A Signed Trust Is the Beginning. Implementation Makes the Plan Real.
Your estate-planning attorney creates the legal framework. Crestline Legacy Partners helps you organize and follow through on the financial and administrative implementation needed after the documents are signed.
From asset organization and attorney-directed trust-funding coordination to beneficiary reviews and ongoing legacy planning, our role is to help keep important implementation responsibilities from falling through the cracks.
Estate planning is more than having documents in a binder.
A trust may establish the legal structure for your estate plan, but the trust generally controls only property that is legally connected to it in the appropriate manner.
That is why implementation matters.
After the signing appointment, clients may still need to work through deeds, account ownership, financial institutions, beneficiary information and other administrative responsibilities based on guidance from their estate-planning attorney.
Without a structured process, important tasks can be postponed, forgotten or left incomplete.
If you already have a trust, do you know whether the implementation is complete?
- Is your real property titled as your attorney intended?
- Have appropriate financial accounts been reviewed?
- Are beneficiary designations coordinated with the overall plan?
- Are there assets acquired after the trust was originally established?
- Are there outstanding instructions from your attorney?
- Would your family know where important information is located?
What does it mean to “fund” a trust?
Funding generally refers to properly connecting appropriate assets to the trust or coordinating them with the estate plan according to legal guidance. The appropriate method depends on the asset and the client's circumstances.
Ownership
Certain assets may need ownership or title changes in order to become trust property. The client's attorney determines the appropriate legal treatment.
Beneficiary Coordination
Some assets pass through beneficiary designations rather than trust ownership. Those designations may need to be reviewed in the context of the broader plan.
Follow-Through
Even when clients receive clear instructions, financial institutions can have different forms, requirements and processing procedures. Follow-through is often where implementation stalls.
From signed documents to organized implementation.
Our role is to provide structure, organization and follow-through while legal questions remain with your estate-planning attorney.
Review
Understand what has been completed and what implementation instructions have been provided.
Organize
Develop an organized inventory of relevant assets, accounts and outstanding information.
Coordinate
Help the client work through appropriate attorney-directed administrative steps.
Escalate
Questions requiring legal or tax judgment are returned to the appropriate professional.
Review Again
Revisit implementation as assets, family circumstances and priorities change.
Structured support for the financial side of your legacy.
Asset Organization
Help create an organized picture of relevant property, accounts and ownership information.
Trust-Funding Coordination
Help clients follow through on administrative funding steps based on instructions from their estate-planning attorney.
Beneficiary Review
Review relevant beneficiary information within Crestline's applicable professional scope and coordinate questions with the appropriate advisor.
Implementation Tracking
Maintain visibility into what has been completed, what is still pending and what requires additional attention.
Professional Coordination
Help coordinate with attorneys, financial institutions and other professionals when appropriate.
Ongoing Legacy Reviews
Revisit the financial implementation of the plan as assets, property and family circumstances change.
Crestline does not replace your estate-planning attorney.
Your attorney is responsible for the legal design and interpretation of your estate plan.
Crestline's role begins on the implementation side: helping you stay organized, track outstanding tasks and follow through on appropriate financial and administrative responsibilities.
A legacy review may be worth considering if…
Your financial life changes. Your implementation may need to change with it.
A trust created ten years ago may still be legally valid, but your financial life may look very different.
You may have purchased or sold property, opened new accounts, changed jobs, retired, welcomed grandchildren, changed beneficiaries or experienced other major life events.
That is why Crestline views legacy planning as an ongoing relationship rather than a one-time transaction.
Understanding trust implementation.
Not necessarily. Signing a trust document does not automatically transfer every asset into the trust. Different types of property may require different implementation steps. Your estate-planning attorney should determine the appropriate legal treatment for your specific assets.
Potentially. Assets that remain outside a trust and do not otherwise pass through an appropriate nonprobate transfer mechanism may be subject to probate or another court process depending on the facts and applicable California law. A qualified estate-planning attorney should evaluate the specific situation.
No. Crestline does not independently determine which assets should be transferred to a trust. Those decisions may involve legal, tax and other considerations and should be made with your estate-planning attorney and other appropriate professionals.
That is exactly how this process is designed to work. Your attorney remains responsible for legal advice and legal decisions. Crestline can help organize and coordinate implementation within our appropriate scope and return legal questions to your attorney.
If legal planning or legal review is required, Crestline can explain the distinction between our role and the attorney's role. You should engage a qualified estate-planning attorney for individualized legal advice and legal document preparation.
There is no single schedule appropriate for everyone. Major life changes, new property, account changes, family changes, retirement or changes in your overall planning may be reasons to review the implementation and consult the appropriate professionals.
Don't stop at having the documents. Review the implementation.
If you already have an estate plan, start with a conversation about what has been completed, what may still be outstanding and where professional coordination may be appropriate.
Schedule your Legacy Planning Review.
The initial conversation is designed to understand your current estate plan, what has already been implemented and what prompted you to review it now.
We may discuss:
- When your estate plan was completed
- Whether you currently work with an estate-planning attorney
- Property and accounts that may require organization
- Outstanding attorney instructions
- Beneficiary and ownership information
- Areas requiring professional follow-up
Woodland Hills, CA 91364
(818) 888-8011
[email protected]