. . . making it easy to develop a personal Estate Plan
Developing a personal Estate Plan can appear to be a daunting task!
Essentially, there are four steps in the process. We support you
with coaching assistance - so you can just about do it yourself!
The first step is to understand what Estate Planning is, how it works and perhaps most important - how this process applies to you.
This video provides easy-to-understand concepts.
For additional info go to Sources.
Next, you need to provide information
about yourself - who you are, who you
want to receive your stuff and any other
specific objectives you may have.
Click HERE to see complete Data Entry
In this step, you retrieve then review your completed documents making sure your personal objectives are clearly stated. Then,
you e-sign all your documents right in your Client Console. This is done using our proprietary E-Sign technology.
Click HERE to see how this is done.
This is the process of assigning your assets into your Trust. This will assure that your ultimate objectives will be met - the efficient and cost effective transfer of your stuff to whom you choose. Additionally, your Client Console provides several other functions.
Click HERE to see how this works.
Revocable Living Trust
This is the "core" document of your plan allowing you to state who is to receive your stuff. Our Trust provides privacy, convenience and control that everyone wants. The cost savings and administrative efficiencies associated with a fully funded Revocable Living Trust are well established undisputed facts.
Durable Powers of Attorney
This document is designed so you can select a person to act on your behalf to make decisions for you if your become incapacitated. The individual or agent you select would then be able to make financial decisions if you cannot.
Last Will & Testament
Should you not place all your assets into your Trust, your Last Will, sometimes called a Pour Over Will, will accomplish this objective. Your Will directs that any assets that are in your name when you die are to transfer to your Trust. This allows you to be sure that ALL your assets will flow through your Trust. Additionally, your Will states your choice of a guardian for any appropriate beneficiary.
Health Care Directives
This document allows you to make multiple health care directives. Examples of directives are: having life support systems removed or allowing for cardiopulmonary resuscitation. Additionally, you can appoint the person who would carry out your requests. And, you have the ability to update your instructions on line at anytime.
When you set up Your Plan you are provided a password protected account in the 'cloud' - your Client Console. This account is complementary for ninety days providing a number of benefits:
♦ E-Sign Dynamics - You Sign ALL Your Documents On Line
♦ 24/7 On Line Document Access
♦ Emergency Physician Access to Health Care Docs
♦ Trustee Access to Trust Documents
♦ Personal PostScript & Medical Alert Page
♦ Unlimited FREE Document Changes
♦ E-Vault Document Repository
People in Your Plan
Typically, your Beneficiary is the individual who receives your assets. Other people in your plan include the Estate Administrator, the one who makes financial decisions if you are not able and the one who follows your instructions concerning your assets after you die. Additionally, you need to chose someone to make medical choices if you can not. Adult children or other family members are usually chosen for these positions.
Sometimes individuals or couples have situations and objectives
that require special attention when developing their Estate Plan.
Review these examples to see if any apply to your personal circumstances.
If any apply to you, click on the button - Select an 'Other Option' - below.
If, at sometime in the past, you did a Revocable Living Trust you can ‘re-state’ your Trust. This is updating everything to account for current objectives. Restating allows you to keep your original Trust date so you do not need to re-fund your Trust.
If you or your spouse have been married before consideration needs to be given to children from a previous marriage. Simple steps can be taken to assure that these children will not inadvertently be disinherited
Assets can be distributed directly to a beneficiary or paid to a beneficiary at different ages. Assets may also be held in Trust for the beneficiary. This protects the assets from creditors, divorce, etc. Click HERE for more info.
In most cases assets are distributed to each beneficiary on an ‘equal’ basis. Sometimes, for a variety of reasons, a beneficiary needs to receive an unequal share of the assets. Or, a specific monetary asset is to be given to a specific beneficiary.
Many people consider giving to a favorite charity, but they don't. One reason for this is because they also want to provide for their children too. What to do . . . This is a creative way to do both! Click HERE for more info.
Many times individuals who have accumulated good size IRAs want to make sure the IRA proceeds will continue safely to one or more of their beneficiaries. Having IRA assets ‘flow through’ their Trust can assure these objectives. Click HERE
If you have pets and you care about their welfare should they survive you, the Pet Trust provides a way to address those concerns. You can appoint a Pet Caretaker, provide for the funding for your Pets and prescribe pet care guidelines.
Certain assets may be protected from a ‘spend down’ to qualify for Medicaid payments typically for a nursing home stay. The Medicaid Trust is a sub-trust for this purpose. Click HERE for a basic explanation of how this process works.
