RightCapital's Estate Planning module allows you to propose trust strategies to help strengthen a client's financial goals. By adding a trust strategy, you can illustrate a scenario in which assets are moved from the client's taxable investments into a trust type of your choosing.
Trust strategies can be modeled within the Estate > Analysis tab of each client plan:
Use the steps below to add a trust strategy. Do note that you are not limited to a single trust, you can add multiple trust proposals to the trust strategy area to see the combined impact.
1
Click the Edit button in the lower right corner of the Action Items:
2
Within the drawer that opens on the right side of your screen, click Add New Trust in the lower left to open the menu of available trust options:
3
Choose your desired trust type, and then use the data fields to identify the parameters for that trust. The available data fields will adapt to fit your chosen trust type.
After filling out each field, click Save in the lower right:
4
After clicking Save, your trust proposal will be added to the Estate Analysis. Use the Action Items to include or exclude the trust proposals you've built here:
Looking for more on trusts?
For more detailed information on each type of trust within RightCapital, please see the article below:
When including a trust strategy, all of the figures within the estate flow chart will be updated to reflect the impact of that trust on the client's estate analysis. This will allow you to see:
How much is held outside of the taxable estate
How much more the client's heirs will receive
How much more will go to charity
How much less the clients will pay in taxes
In addition to the flow chart, the Comparison tab can be used to directly compare the current strategy (without the trust) to the proposed strategy (with the trust). A Trust tab will also appear, allowing you to track the income distributions and year-to-year balances and returns for your proposed trust. Please visit the resources below for more details on these tabs:
