Introduction The Asset Protection Medicaid profile is designed for single clients or surviving spouses who have accumulated discretionary wealth and are concerned about the potential impact of long-term care costs on their estate. This profile aims to protect assets from being depleted by Medicaid spend-down requirements, ensuring that clients can preserve their financial legacy for
Introduction The Asset Protection Tax profile is tailored for individuals and couples with a net worth exceeding the relevant estate tax exemption thresholds. This profile is particularly relevant for clients who seek to mitigate estate tax liabilities while protecting their assets from potential creditors and other claims. It is also suitable for situations where spouses
Introduction The Spousal Protection profile is designed for married couples with a net worth ranging between $500,000 and $4 million, who aim to safeguard the surviving spouse’s inheritance from Medicaid spend-downs, liens, transfer penalties, and look-back periods. This profile emphasizes the importance of protecting the surviving spouse’s financial security while ensuring that assets are efficiently
Introduction The Estate Transfer – Complex profile is tailored for clients with more intricate estate planning needs compared to the Simple Estate Transfer profile. This profile is particularly suitable for individuals with real estate holdings in multiple jurisdictions or those whose estate complexity demands more sophisticated legal strategies. The goal is to ensure a seamless
Introduction The Estate Transfer – Simple profile is designed for clients with straightforward estate planning needs. This profile is particularly suitable for individuals with low net worth or single clients who do not require asset protection from Medicaid. The focus here is on creating a clear and efficient plan to transfer assets upon death, without
Introduction The planning profiles in the EPIC framework are designed to address the diverse needs and circumstances of clients. These profiles are based on Money Models, which categorize clients according to their financial situations and estate planning goals. Each profile guides the creation of a tailored estate plan that meets the client’s specific needs. Seventy
Welcome to our drafting app designed specifically for estate planning lawyers. This guide will walk you through the EPIC framework, which is the foundation of our system. EPIC stands for Essential Documents, Property, Implementation, and Continuity. Each component plays a crucial role in ensuring that estate plans are comprehensive, accurate, and actionable.
The first pillar of the EPIC framework is Essential Documents. This involves correctly and efficiently drafting the appropriate legal documents necessary for a robust estate plan. These documents typically include:
Our app streamlines the creation of these documents, ensuring that all necessary legal requirements are met and that they are tailored to the client’s specific needs.
The Property component focuses on fine-tuning the provisions in trust agreements and other related documents. Key elements include:
By addressing these aspects, we ensure that the client’s assets are protected and managed according to their wishes.
Implementation refers to the process of building a family governance system or at least disseminating the legal plan to the younger generation. This involves educating them on how to execute the plan when they are required to act as fiduciaries. Steps include:
Effective implementation ensures that the plan is understood and can be executed smoothly when the time comes.
Continuity is about installing the legal plan as software that listens to trigger events and takes automated actions. This component includes:
This approach ensures that the estate plan remains dynamic and responsive to changes, iterating generationally.
The EPIC framework provides a comprehensive approach to estate planning, ensuring that all aspects are covered from document creation to long-term management and continuity. Our drafting app leverages this framework to help estate planning lawyers create detailed, accurate, and actionable estate plans for their clients.
By following this guide and utilizing the features of our app, you can ensure that your clients’ estate plans are well-prepared and can be effectively implemented and maintained over time.
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