The Eckert Byrne LLC Spruce Plan

Eckert Byrne Spruce Plan

Who Is The Spruce Plan For?

Ideal Spruce Plan clients:

Have varied assets that exceed the MA estate tax exemption amount but less than the Federal exemption amount
Desire to protect their heirs’ inheritance from creditors and/or divorce by creating ongoing trusts
Want loved ones, instead of doctors, to determine their incapacity/disability
May want to include remarriage protections
May have charitable goals
Value privacy and seek to avoid probate & reduce estate administration costs for loved ones

How Does The Spruce Plan Help You?

Spruce Plan clients benefit by:

For married US citizens, reducing the Massachusetts estate tax to pass the most money to their loved ones
Providing a seamless transition of assets during periods of incapacity/disability, with detailed instructions
Providing remarriage protections (for married couples and beneficiaries)
Determining who will inherit their property, how, and when
Maintaining privacy by not having their plan made public through the court process
Reducing or eliminating the role of the Probate Court at their death, with fully organized assets

What Does The Spruce Plan Include?

The Spruce Plan includes:

Revocable Living Trust (Separate or Joint)
Certification of Trust
Pour Over Will
Health Care Proxy
Living Will
HIPAA Authorization
Power of Attorney
Notarization and Scanning of Documents
Electronic Copies of Documents
Personal Property Memorandum
Location List and Binder
Instructions for Successor Trustee
Letter of Instructions to Health Care Agents & Trustees
Basic Disability Trust Provisions
Basic Funding Instructions
Customized Disability Provisions through a Disability Panel
Written Opinion of Incapacity and Restoration
Detailed Asset Table
(1) Deed, Homestead, & Trustee’s Certificate (recording fees included -additional charges for multiple deeds and out-of-state properties)
Letters to Update Homeowners Insurance (if applicable)
Specific Funding Recommendations for all disclosed assets on Asset Table
Recommendations for Beneficiary Designations for Retirement Accounts
Common (Single) Trust Provisions for Minor Children (if applicable)
Temporary Guardian Appointment for Minor Children (if applicable)
Letter of Instructions to the Guardians & Trustees of Minor Children (if applicable)
Customized Ongoing Protective Trusts for Beneficiaries
Federal & MA Estate Tax Planning for Surviving Spouse (if applicable)
Remarriage Protections (if applicable)
Guidance on Achieving your Philanthropic Goals (if applicable)

How The Spruce Plan Process Works

Step 1

The Spruce Plan will begin with an initial design meeting. This meeting will provide a time for you to discuss and make specific decisions regarding your plan. Eckert Byrne LLC will need a completed PIF, including all asset information (bank statements, deeds, etc.), payment, and engagement letter before the initial design meeting can begin. After the design meeting, you will need to review the initial flowchart to confirm any outstanding items before the flowchart review call.

Step 2

Once you’ve reviewed the flowchart on your own, you will have the opportunity to review your plan flowchart with an attorney. This conversation will take place over the phone and will provide you with a time to have any follow up questions answered. You will confirm any outstanding decisions regarding your flowchart over the call.

Step 3

Before the estate plan can be drafted, the client will need to approve of the final flowchart. The plan cannot be drafted until approval is received.

Step 4

The final step in the plan will be a delivery meeting. In this meeting you will review your documents with an attorney, making note of those provisions specific to your plan. You will sign the documents in the presence of two witnesses and a notary public. After the plan is completed, clients are encouraged to continue an ongoing relationship via the firm’s Legal Checkup or Annual Maintenance programs. Eckert Byrne LLC can also assist with funding your trust if needed.