This article was originally posted on Steve Leimberg’s Business Entities Email Newsletter Archive Message #3032.
The trust compilation can be used to identify ways to backstop, refine and administer the client’s estate and trust plans and could be reviewed and, as necessary, updated at each annual meeting, or even more frequently as circumstances demand. The term ‘binder’ is in quotation marks since the binder doesn’t end at the closing as a traditional real estate or corporate closing binder would, and in most instances will be electronic and no longer a physical binder (absent a specific client request). Given the complexity of many plans, practitioners might find this a useful tool in planning, creating, implementing and maintaining those plans.
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