Prime Corporate Services Estate Plan

The link to set up your dashboard is time-sensitive and expires after 72 hours. If your link expired, reach out to estateplan@primecorporateservices.com to request a new one.

After you’ve completed your documents, our team will print and mail you a bound copy of them. Please note that these documents are not legally binding until all of the signature pages are signed and notarized. Review your documents carefully for any unresolved sections prior to signing and notarizing them. 

While we will send you printouts of your documents, you’ll also have the ability to print additional copies directly from the platform at any time.

After everything is signed and notarized, we recommend uploading the executed versions to your estate portal. While this is optional, it’s a good idea because it provides an additional layer of security in case your physical copies are lost or damaged.

After you’ve signed and notarized your trust documents, the next step is to fund your trust. This is a crucial part of the process that many people overlook.

Funding your trust means transferring ownership of your assets into the name of the trust. If you don’t do this, those assets will still have to go through probate when you pass away. If you’re not sure which assets need to be transferred to your trust, check out our list of common assets to get you started.

For real estate, funding typically involves executing a deed transfer with your local county recorder’s office. While there may be a small fee, retitling into the trust doesn’t trigger taxes or other transfer penalties. You’ll simply be updating ownership to reflect your trust as the new title holder.

For financial products, you’ll typically contact the financial institution where the product is serviced and either change the owner of the product to the trust or set the final contingent beneficiary of the product to be the trust. 

Remember, this process isn’t a one-time event. Every time you buy or sell an asset, it will impact your trust. You’ll need to update the title of new assets into the trust to ensure they’re protected.

There are two options for making changes to your estate plan.

1. For smaller updates to individual documents, log into your portal and select the document that requires changes. Click the “make changes” button and follow the prompts.
2. For larger updates due to major life changes—such as marriage, divorce, having children, major asset updates, etc.—log into your portal and click “Reassess My Needs” at the bottom of the page under the “Documents” tab.

Please note that updating your estate plan, with both minor and major changes, will cause your documents to be regenerated. This means you will receive new documents in the mail and be required to sign and notarize them in order to finalize them.

During your first year, these changes are free of charge. After that, you can make as many updates as needed for a $199 fee per new document.

If you’d like, you can also invite others to view your documents directly on the platform. This is particularly useful for your designated trustee or any individuals assigned to receive powers of attorney. Of course, inviting others to view your documents is entirely optional.

Estate planning is the process of organizing and managing the distribution of your assets and personal affairs after your death or incapacitation. It typically involves writing a will, designating beneficiaries, and setting up trusts, among other legal arrangements.

Estate planning ensures that your assets are distributed according to your wishes and can help minimize taxes, avoid probate, and provide for loved ones, especially minors or dependents. It also allows you to name guardians for children and decide who will manage your affairs if you’re unable to do so.

Probate is the legal process of validating a will and distributing an estate according to its terms or state law. It can be time-consuming and costly, which is why many people use estate planning tools like trusts to avoid it.

You can avoid probate by setting up a revocable living trust, naming beneficiaries on financial accounts, owning property jointly with rights of survivorship, and using transfer-on-death deeds for real estate.

Proper estate planning can reduce or eliminate estate taxes by using strategies like gifting assets during your lifetime, setting up trusts, and taking advantage of exemptions and deductions available under tax law.

Your estate plan isn’t a static document—it should evolve as your life changes. Many people forget to update their estate plans after major life events, which can lead to issues down the road.

You should review and update your estate plan whenever you experience significant life events such as marriage, divorce, the birth of a child, or the acquisition of significant assets. Regular reviews every 3–5 years are also recommended to ensure your plan aligns with current laws and your wishes.

The key components of an estate plan include:

• Financial Power of Attorney. These documents allow you to designate your legal and financial representatives if and while you are incapacitated. 
• Healthcare Power of Attorney (Living Will). Also called “Living Will,” these documents allow you to make decisions about your medical care if and while you are incapacitated. Your Power of Attorney above will make any additional decisions not specified within your Living Will.
• Trust Documents. These are the operative documents that permit trust protections to the assets you have placed within the trust. Also designates how, when, and to whom your assets will pass upon your death.

