Innovative templates make advanced estate planning simple to understand

Luminary’s new Dispositive Provision Templates feature is the latest innovation automating manual tasks for wealth advisors.

Mapping out your clients’ estate structures is often a time-consuming, albeit essential part of understanding their current and future planning needs. Advisors often spend hours painstakingly crafting a waterfall diagram – not only to demonstrate a thorough understanding of a client’s estate structure, but also to provide a compelling way to communicate new estate planning ideas. Now, advisors can efficiently map out their clients’ estates and explore new planning ideas faster than ever before with templates.

Save time, reduce errors, and streamline the creation of client deliverables

Luminary’s new templates take the manual work out of creating common structures, providing pre-set patterns of dispositive provisions. Now, you can create common trust structures within the Estate Waterfall in just a few clicks. These dispositive provisions then power the creation of dynamic estate waterfall visuals, and automatic projections of estate taxes and beneficiary outcomes.

In addition to modeling current estate plans, these templates can also be applied within hypothetical “what-if” analyses to show the outcome of implementing new estate planning strategies. For example, if you wanted to demonstrate the difference between implementing some basic planning for your client with a pour-over will, or layering on more complex planning to defer state estate taxes, you could utilize both the pour-over will and A/B/C trust templates.

Luminary will automatically populate the estate waterfall diagram with the new structure, calculate the impact on estate taxes, and project the value of assets flowing through to each beneficiary. You can then generate a presentation comparing the hypothetical structure to the status quo.

Create estate distribution patterns in a few clicks

Template types available:

A/B Trust

• A/B Trust
• A/B Trust with survivor’s trust

A/B/C Trust

• A/B/C Trust

Outright distributions to surviving spouse

• 100% outright to surviving spouse
• 100% outright to surviving spouse with disclaimer trust

Marital Trust

• 100% distribution to marital trust
• Marital trust with disclaimer trust
• Marital trust with Clayton QTIP trust

Pour-over will

Use the new pour-over preset template to apply model assets that go into a revocable trust for pour-over wills. With this new feature, you can easily see entities pouring into the revocable trust prior to your clients' death event in the Estate Waterfall diagram .

Custom templates

Create your own custom templates to apply the same pattern of dispositive provisions to multiple entities, saving time in building out client estates where the same distribution patterns are made across multiple trusts.

Empower your Estate Planning practice

By reducing the time it takes to add dispositive provisions, build estate waterfalls, and calculate the impact on an estate, Luminary empowers advisors to serve more clients without investing in additional resources. Now you can focus on delivering bespoke, high-value estate planning services, while Luminary handles the complex projections and diagrams. The result? More time for strategic advisory, and a more streamlined experience for your practice.

Templates are now live in Luminary

Log in to Luminary to see how easy it is to apply these pre-set templates to your estate waterfall. Open the manage dispositions page and simply start with a preset or create your own template.

Interested in learning more about Luminary’s industry leading technology? Reach out for a personalized demo.

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Frequently Asked Questions

I have a trust that outlines a set of dispositive provisions that don’t match any of the templates, can I create my own?

Yes, you can create your own template using the “no presets” template. This will allow you to add your custom dispositions and save them as a template

If I edit a template, will the changes be made across all entities linked to it?

Yes, if a template has been applied to one or more entities, any modifications you make to the template will be applied to all entities linked to the template. If you delete the template, entities using the template will be reset and will require new dispositions to be added.

Can I use multiple templates in one Estate Waterfall?

Yes, you can create and use as many templates as needed. For example, I can use the pour-over will template, and apply the A/B trust template to the receiving entity of the pour-over provisions.

What are common uses for creating a template?

Templates allow you to efficiently add dispositive provisions to an entity that follow a set of common trust patterns (i.e. A/B trust, outright to surviving spouse, outright to marital trust). Using templates reduces the amount of data entry that is otherwise required without the use of templates. For example, if you select the A/B trust template, we automatically pre-fill the asset location of any testamentary entities, specific the distribution amount, and recipient type.

Templates also allow you to modify dispositions for multiple entities at once. Instead of navigating to each entity, you can simply modify the template and those changes will propagate in any linked entities.