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It will also require a detailed financial statement, preferably prepared by an accountant or financial expert, and evidence for any assets listed.
Bremer Trust uses a fee schedule based on the value of an estate, and the sliding percentage drops to 0.5% for any assets over $10m.
"We want to see a fair process put in place that assures the independence of T.W.A., the preservation of competition in the market, and full value for any assets that are sold".
Helen Tavroges from law firm Dickinson Dees says you could even make two wills when living abroad - one for any assets in the UK and one covering property and savings where you live.
Another important feature of these trusts is that they can provide protection from capital-gains tax by providing an automatic step-up in cost basis for any assets with which they are funded.
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Despite the sting of hurt feelings, he said that President Bush's order, which calls for the impounding of any assets in the United States, will have little effect.
The market price for any asset is in theory arrived at by buyers and sellers independently forming their own views of the asset's worth, often using competing methodologies to reach their conclusions.
Last fall there was a sense of panic because nobody knew if prices had hit bottom, not just for art but for any asset, and even the richest collectors froze.
In fact, for any asset or investment for which you one day could claim a gain or loss (a home or stock, for example), you need to keep records of how much you paid for the item, the costs of any improvements you made to it and how much you sold it for.
But before accounting for any asset write-downs, bad loans or dividend payout savings, the extra capital would push HSBC's Tier 1 capital ratio close to 10percentt and provide a nice cushion against rising defaults, worsening unemployment and falling economic growth.
Benetton's new four-year plan does not call for any asset sales or radical change in strategy; instead, it focuses on trying to restore luster to the Benetton brand name, which in the 1980's epitomized Italian style and quality.
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