Pour-Over Will. Sometimes included in your trust, this document provides additional protection designating how you would like any assets that were not placed in your trust to be treated upon your death. This is a “back-stop” document that provides additional protection but that may not necessarily be relied upon if your Trust already held all applicable assets at the time of your death.

If you die without an estate plan, your estate will be distributed according to state laws. This can lead to unintended beneficiaries, higher legal fees, and delays in settling the estate. It may also result in your children being placed under guardianship by the court.

A trust is a legal arrangement where a trustee manages your assets on behalf of beneficiaries. Unlike a will, a trust can take effect during your lifetime and avoid probate, offering more privacy and control over how and when your assets are distributed.

The total collection of a person’s assets—including property, financial accounts, and personal belongings—that are owned at the time of death.

A legal document that outlines how a person’s assets should be distributed after death. It also allows the individual to name guardians for minor children and an executor to carry out their wishes.

A legal arrangement in which a trustee holds and manages assets on behalf of a beneficiary or multiple beneficiaries. Trusts can avoid probate and offer more control over asset distribution.

A type of trust that can be altered or revoked by the grantor during their lifetime. It allows assets to bypass probate and can provide for the management of assets if the grantor becomes incapacitated.

A trust that cannot be modified or revoked after it is created. Assets placed in an irrevocable trust are generally not subject to estate taxes and creditors’ claims.

The legal process of validating a will and distributing an estate after death. It involves paying debts, filing taxes, and distributing assets according to the will or state law if no will exists.

The person or institution named in a will to administer the estate. The executor is responsible for managing the estate’s assets, paying off debts, and ensuring the terms of the will are carried out.

An individual or entity named in a will, trust, or financial document to receive assets from the estate. Beneficiaries can be family members, friends, charities, or other organizations.

A legal document that allows an individual (the principal) to appoint another person (the agent) to manage their financial or legal matters if they are unable to do so themselves.

A type of power of attorney that remains in effect if the principal becomes incapacitated. It grants the agent authority to continue managing the principal’s affairs, including financial decisions.

A legal document that specifies a person’s medical treatment preferences in case they are unable to communicate their decisions. It also allows the appointment of a healthcare proxy to make decisions on their behalf.

A person designated to make healthcare decisions for an individual if they are unable to communicate or make decisions for themselves. This is often part of an advance healthcare directive.

A person appointed by a will or court to care for a minor child or an incapacitated adult. The guardian is responsible for the individual’s personal and financial well-being.

A tax imposed on the transfer of a deceased person’s estate to their beneficiaries. This tax is levied on the total value of the estate before distribution.

A tax applied to the transfer of assets from one person to another during the giver’s lifetime, without receiving anything of equal value in return. The gift tax has annual exclusions, meaning up to a certain amount can be gifted tax-free.

A trust created during an individual’s lifetime, where they transfer ownership of assets into the trust. It allows for asset management during life and ensures assets bypass probate after death.

Dying without a valid will. When a person dies intestate, state laws determine how their assets will be distributed, often prioritizing close family members.

The person who creates a will, specifying how their assets should be distributed upon their death.

An individual or institution responsible for managing the assets held in a trust on behalf of the beneficiaries, according to the terms of the trust agreement.

A type of will that transfers any remaining assets into a living trust upon the death of the individual, ensuring that assets not initially included in the trust are covered.

The legal body responsible for overseeing the distribution of an estate, ensuring that debts are paid and assets are distributed according to the will or state law if no will exists.

A legal document issued by the probate court giving the administrator the authority to manage the estate of a deceased person who did not leave a will.

A court-appointed arrangement in which a person (the conservator) is given authority to manage the financial and/or personal affairs of an incapacitated individual (the conservatee).

An individual or institution entrusted with the responsibility to act in the best interest of another person, such as an executor, trustee, or agent under a power of attorney.

A tax provision that allows inherited assets to be revalued at their fair market value at the time of the decedent’s death, reducing capital gains taxes when the asset is sold.