CaseMark Succession Planning Summary
Produces a single reference document that consolidates all estate planning instruments for executors, trustees, and beneficiaries.
Header disclaimer: This summary does not replace legal counsel. Mark unverified or ambiguous provisions with [REQUIRES LEGAL REVIEW].
Prerequisites
- Estate planning instruments — wills, codicils, trust agreements, beneficiary designation forms
- Fiduciary documents — powers of attorney, healthcare directives/proxies
- Asset inventory — real property, financial accounts, business interests, significant personal property
- Amendments or restatements — with dates, to establish document priority
Quick Start
- Collect all instruments and confirm which is most recent for each category
- Build the executive overview table (plan structure, beneficiaries, fiduciaries)
- Map every asset to its transfer mechanism (probate, trust, or beneficiary designation)
- Document each trust, fiduciary appointment, and special provision
- Draft the administration timeline with statutory deadlines
- Flag gaps, conflicts, and time-sensitive items
Output Structure
1. Executive Overview
| Element | Content |
|---|---|
| Plan structure | Revocable trust-centered, will-based, or hybrid |
| Primary beneficiaries | Named individuals/entities with relationship |
| Major asset categories | Real property, financial, business, personal property |
| Distribution philosophy | Equal split, needs-based, conditional, phased |
| Key fiduciaries | Executor, trustee(s), guardian(s) |
2. Asset Distribution Map
Organize by transfer mechanism. Use this table for each asset:
| Asset | Transfer Mechanism | Primary Beneficiary | Contingent Beneficiary | Conditions |
|---|---|---|---|---|
| {asset} | probate / trust / beneficiary designation | {name, %} | {name, %} | {if any} |
Probate assets: specific bequests, percentage/residuary allocations, contingent chains. Non-probate transfers: beneficiary designations (retirement, life insurance, POD/TOD), joint tenancy, trust-funded assets.
3. Trust Structures
For each trust:
| Field | Detail |
|---|---|
| Name & type | e.g., Revocable Living Trust, ILIT, SNT, CRUT |
| Trustee / Successor | Names, order of succession |
| Purpose | Asset protection, tax planning, special needs, charitable |
| Funding source | Pour-over will, direct transfer, beneficiary designation |
| Distribution standard | HEMS, discretionary, mandatory income, unitrust % |
| Distribution timing | Age-based, milestone-based, immediate, staggered |
| Termination trigger | Age attainment, death, purpose fulfilled |
Note trust-to-trust relationships and pour-over provisions.
4. Fiduciary Appointments
| Role | Primary | Successor(s) | Scope / Limitations |
|---|---|---|---|
| Executor / Personal Rep. | |||
| Trustee (per trust) | |||
| Guardian (minor children) | |||
| POA — Financial | Durable? Springing? | ||
| POA — Healthcare / Proxy | |||
| Trust Protector | Modification powers? |
5. Special Provisions
Flag each that applies:
- Conditions precedent (age, sobriety, education milestones)
- Tangible personal property memoranda
- Business succession (buy-sell, management transition)
- Charitable giving (outright, CRT, private foundation, DAF)
- Tax planning structures (A/B trust, QTIP, GRAT, dynasty trust)
- Spendthrift / asset protection clauses
- In terrorem (no-contest) clauses
- Digital asset provisions
6. Administration Timeline
| Phase | Actions | Deadline |
|---|---|---|
| Immediate (0–30 days) | Secure assets, locate documents, notify institutions, file death certificate | — |
| Short-term (1–6 months) | Open probate if required, file inventory, notify beneficiaries, apply for EIN | Creditor period varies by state |
| Mid-term (6–12 months) | Asset valuation, Form 706 decision (9 mo + 6-mo extension), disclaimer deadline (9 mo) | IRC § 2518 |
| Distribution | Satisfy debts/taxes, fund sub-trusts, make bequests, distribute residuary | After creditor period closes |
| Closing | Final accounting, beneficiary receipts, petition to close | — |
7. Gaps, Conflicts & Action Items
Flag each:
- Assets not addressed by any instrument
- Contradictions between documents (e.g., will vs. beneficiary designation)
- Outdated designations (pre-divorce, deceased beneficiaries)
- Missing referenced documents (e.g., personal property memorandum)
- State-specific issues requiring local counsel
- Time-sensitive elections or disclaimers at risk
Guidelines
- Define legal terms in plain language parenthetically on first use
- Cross-reference related provisions across instruments (pour-over will → trust, designation → trust sub-account)
- Beneficiary designations generally control over will/trust provisions — flag conflicts for attorney review
- Include a table of contents for estates with 3+ trusts or 10+ distinct assets
- Attribute every statement to its source document and date