Trust and Will Moduleadmin2019-09-15T14:56:00+00:00
Trust and Will templates for Single, Married and “Non-Traditional” Clients:
All documents are state specific based on the state of residence of the client; the one program has different templates which cover 49 states plus the District of Columbia (sorry Louisiana).
Living Trusts (including Restated Amendments)
Version for Single Clients includes:
– Spousal distribution provisions (including 2011 compliant trust options) if client is married- Option for a Co-Trustee with client
Versions for Married Clients include:
– Joint Trust or Reciprocal Trusts- Simple, probate avoidance Trust- Disclaimer Trust- Modified “A/B” Trust- “Intentionally defective” Marital Deduction Trust (new)- “QTIP” Trust (either pecuniary or fractional share)- “QTIP” Trust with “Clayton Election”- All trusts have option for only one spouse to be the Trustee- QDOT provisions for a non-citizen spouse- State QTIP option for states with a separate estate tax
Versions for Non-Traditional Couples include:
– Joint Trust or Reciprocal Trusts- “A/B” Trust (no marital deduction language)- Simple, probate avoidance Trust- All trusts have option for only one party to be the Trustee
Specific Distribution Provisions include:
– Gifts of Specific Sums (individual or class gift)- Gifts of a Percentage (individual or class gift)- Gifts of Specific Assets- Gifts of Real Property- Option to Purchase Real Property- Life Interest in Real Property- Life Interest in Cash or Percentage- Gift of Business Interest- Forgiveness of Debt- “Special Needs” Trust- “Pet Trust”- Charitable Foundation
Residual Distribution Provisions include:
– “Per Stirpes” with Trusts for Grandchildren- Unequal Allocations between Beneficiaries- Delay Trust for Children (by age or years)- “Family Pot” Trusts- Generation-Skipping Trusts (simple, GST and “Dynasty”)
Specific Trustee Powers include:
– “Qualified Sub-S Trusts”- “Qualified NFA Trust”
Certificate of Trust
Declaration of Trust
Assignment of Personal Effects
Marital Property Agreement (for married clients)*
General Powers of Attorney (including “springing powers”)
Limited Powers of Attorney
Health Care Directives and/or “Living Will” (HIPAA compliant)
Stand-alone Wills (simple and with testamentary trusts)
Complete Summary of each paragraph in the living trust and of each document in the trust package
Summary sheet of Fiduciaries
Client Information Sheet
Client Correspondence (all incorporating your letterhead)
– Representation Letter (fee confirmation)- Transmittal Letters (draft or originals)- Sign and Return Letter- “FYI” Letter- Trust or Will Instruction Letter (“closing letter”)- Trust Funding Instructions- “CYA” letters for funding and holding original documents- Conflict Waiver for married clients
Miscellaneous Trust Documents
– IRA Benficiary Trusts with corresponding Beneficiary Designation form- Revocation of Trust- Appointment of a Co-Trustee- Resignation of Trustee- Removal of a Trustee [both uncontested and by Court petition]- Exercise of Limited Power of Appointment- Revocation of Power of Attorney
– Deeds for real property (including fee simple, partial interests, joint interests and mineral rights)- Letters of Instruction for re-titling to banks, transfer agents, brokerage firms, mutual funds, etc.- Assignments of Deeds of Trust, limited and general partnership interests, LLC’s, business interests, etc.- Requests for change of beneficiary designations for life insurance, annuities, retirement benefits, etc.- Affidavits of death- Opinion letters- Other necessary documents
Checklists and Worksheets (keyed to the program)
* Community Property states only
Does not require extensive estate planning background (particularly for a single client).
Completely state specific; single program allows the production of state specific documents for all states (except Louisiana) and Washington, DC, based on the state of residence of the client.
Program allows different attorneys/support staff to prepare documents for same client using common answer file.
Option to use “Settlor” or “Trustor”.
Option to use “familiar” or “traditional” language (i.e., “I” or “My” vs. “Settlor” or “Settlor’s”).
Option to use an “unitrust” distribution or the traditional “net income” for interests held in trust.
Includes all necessary transfer documents.
All templates are “keyed” to same variable language; input data only one time.
Fully formatted documents automatically sent to Microsoft Word for final review, editing and printing.
Fully context sensitive dialogs; answer only the questions needed (based on your responses to the previous questions).
Default answers are set to your specifics (e.g., state, county, etc.).
Templates can be edited to utilize your preferred language (requires upgraded HotDocs).
The price is a one-time charge; unlike our major competitors, we do not re-charge you each year for the software (to see a current Pricing Analysis of the major “complete” estate planning software, please click on the following link: Pricing Analysis).
One year free updates and revisions to templates (subsequent update subscription only $250/year).