Note: This sample template is not intended to be inclusive of all the content that may be included in the letter the client receives. It is the starting point for the attorney. The content and recommendations in the letter will depend upon the client context that is included in the software.

RE: Encore Estate Planning Documents

Dear {Client Name 1} and {Client Name 2},

I am a licensed attorney in the State of Florida. As you requested, I have reviewed your estate planning documents produced by Encore Estate Plans.

I confirm that the documents meet the legal requirements under the Florida Probate Code for:

1) Creating a revocable trust;

2) Creating a durable power of attorney;

3) Creating advance health care directives; and

4) Creating a will.

It is very important that these documents be executed in compliance with the Florida law to be recognized by financial institutions and courts. The trust and the will should be signed at the end, witnessed by two witnesses and notarized. The notary may not also serve as one of the witnesses. The durable power of attorney should be signed, witnessed by two witnesses and notarized. The advance health care directives should be signed and witnessed by two witnesses who are not not family members and not responsible for paying your health care costs.

I have reviewed your estate planning documents and confirm that the documents produced by Encore have the same information as the inputs placed in the Encore Estate Plan database by Client and/or your financial advisor. Your signatures on the attached Estate Plan Summary is your confirmation that the inputs are accurate regarding spelling of names, addresses, phone numbers and the choices you made for your estate plan. I do not express any opinion as to whether the dispositive provisions of your estate planning documents are appropriate for your family and beneficiaries.

Once your documents have been executed, you need to make sure your trust is properly funded, confirm your beneficiary designations are up to date, and make sure there is a successor owner for any accounts you own that benefit another person, such as a child or grandchild. You may be able to make these updates online or you may need to complete and submit specific forms.

In general, the following types of assets should be held in trust:

1. Real property (houses, land, time shares, etc.)

2. Financial institution accounts (banks, brokerages, etc.)

3. Non-brokerage stocks, bonds, and mutual funds

4. Promissory notes and deeds of trust that you own

5. Intellectual property (copyrights, patents, trademarks, etc.)

6. Business interests (partnerships, LLC memberships, etc.)

Title should be taken in substantially the following form:

{Client Name 1} and {Client Name 2}, trustees of the

{Name of Trust} dated ______________________.

If your homestead real property (the house you live in) is titled to your trust, you may need to re-apply for the homestead tax exemption with your local county property appraiser.

You may also need to update your beneficiary designations to work as efficiently as possible with your estate plan. If you name your trust as a beneficiary, the proceeds will be distributed pursuant to your trust’s terms; however, the proceeds may also be subject to claims by creditors of your estate if you have left any unpaid bills, such as a mortgage. Consult a tax professional or your financial advisor to understand your options and the implications of naming your trust as a beneficiary for any assets that are tax deferred. I do not express any opinion as to any tax implications of holding assets in trust.

In general, the following types of assets should have a primary or contingent beneficiary on file with the financial institution that manages them:

1. Life insurance policies

2. Accidental death and dismemberment insurance policies

3. Retirement investments (IRA, 401(k), 403(b), 457 accounts, etc.)

4. Stock options

5. Retirement death benefits

In most cases, I recommend the following beneficiary designations:

Primary Beneficiary: {Spouse}

Contingent Beneficiary: {Name of Trust}

Finally, if you own accounts for the benefit of others, such as children or grandchildren, most often those accounts can be owned only by one person at a time. For that reason, it is critical that you designate a successor owner / participant / custodian to allow uninterrupted management of those accounts. Otherwise, a court order may be required for the person you want to have the legal authority to manage those accounts after your death, even if that person is your spouse or the child’s parent.

In general, the following accounts should have a designated successor owner / participant / custodian:

1. College savings accounts

2. 529 accounts

3. Coverdell accounts

4. UTMA/Custodial accounts

In most cases, I recommend the following successor owner designations:

First Successor Owner: Trustee of {Name of Trust}.

If the company will not let you designate your trust as a successor owner, then you should designate your successor trustees in order.

Although this general advice conerning the titling of assets and designation of beneficiaries applies to most clients, you should consult with your financial advisor when funding your trust and updating beneficiary designations.

Sincerely,

Wesley T. Dunaway, Esq.