At CCM, our advisors prioritize providing personalized recommendations specific to your situation. A periodic review of your estate plan documents is a prudent step in ensuring your documented plans align with your values, intentions, and goals. 

Getting to Know Your Estate Documents 

In our initial review of your estate documents, or in our periodic reviews during the life of our partnership, we consider and prompt many questions. We encourage all clients to consider these questions as they relate to their current estate plan, ensuring that they have considered, and that they understand, the importance of these key facets. 

• Who are your trustees and successor trustees? 

• In what circumstances do your successor trustees step in? What details are spelled out in your plan regarding the successor trustee’s role in the event of your incapacity or death? 

• What happens upon the death of the first spouse? What will the situation be for a surviving spouse? Does your plan protect them from “creditors and predators”? 

• Are there minor or adult children? Are assets held for them in trust, and are these arrangements still appropriate? Are there children or grandchildren with special needs that should be considered? 

• Do you have a blended family? Do your documents and your spouse’s documents reflect your more complicated situation? 

• If you’d like to designate more for charity, does your plan make that efficient?    

• Is there a need for estate tax planning? Conversely, is there no longer a need for estate tax planning? This could occur due to the increase in exemption amounts or if the size of your estate has decreased in your life’s drawdown phase. When we see an opportunity for simplification, we’ll bring this to your attention.  

• For very high-net-worth individuals, do your documents plan for the generation-skipping transfer tax (GSTT)? 

• What state is the situs of the trust, and does it match the state you currently reside in? 

 Your Advice Team welcomes the opportunity to step through these questions with you, reviewing your existing documents to accomplish alignment. In addition to these questions, we also look for minor issues that might have a big impact, such as typos or unsigned documents. These issues occur more than you may think! 

Making It Manageable 

While this is not an exhaustive list, it can give you an idea of what it means to have estate planning integrated with your financial advisory services. We recognize that these discussions can feel fraught, and it’s not uncommon for clients to feel indecisive or torn between options. In these situations, we’ll work with you to simplify matters as much as possible. By thinking just three to five years ahead—and not trying to arrive at a decision that will be perfect in perpetuity—we can help keep your estate plan in sync with your real life. Our ongoing partnership means that when the next change comes along, we’ll be there to support work with your estate attorney to make sure it’s reflected in your will and/or trust documents.