LEGACY PLANNING PROCESS

PLANNING FOR

TODAY AND TOMORROW

IN 4 SIMPLE STEPS

STEP 1

Pre-Appointment

STEP 2

1st Appointment

STEP 3

2nd Appointment

STEP 4

3rd Appointment

STEP 1

Pre-Appointment - Input all personal information

Important: please remember once you start you have to finish until the end, or you will loose all your information.

Please confirm that this information is correct, if not please update it and hit NEXT.

Spouse Data

Children Data

Children Data

Children Data

Children Data

Guardians for Minor Children

Who takes care of my minor children? If you have children under the age of 18, you need to decide who will get custody of your minor children if you and your spouse unexpectedly pass away.

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You can choose an individual or a couple. If you choose a couple (e.g. a brother and a sister-in-law), and one of them dies (e.g. brother), the remaining spouse (e.g. sister-in-law) will act alone. If that is not what you want, consider choosing just the brother.

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It is always a good idea to name an alternate guardian(s) for minor children in case the first choice is unable to fill that role.

If you are divorced and share custody with your child's biological parent, the biological parent will generally get full custody (even if your documents state otherwise).

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PLEASE NOTE: The Successor Trustee you choose will be in charge of the finances for your minor children.

Other than your spouse, list the 1st person you would most likely designate as a Guardian for your minor children.

Other than your spouse, list the 2nd person you would most likely designate as a Guardian for your minor children.

Successor Trustees

Who will manage my money when I die? You will need to name a Successor Trustee (for a Trust) or an Executor (for a will) that will handle the business affairs and distribution of the estate after you and your spouse pass away. This can be one or more persons and is usually a trusted family member or friend.

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Who should I choose? It is common to choose a trusted family member or friend. You could choose your parents, adult children (over the age of 18), a sibling, a close friend, or even a bank. There are also Trust companies that you can hire to act as your money manager.

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What will my Successor Trustee or Executor do? After you and your spouse have passed away, the Successor Trustee (or Executor) locates your estate planning documents. They file an inventory and appraisal of the property. They pay any creditors, taxes, fees, and final expenses. Once they have completed all the appropriate steps, they distribute assets to your designated beneficiaries. Before selecting a Successor Trustee, the responsibilities should be discussed with the individual or couple to see if they are willing and able to perform these duties. It is also a good idea to name an alternate Successor Trustee if the first choice is unable to serve.

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Where does my money go? In a Trust or Will, the beneficiaries (sometimes called devisees) are typically the people and/or organizations you leave your assets to.

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What are my options and how many people can I choose? Most people have a pretty good idea of who their direct beneficiaries will be. Beneficiaries may be children, grandchildren, other family members, friends, charities, organizations, etc. You will be able to select if you want your assets to be distributed equally or based on a certain percentage. You can also specify if you would like your assets distributed to your children at certain ages, etc.

Other than your spouse, list the 1st person you would likely designate as a Successor Trustee.

Other than your spouse, list the 2nd person you would likely designate as a Successor Trustee.

Agents for Your Financial Power of Attorney

Who makes financial decisions for myself if I am incapacitated? A Financial Power of Attorney is a document that allows someone else to make legal or financial decisions in the event you become incapacitated. The appointed agent is called the attorney-in-fact (no, it doesn't have to be an actual attorney), and they can be any competent person who is at least 18 years old. If you are married, this person is usually your spouse first, then a trusted family member or friend as the alternate. The Financial Power of Attorney becomes effective when two unrelated physicians have certified in writing that you are unable to manage your own legal or financial affairs. PLEASE NOTE: The Financial Power of Attorney doesn't work after you die.

Other than your spouse, list the 1st person you would likely designate as an Agent for your Financial Power of Attorney.

Other than your spouse, list the 2nd person you would likely designate as an Agent for your Financial Power of Attorney.

Agents for Your Medical Power of Attorney

Who makes medical decisions for myself if I am incapacitated? A Medical Power of Attorney is a document that allows someone else to make medical decisions in the event you become incapacitated. This person can be any competent person who is at least 18 years old and not providing paid health care to you. If you are married, this person is usually your spouse first, then a trusted family member or friend as the alternate. The Health Care Directive becomes effective when you are unable to communicate due to any illness or injury. PLEASE NOTE: The Medical Power of Attorney doesn't work after you die.

Other than your spouse, list only ONE person you would likely designate as an Agent for your Medical Power of Attorney.

Agents for Spouse Financial Power of Attorney

Who makes financial decisions for myself if I am incapacitated? A Financial Power of Attorney is a document that allows someone else to make legal or financial decisions in the event you become incapacitated. The appointed agent is called the attorney-in-fact (no, it doesn't have to be an actual attorney), and they can be any competent person who is at least 18 years old. If you are married, this person is usually your spouse first, then a trusted family member or friend as the alternate. The Financial Power of Attorney becomes effective when two unrelated physicians have certified in writing that you are unable to manage your own legal or financial affairs. PLEASE NOTE: The Financial Power of Attorney doesn't work after you die.

Other than your spouse, list the 1st person you would likely designate as an Agent for your Financial Power of Attorney.

Other than your spouse, list the 2nd person you would likely designate as an Agent for your Financial Power of Attorney.

Agents for Spouse Medical Power of Attorney

Who makes medical decisions for myself if I am incapacitated? A Medical Power of Attorney is a document that allows someone else to make medical decisions in the event you become incapacitated. This person can be any competent person who is at least 18 years old and not providing paid health care to you. If you are married, this person is usually your spouse first, then a trusted family member or friend as the alternate. The Health Care Directive becomes effective when you are unable to communicate due to any illness or injury. PLEASE NOTE: The Medical Power of Attorney doesn't work after you die.

