Estate Dynamic Plan

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Overview

The estate results section is designed to quickly show you what impact the most common estate planning strategies would have on yours and your spouse’s estate. The strategies we include are:

  1. Credit Shelter Trust 
  2. Irrevocable Life Insurance Trust (transfer existing policies) 
  3. Irrevocable Life Insurance Trust (create a new policy) 
  4. Charitable Remainder Trust

Each one of these strategies is set up by clicking on the “Setup Action Plan” button on the right. Doing so will open a pop up screen with tabs corresponding to each strategy.

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The Action Plan check boxes only become active once they have been set up. Selecting the check box will affect the plan and will be reflected in the charts.

 

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Each result page will also have an Assumptions section where you can change the death age, the amount of life insurance, and filter lower priority expenses from the plan.

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Net Worth Graph

On this result screen you will notice a large bar chart at the top and a detailed legend at the bottom. The two sections in tandem show the overall Net Worth and the detailed breakdown of that Net Worth for every year in the plan. As you hover your mouse over the top chart you will see the corresponding values displayed in the lower portion.

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Total Wealth Graph

On this result screen you will notice a large bar chart at the top and a detailed legend at the bottom. The top chart shows the composition of the Gross Estate, specifically the portions in Gifts, Trusts, and how that changes throughout the plan. On the top chart you can also easily identify the year of the first death (with the black diamond marker).

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The bottom section shows a snapshot of the Gross Estate at the time of death of either client and/or spouse. The legend breaks down the taxes, deductions, exclusions, credits, and it also captures the value of assets that are not in the estate but that are transferred to the beneficiaries, thus showing the total value that a proper estate planning may have on Total Wealth.

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Beneficiary Distribution

On this result screen you can analyze what assets, and what percentage of those assets, are going to each one of the specified beneficiaries. This screen only tracks assets that are part of the Estate, therefore assets held in trusts are not shown here. Selecting each one of the available beneficiaries in the list on the left will show the distribution details on the main section on the right.

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NOTE: Amounts listed on this screen are net of taxes. Different types of beneficiaries reflect the tax treatment and privileges of such entities. For example, if all assets are meant to be split 50/50 between a child and a charity, although each one will get 50% of the gross account, the child will get less money.

 

Flow Chart

On this result screen you can see the impact of the Action Plans on the bottom line of the plan. The flow chart is set up to show the primary estate, how it flows through a spouse (if any), and how much of it is being diverted to the various trusts.

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In the middle section there is a summary of these transfers, how much you’re losing to taxes, and a bottom line number of how much of the original estate is really getting to the end beneficiaries.


 

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