How do I indicate trust funding status?

For your clients who choose a trust-based plan, you will be able to indicate the trust funding status for each asset your client has listed in their Legacy Architects contact record.

This will allow you to clearly indicate asset-by-asset who is in charge of funding each asset, what funding action is to be taken, whether that action has been completed, and a place to upload funding documentation such as a scan of a confirmation letter from a financial institution.

You and your client will also be able to see aggregate totals indicating funding status: how many assets have been funded or not, and the gross value of assets that have been funded or not.

In the Design tab of the contact record, the first field you will see is Estate Plan Type. This is where you can indicate whether your client chose a trust-based plan or a will-based plan.

If you select "trust-based plan" in the Estate Plan Type dropdown, then on the Estate tab this will open up five additional fields per asset for you to track trust funding status (not that these five fields do not appear unless "trust-based plan" is selected from the Estate Plan Type dropdown):

Depending on the responses to the questions above, the aggregators showing what/how much has been funded or not will calculate accordingly.

If your client has chosen to handle their own trust funding, we have found that a generic trust funding guide is all that is needed, and then your clients would refer to that guide and their list of current assets on how to fund each asset they own into their trust.

If your client has chosen to have your firm handle trust funding, this is when you might actually need to use an Excel spreadsheet. To track trust funding status in the meantime for your clients who choose firm funding, we recommend simply tracking this in an Excel spreadsheet the way you likely have done so in the past.