Other than your spouse, list only ONE person you would likely designate as an Agent for your Medical Power of Attorney.

Assets & Liabilities

Real Estate – Primary Residence, Rental, Condo, Cabin, Land, etc.

Assets & Liabilities

Real Estate – Primary Residence, Rental, Condo, Cabin, Land, etc.

Assets & Liabiliies

Titled Property – Cars, Boats, Trailers, Motorcycles, ATV’s, etc.

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Assets & Liabilities

Titled Property – Cars, Boats, Trailers, Motorcycles, ATV’s, etc.

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Assets & Liabilities

Titled Property – Cars, Boats, Trailers, Motorcycles, ATV’s, etc.

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Assets & Liabilities

Debts - Mortgage, HELOC, Auto Loans, Student Loans, Credit Cards, etc.

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Assets & Liabilities

Debts - Mortgage, HELOC, Auto Loans, Student Loans, Credit Cards, etc.

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Assets & Liabilities

Debts - Mortgage, HELOC, Auto Loans, Student Loans, Credit Cards, etc.

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Assets & Liabilities

Bank and Credit Union Accounts - Checking, Savings, CD, Money Markets, etc.

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Assets & Liabilities

Bank and Credit Union Accounts - Checking, Savings, CD, Money Markets, etc.

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Assets & Liabilities

Bank and Credit Union Accounts - Checking, Savings, CD, Money Markets, etc.

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Assets & Liabilities

Investment Accounts – IRA, 401k, 403b, 457, TSP, Annuities, Stocks, Bonds, Mutual Funds, etc.

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Assets & Liabilities

Investment Accounts – IRA, 401k, 403b, 457, TSP, Annuities, Stocks, Bonds, Mutual Funds, etc.

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Assets & Liabilities

Investment Accounts – IRA, 401k, 403b, 457, TSP, Annuities, Stocks, Bonds, Mutual Funds, etc.

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Assets & Liabilities

Life Insurance Policies – Term, Whole Life, Universal Life, etc.

Assets & Liabilities

Life Insurance Policies – Term, Whole Life, Universal Life, etc.

Assets & Liabilities

Life Insurance Policies – Term, Whole Life, Universal Life, etc.

Assets & Liabilities

Businesses – LLC, Partnership, S-Corp, C-Corp, etc.

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Assets & Liabilities

Businesses – LLC, Partnership, S-Corp, C-Corp, etc.

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Assets & Liabilities

Businesses – LLC, Partnership, S-Corp, C-Corp, etc.

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Assets & Liabilities

Sources of Income - Employement & Social Security

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Assets & Liabilities

Sources of Income - Pensions & Rental Income

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Assets & Liabilities

Sources of Income - Annuity & Other

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Data Input Authorization

For your 'Trust Name', most clients prefer to use their last name such as "The Hatfield Family Trust" or "The Hatfield/McCoy Family Trust." The trust name you select will be used to legally identify your trust and the assets it contains. You should include the word 'Trust' in your name, and you might want to add a 'The' at the beginning, (the software will NOT add those words if you omit them). Please make sure you are comfortable with your choices because these choices become a permanent part of your Estate Plan Portfolio
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STEP 2

1st Appointment - Planning Interview

Meet with your Legacy Planning Coordinator to complete the interview: Select your beneficiaries, Trustees, Guardians, and make other decisions necessary to create your customized estate plan documents.

Post-Appointment

Collect Statements or Policies for:

  • Auto, Home insurance or Umbrella-Declaration Pages

  • Life Insurance Policies

  • Long-term care Insurance Policies

  • Retirement accounts (most recent statements)

  • Savings (most recent statements)

  • Annuities (most recent statements)

Send copies of statements or policies to LegacyLock 48hrs before 2nd Appointment

STEP 3

2nd Appointment - Sign and Notarize your estate plan documents

Sign and Notarize your estate plan documents -

Your Legacy Planning Coordinator will provide a binder with all your printed documents ready to be signed and notarized. You will need a notary and two witnesses to complete this step.

(Please note that once you execute your Trust, any changes to your Trust after you have signed should be made as a RESTATEMENT).

Funding Trust and Asset Protection & Optimization Discovery -

Review all assets listed on Asset & Liability forms (review titled property, beneficiary forms & tangible property, make updates as needed for funding). Review the following:

  • Real Estate Deeds
  • Auto & Home Insurance-Umbrella Policy
  • Life Insurance
  • Disability or Long-term Care Insurance
  • Retirement Accounts
  • Savings
  • Make recommendations for adjustments if needed via licensed professionals

For additional guidance on funding: Please refer to "Funding KitCode" in your LegacyLock software.

STEP 4

3rd Appointment - Implement Asset Protection and Optimization Strategies

Implement any changes to your assets for better protection and future performance based on your needs and desires. We work with independent advisors and/or licensed insurance agents to optimize your current and future needs.

Upload your documents: We recommend you upload any physically signed or notarized documents to your E-Vault in the software for easy access in an emergency.

Ongoing Support: We are here to help you move forward.

Review your plan annually with your Legacy Planning team!

Make changes to your plan as needed. We recommend you reach out to your Legacy Planning Coordinator for any changes you wish to make to your estate plan documents.

LegacyLock

CORPORATE HEADQUARTERS

1234 S Power Rd. Ste #101

Mesa, AZ 85206

www.MyLegacyLock.com