Essential Estate Planning

Essential Estate Planning provides access to a cost-effective drafting system designed for clients of modest wealth.

Wills and Codicils

Document	Short Description
Essential Will	Will with multiple drafting options including: – State-special language – Specific bequests and continuing trusts – Supplemental needs trusts – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Pour-over to Revocable Trust option – Summary
Codicil	Document used for minor changes to an existing Will

Document	Short Description
Essential Revocable Trust	Single-grantor living trust with multiple drafting options, including: – State-specific language – Specific bequests and continuing trusts – Supplemental needs trust – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Summary
Essential Joint Revocable Trust	Dual-grantor trust for spouses/partners with multiple drafting options, including: – State-specific language – Specific bequests and continuing trusts – Supplemental needs trust – Trusts for retirement assets – Disclaimer and Clayton QTIP options – Formula Credit Shelter Trust (federal or state) – Summary

Document	Short Description
Essential Irrevocable Trust	Single-grantor irrevocable trust with multiple drafting options, including: – Crummey powers for lifetime gifting Spousal access (SLAT) – Life insurance ownership provisions (ILIT) – Grantor trust powers (IDGT) – Continuing trusts for spouse/descendants – Contingent marital deduction trust – Supplemental needs trusts – Summary
Essential Joint Irrevocable Trust	Dual-grantor irrevocable trust for spouses with multiple drafting options, including: – Crummey powers for lifetime gifting – Life insurance ownership provisions (ILIT) – Grantor trust powers (IDGT) – Continuing trusts for descendants – Summary

Financial and Health Care Document

Document	Short Description
General Durable Power of Attorney	State-specific document in which client appoints an agent to handle financial matters, including expanded power (”hot power”) options
Health Care Power of Attorney/Advance Directive	State-specific document in which client appoints a health-care agent and states medical treatment wishes.
HIPAA Authorization	Permits release of protected health information to named persons.
Living Will	State-specific document in which client appoints a health-care agent and states medical treatment wishes.
Guardian Designation Forms	State-specific designation of preferred guardians for minor children or for the client in the event of future need. Guardians for minor children can also be named in Wills and Revocable Trusts.
Remains Agent Forms	State-specific document in which client appoints agent to control final disposition of bodily remains. Available in specific states.
Anatomical Gift Forms	State-specific document authorizing donation of organs or body for transplant or research. Available in Florida currently; in other states this topic is covered in the Health Care Power of Attorney
Retirement Benefit Forms	Automated beneficiary designation forms, clauses, and letters based on the sample forms and provisions included in Appendix B of Natalie Choate’s Life and Death Planning for Retirement Benefits

Trust Administrative Documents

Document	Short Description
Trust Certificate	A certificate confirming the existing of a trust, identity of the trustees, and trustee powers.
Trust Amendment	A document that modifies specific provisions of an existing revocable trust.
Promissory Note	A document that is a formal evidence of a loan between related parties, including a trust.

Marital Agreements

Document	Short Description
Partition Agreement	Agreement that divides community property into separate property.
Separate Property Agreement	Agreement confirming that assets transferred by one spouse in trust were separate property.
Spousal Agreement and Consent	Consent by one spouse to a transfer of assets by the other in trust and waiving rights to reimbursement.
California Aggregate Theory Agreement	Agreement that allows non-pro-rata division of community property under California law.

Essential Estate Planning enables you to:

Draft documents using a comprehensive selection of tax and a non-tax options that meet the needs of clients who have significant wealth.
Deliver a sophisticated estate plan that can be tailored to meet each client’s specific wealth transfer, and asset protection, goals.
Spend less time drafting and more time with clients.

Want to learn more?

Check out our comparison chart.