Life Plan™ vs. Death Plan
Most of the Trust Documents that we review are “Death Plans.” They are designed to solve problems that ordinarily occur at death: Avoiding Probate, Minimizing Estate Taxes and Distributing the Estate. And while all of these problems are significant, they are only the beginning.
Yet in many situations, the documents stop there.
The most important part of our plan focuses on how the documents work while you and/or your beneficiaries are alive. The provisions and documents in your Plan that address these issues are referred to as the Life Plan.
There are two parts to the “Life Plan:” the “Pre-Death Plan” and the “Post Death Plan.” The Pre-Death Plan includes provisions and documents that address “disability issues,” “proxy documents,” and “asset protection provisions” for the benefit of the Trustors. The “Post-Death Plan” includes provisions that address assets protection provisions for the life of the children as well as for life of the grandchildren.
Most of the Trust documents that we review do not adequately address either the “Pre-Death Plan” or the “Post-Death Plan.” Many documents don’t address these issues at all.
Maintaining Your Life Plan
Your documents will become outdated over time. We have developed a system to keep your documents current.
Our trademarked process, the Life Plan,™ exceeds the scope of a typical living trust. It ensures that no detail is overlooked and that you, your family and your estate are protected today and tomorrow.
How It Works
Creating Your Trust
First, we review your existing documents to determine what provisions and / or documents are missing. Then we rewrite or update your plan to incorporate the missing pieces.
After the documents have been completed, we send you a summary of the details of your plan. Upon your approval, the documents are delivered to you for review before you sign them.
Funding Your Trust
After the documents have been signed, we verify that all of your assets are registered correctly. This is a critical step, and if it is not done properly, your estate plan will be little more than a stack of paper.
We’ll also provide you with written instructions that clearly explain how your assets should be registered.
We will also make sure that you and the individuals you designate have easy access to your medical emergency documents in the event of an accident or illness.