Universal Guardian Trust
When a beneficiary needs to have a guardian for his lifetime, it is necessary to appoint a future guardian to carry out parental wishes of their children, including children with mild disabilities or even “special needs” children. Click HERE.
♦ Click on the 'Schedule an Appointment' Button Below
Set up a 15 minute appointment and get all your questions answered. Or, a 1 hour session to develop up your personal Estate Plan.
Estate Planning is very often much more of a “process” rather than a one-time “event” which many mistakenly view it as at the time the plan is implemented. It should never be considered that way. Yogi Berra coined it well when he said “Predictions are difficult – especially about the future.”
Planning is Normally Long Term
I don’t know what an average “life span” of an estate plan would be, but my guess is that it is somewhere between 15-20 years. Think of all the changes in a family, or conditions that can affect a family, and also consider the cultural/societal/governmental deviations that can occur during the “life span” of an estate plan. So, the ability of the plan creator to conveniently (and freely) make changes as he wishes from time to time, and at any time, is to me very important. Our MLCP platform powerfully addresses the important ability-to-make-changes dynamic for the end-user and puts the control in his own hands.
Lack of Knowledge
Another widespread problem common with estate planning is significant confusion on the part of plan creators. Think about it; Ma & Pa head over the estate planning attorney’s office to talk about something they know little about. And, they’re going to pay to get “educated.” Once they’ve walked out the office door with documents in hand, they are probably already thinking that they hope they don’t have to go back there again. But, it’s safe to say that most of them need to… but really don’t want to. As a consequence, many changes that should have been made don’t get made. (Just today, I was contacted by a married couple in Tennessee that did a trust with ITS back in 2007. They needed several updates. During our conversation, I showed them the Client Console. They were VERY pleased to have the functionality of the Client Console and then mentioned to me that they wanted to make a successor trustee change.) So, our processing platform enables end-users to stay connected with the “moving targets” of their estate plan aims.
We all know that funding a trust can be a difficult and time consuming process. We did a plan about a year ago that needed what ended up to be about 36 realty deed drafts. They still haven’t sent in all of the deed requests yet. Conventional trust-funding procedures can be painful, time consuming, and expensive. Not only is it an issue to fund the trust at the beginning, but trust funding can be an ongoing process because of the acquisition of new assets, changes or repositioning with vendor institutions, etc. Our MLCP Funding Kit address that severely disconnected process and changes into what was once a difficult and often times lengthy procedure into a pleasant experience.
Estate Settlement Uncertainties
Without question, the vast majority of successor trustees end up contacting their advisor, or ITS, or an attorney when it comes time for the estate settlement process. Most originating clients don’t think about that, or don’t want to think about it, but estate settlements are an important and entirely necessary component of planning. It should be “planned for” the same as determining what the trust needs to decree and mandate. The terms of the trust can be meaningless if the estate settlement process is not properly handled. The MLCP data and document storage, Funding Kit applications, Trustee Login portal etc. help to greatly aid the estate settlement processor.
The MLCP platform helps connect all of the dots for the estate planning process because of the:
1. Ease of original-document establishment
2. ESIGN (and MSG document) applications
3. Electronic trust funding WITHOUT the retitling process
4. Ability to make changes at any time in the privacy of home
5. Availability of professional CMS office support
6. Secure/permanent “cloud” storage of docs & funding ledgers
7. Facility to simplify the estate settlement process
These are all components of the estate planning process that, to my knowledge, have never been connected before like the MLCP platform is able to do. In addition, the MLCP platform provides ancillary features such as the (8) My E-vault Center, (9) an HTML platform for Advance Medical Directives creation (and storage), and (10) electronic PostScript Pages for supplementary directives.
I believe we’ve completely eliminated the fragmentation & disconnection associated with the estate planning process and plan goal achievement.
Gary A. Loftsgard, CFP
ITS Alliance Partners, LLC
For over twenty-five years we have made every effort to offer the best document sets for clients of individuals who work in the Financial Services Community. Additionally, we created a National Attorney Network to represent clients. In that period of time we also generated over 17, 000 personalized Estate Plans for couples and individuals.
Today, we are able to provide our services directly to you via the Internet. We have applied our numerous years of experience and the latest technology to create a quality, robust set of Estate Planning documents to fit the needs of just about everybody! Additionally, we can assist you in all stages of processing.