The Need for Trust Compilations – Organizing Planning for Clients

Organizing documents as a “binder” or checklist can be used to identify ways to backstop, refine, and administer the client’s estate and trust plans and could be reviewed and, as necessary, updated at each annual meeting or even more frequently as circumstances demand. The term ‘binder’ is in quotation marks since the binder doesn’t end at the closing as a traditional real estate or corporate closing binder would, and in most instances, will be electronic and no longer a physical binder (absent a specific client request). Given the complexity of many plans, practitioners might find this a useful tool in planning, creating, implementing, and maintaining those plans.

Read Here