3.14 Implementing the Plan

• Library: Estate Planning in Virginia (Virginia CLE) (2018 Ed.)

3.14 IMPLEMENTING THE PLAN

3.1401 Need for Additional Information and Documents. It is not uncommon for clients to have the initial meeting with the estate planning attorney without having thought through all planning contingencies or without having located every document that will be relevant to implementing the plan. For example, while spouses might both wish to have their assets distributed to their descendants at the death of the survivor of them, they may not have thought through the identity of the person or entity to whom

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they would wish to have the assets distributed if none of their descendants survive. The choice of fiduciaries and contingent fiduciaries will also frequently not have been made before the initial meeting. Clients may also fail to identify all assets or to determine the value of certain assets accurately. In some cases, this lack of information or supporting documentation will prevent the estate planning attorney from even beginning the process of drafting the estate planning documents. For example, a client may not have sufficient knowledge about the value of his or her estate to know whether federal estate tax issues need to be considered. In some instances, however, it is possible to draft estate planning documents with blanks that will be filled in when the client makes his or her final determination. The estate planning attorney must use good judgment in deciding when the available information is too limited to proceed with the process of preparing the estate planning documents.

3.1402 Checklist for Preparation of Documents.

	Will
	—Simple Will
	—Pour-Over Will
	Trust Agreement
	—Without Tax Planning
	—With Tax Planning
		•	Credit Shelter Trust
		-	Income to Spouse
		-	Income to Children
		-	Accumulate Income

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