Sue wants to change the system to be responsive to the goals of the grantor. Her intention is to educate people about how they can choose a model of trust that works with their family and assets. Her services will enable you to establish a map that will establish a "smart trust" which links your goals to directives defining your standards of performance allocated in the manner you desire.
Products/Services include but are not limited to:
- Deciding Which Trust is Best
There are certain tax benefits to some forms of trust and no tax benefits from others. Which one fits your family? Order the Chapter Which Trust is Best and learn the difference so you can make the right choices.
- The Perpetual Trust
Do you want to control your assets forever and never pay estate tax? Sounds good, but you could lose all you have saved in this type of trust. Order the chapter - The Perpetual Trust, to decide whether this form of trust works for you.
- What to do When Someone Dies
We don't think straight when our loved ones die. Order the chapter - What to Do when Someone Dies, and learn how to protect your families estate and assets in a time of crisis.
- The Living Will
What would you do if you could not speak for yourself? What if decisions were being made for you without your knowledge or consent? Order the chapter - The Living Will, which explains what it is, how to use it, and why it is essential to your family plan.
- Letters of Instruction
How will your trustee interpret your directives? What does "provide for the health, education, and welfare of my family" really mean? Make sure these vague and ambiguous terms mean what you intend. Order templates where you define the terms around the members of your family and assets.
Template 1: "Health" defined for your beneficiaries and yourself and how this term is interpreted in your trust. Will the trust pay for health insurance? Will the trust pay for only emergency health needs? What about paying for your own care when you are old?
Template 2: "Education "defined for your children and family. Does it include room and board, private high school or pre-school tuition, trade school, tutoring, extra-curricular activities, travel, etc.? You decide and set the boundaries for payment from your trust.
Template 3: "Welfare" defined by you. Does welfare include the trust paying for housing, food, medical, entertainment, travel, transportation, etc.? Or, do you define when benefits kick in.
Template 4: "Maintenance and/or support" will be established by you. Will the trust pay for support if your spouse remarries? How much support will come from the trust and how much is to be earned by the beneficiary? Are boundaries set so the trustee knows what constitutes support and maintenance that you approve?
Template 5: "Priority" is established by you. When you have beneficiaries, e.g. your spouse and your children competing for the same benefit, who wins? Or if your children want the same item, what do you do?
Template 6: "Investment" parameters are set by you. Will the funds be there when they are needed or will your funds and assets be consumed in fees, poor investments, and by administrators, lawyers, accountants, appraisers, auctioneers, courts, etc. Establish an investment model that sets boundaries around investment decisions.
Template 7: "Accounting" will be required. Will you let your trustee off the hook for accounting to your children or heirs or will you require accountings on a regular basis so funds are not lost. Answer questions about what you expect to be reported to your heirs and where their money goes.
Template 8: "Fees" will be set in accordance with accepted standards. Hidden fees will not be allowed and standards will be set for payment of fees from the trust.
- Protecting your values—money, health, education, welfare, religion, relationships, spouses, children, bloodline, etc.
- Estate planning—when to begin and five events that trigger planning.
- Beneficiaries—essential factors for setting standards and protecting each beneficiary.
- Insurance planning & trusts—how to divide your assets.
- Living trusts and wills—setting up your trust and will.
- Power of attorney—how to protect yourself in times of emergency.
- Fiduciary—rules and roles. What are your choices and what questions to ask your professional fiduciary.