings accounts or other accounts that can be used
to help cover expenses |
| Home equity |
Total amount of equity in your
home that you are willing to use toward your living expenses
|
| Investments |
Total value of all investments
that you are willing to use toward your living expenses |
| Other |
Any other assets that you may
be willing to sell or liquidate |
| Estate or inheritance taxes
on assets |
Percent taxes that are required
to be paid on total assets |
| Probate costs |
Probate costs cover a states
legal fees for disbursing the assets of the deceased. You
may incur significant probate costs, depending on your state
of residence, even if you have a will. |
| Funeral costs |
All costs required to cover
the cost of the funeral |
| Uninsured medical costs |
Any medical costs that are
not covered by your medical insurance. Make sure to include
any deductibles |
| Debt repayment |
Credit card debt, auto loans,
home equity loans, mortgages or other debt that you wish to
repay. Providing the ability to repay these loans if you were
to die can significantly help your family meet its monthly
living expenses |
| College fund for children |
Amounts you wish to provide
your surviving children to cover future college expenses |
| Spouse income from work |
Income expected from your spouse
after your death. If your spouse needs education or retraining,
make user that the starting year for this income provides
adequate time to complete |
| Social security survivor
benefits |
Depending on your work history,
your family may qualify for social security benefits. |
| Living expenses with children
at home |
Total monthly expenses while
your children are living at home. This should include all
monthly expenses except child care |
| Living expenses with children
gone |
Total monthly expenses after
your children have left home. This should include all monthly
expenses |
| Children's college expenses |
Monthly expenses for your children's
college expenses. If your children have not yet entered college,
leave this amount at zero and enter an amount in the college
fund entry fields in the total expenses at death section |
| Retraining and education
for spouse |
Monthly expenses expected to
cover any cost of education or retraining for your spouse
to re-enter the workforce |
| Other expenses |
Any other monthly expenses
not included above |
| Combined federal and state
tax rate |
This is your effective tax
rate. To calculate this rate take your total income for last
year divided by your total federal and state taxes paid |
