Guide for the Successful Trustee: A Gift for the Heirs

By R.D. Kristine S.

WHO SHOULD OWN THE GUIDE?

IF you are named on your own, parents, relatives, friends or neighbors estate plan as a trustee, you will need to know your responsibilities and have the system to successfully address the trust placed in you.

IF you are establishing an estate plan with an independent third party, bank or corporate trustee, you will want to use the guides, Notify-Respond-Verify system. Make sure they get it correct.

IF you are a parent or grandparent, what gift could be more important or useful than a well drafted estate plan and a system to make it work? Give your heirs the tools they can use to make the plan a success.

WHO SHOULD GIVE THE GUIDE?

IF you are an estate planning attorney you realize your clients need a system for transferring and tracking their assets. This is it. The Guide for the Successful Trustee.

IF you are an accountant do your clients have their assets properly titled? Use the Guide to get the proper registration and use the system to keep it that way. Thousands of dollars in unnecessary taxes and fees are generated by incorrect registrations.

IF you are a financial advisor, have your peers and predecessors titled all of their clients past investments properly? What is your liability to clients on past transactions and current estate plans? Meet with the client and family go over the three phases of estate planning. Illustrate the phases and the differences between the three. The Guide for the Successful Trustee has the system to make it simple and successful.

• Language: English
• Publisher: Balboa Press
• Release date: Apr 28, 2012
• ISBN: 9781452555218

R.D. Kristine S.

A veteran of years in the financial services industry, Mr. Finley has specialized in the creation, management, and distribution of a wide variety of trusts. He has focused his practice on the use of charitable trust strategies to help clients achieve their financial goals. He has been advisor to a number of nonprofit organizations, working with their donors creating win-win situations.

Book preview

Copyright © Richard D. Finley 2012

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews.

ISBN: 978-1-4525-4681-0 (sc)

ISBN: 978-1-4525-5521-8 (eBook)

Library of Congress Control Number: 2012905864

Balboa Press books may be ordered through booksellers or by contacting:

Balboa Press

A Division of Hay House

1663 Liberty Drive

Bloomington, IN47403

www. balboapress.com

1-[phone]

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

The information, ideas, and suggestions in this book are not intended to render professional advice. Before following any suggestions contained in this book, you should consult your personal accountant or other financial advisor. Neither the author nor the publisher shall be liable or responsible for any loss or damage allegedly arising as a consequence of your use or application of any information or suggestions in this book.

Any people depicted in stock imagery provided by Thinkstock are models, and

such images are being used for illustrative purposes only.

Certain stock imagery © Thinkstock.

Balboa Press rev. date:4/12/2012

9781452546810_txt.pdf

Contents

Overview

Preface

The Guide for the Successful Trustee-How it Works

Section 1-Creation of Estate Plan

Section 1-Notes:

Section 2-Transition of Estate Plan

Section 2-Notes:

Section 3-Settlement of Estate Plan

Section 3-Notes

Hand Filled Instructions, Letters and Logs

Section 1-Data Collection-Trust Definitions and Information Instructions

Trust Information

Asset/Contact Listing

Correspondence Tracking Log

Financial Organization Notification

Directory Listing for Financial Institutions

Change of Beneficiary Form Request (Retirement Plan)

Change of Beneficiary Form Request (Life Insurance Policy)

Change of Beneficiary Form Request (Non-Life Insurance Policy)

Section 2-Data Collection-Trust Definitions and Information Instructions

Data Collection-Trust Information

Asset/Contact Listing

Section 2-Letters

Authorization to Financial Institution

Letter to Institutions to Discontinue or Modify Benefits

Notification to Service Providers

Notification of Beneficiaries

Directory Listing for Organizations/Contacts

Section 3-Data Collection-Trust Information

Trust Data Collection Form

Contact Information

Asset/Contact Listing Form

Section 3-Letters

Letter to Financial Organizations

Letter to Institutions to Discontinue or Modify Benefits

Notification to Service Providers

Getting Started With The Guide for the Successful Trustee

Glossary

Overview

Section 1—Creation of Estate Plan—A well designed trust strategy is a powerful tax reduction and estate transfer tool. Section 1 of The Guide provides you with the documents needed to successfully transfer your assets to your new trust.

Section 2-Transition of Estate