The Need for Trust Compilations – Organizing Planning for Clients

The suggestion of this article is that the client’s estate planner prepare, and maintain, a trust closing binder, analogous to closing binders commonly prepared in real estate and corporate transactions. However, unlike the real estate and corporate closing binder, this “binder” would be a checklist and compilation that does more than merely list and organize documents. The trust binder in contrast 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.

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Date: April 24, 2023.