Broker Check

Estate Planning Document Review

It may be time to review your estate plan


One of the services that Planned Solutions offers is reviewing and summarizing our client’s estate planning documents to make sure that they reflect their wishes. When we conduct these reviews we pay special attention to several major issues. These include:

Who is named as the successor trustee of the trust and/or executor of the will? This is an important consideration because this person will have the difficult job of looking after your interests should you become incapacitated and/or settling the trust or estate when you die.

What determines incapacity? This may be a letter from one, or multiple, doctors or it may require that the court get involved. It is important that you and your successor trustee / executor  are  comfortable with the requirements of this provision.

Does the trust require that it be split into two trusts at the death of the first spouse or are all of the assets transferred to the surviving spouse? This provision can have pros and cons which you should be aware of so that you can make an informed decision about what is best for you and your heirs.

What powers are given to the trustee? If these powers are overly broad or overly restrictive it can create problems during the trust / estate administration.

Are the beneficiaries listed correctly? There is legal language which can determine how your assets will be divided should a beneficiary predecease you or choose to contest your trust or will.    

If you would like us to review your estate plan, feel free to give us a call.