Estate planning binder

If you are looking to jump into estate planning process then it is a good idea to organize your estate planning documents into an estate planning binder. The documents within your binder should constitute a complete estate plan.
Complete with all the necessary forms and instructions, a binder is an easy way to organize your legal, personal and financial documents and records. With the pre-punched sheet protectors, you never have to punch holes in any of your important documents. You will simply slip documents and other important papers into the sheet protectors and insert them in the appropriate section and binder.
These binders help to convert an intangible service into a tangible personalized product which is less menacing and is perceived as a more valuable investment than sole documents. A binder is useful for both the client and lawyer. If you are a client then you can show your Estate Organizer to other advisors and to your friends and relatives, and tell them about your superior service, which creates a continuous referral source for your practice. On the other it helps attorney or lawyer to provide convenient and valuable information to their client, and acts as an overall reference source of information in regard to the estate plan.

Following are the other advantages offered by a binder:

•    It helps to hold copies of the plan to lessen the amount of loose paper in the signing appointment while allowing for pages to be replaced if revisions or additions are made.
•    It is used in combination with the Personal Tour through asset transfers videotape included with your system, which reviews all information contained in the binder.
•    It refreshes the client regarding the benefits of the estate plan, and discusses the funding process when a revocable living trust is utilized as part of the estate plan.
•    These binders contain copies of the client’s customized estate plan, explanations of all estate planning documents like living trust, will(s), irrevocable trust(s), life insurance, advance healthcare directive(s), durable power(s) of attorney-general, deeds, Estate plan data recorder etc.

The proper procedure to maintain an estate planning binder is to first divide it into different segments. There must be fourteen different segments. Each and every segment will contain their respective papers. For example, Segment one contains your personal legal estate planning documents such as your trusts, wills, durable powers, etc. Segment two contains other legal documents such as your birth and marriage certificates, etc. Segment three contains any business documents. Segment four can be a To-Do List for heirs, trustees and executors. Segment five contains general information about your immediate family. Segment six contains a information essential to your survivors’ ability to quickly locate papers and items that are kept in the Organizer as well as in other places. Segment seven contains a form for leaving to those you love. Segment eight contains a form for stating gifts of tangible personal property to certain individuals. Segment nine contains a form for estate settlement. Segment ten contains copies of financial plans, estate plans or any other analyses which were done for you by financial and estate planners. Segment eleven contains a form for computing your Net Worth and Projected Death Estate. Segment twelve contains your latest account statements from financial institutions as well as papers showing ownership of other assets. Segment thirteen contains all of your insurance policies and finally Segment fourteen will contain a budget and bill-paying forms to assist you in the management of your living expenses.