The trust document packages available for assembly at Q4B Center are standardized forms designed to fit a wide variety of families. The trust forms are designed specifically for married couples and individuals who do not have unusual family circumstances or unusually complex assets.

For a married couple, the trust forms presume the following:

1. The couple wishes to share jointly in the control of assets while they are both living and competent;

2. They desire the surviving spouse to have some degree of control over the assets (for details concerning a surviving spouse's control, refer to the Help page associated with the Married Couple trust questionnaire); and

3. They wish to have the assets divided among children or other heirs (equally or unequally) after both spouses are deceased.

The trust package is not intended to substitute for tax or legal advice. Below are examples of situations which may require such advice:

1. Shifting of assets between spouses.
   Although our documents accommodate community, joint, or separate assets, our trust form assumes that all assets (other than personal possessions) are owned equally by the two spouses unless identified as separate property on Schedule A or B. The determination of asset ownership, whether separate, joint, or community property, may involve significant tax and legal issues. If there are any questions by the spouses (or by either of them) about the ownership of their assets, legal counsel should be consulted.

2. S Corporation stock.
   As you may know, there is no provision in our standard documents concerning closely-held stock for which an S election has been made. If you assist a client in transferring this type of stock to the trust, you should ask for a letter from the client's tax or legal advisor saying that the transfer is appropriate. Under certain circumstances, a trust amendment may be required. Please see the "Transfer Information" under the heading "Transferring Assets to Trust" in the Estate Planning Portfolio notebook filler pages (married and single), which we provide to all authorized users. Unless you are licensed to practice law, you should not provide any legal advice to your client.

3. Complexities (e.g., second marriages/separate heirs, etc.).
   Documents assembled at Q4B Center are intended for individuals and married couples with uncomplicated circumstances. Any individual or married couple with complex assets, family issues, or other unresolved estate matters should seek legal counsel in the estate planning process. For example, when a husband and/or wife has children from a prior marriage, there may be significant tax and legal issues which need to be addressed. Our documents may or may not be appropriate for that couple. Click here for a detailed list of estate planning issues that may require legal advice.

While the trust packages are designed for any size estate, individuals (married or single) with estates in excess of the federal estate tax exemption amount should consult with their attorney or other advisor concerning advanced estate planning techniques. Also, individuals (married or single) with significant amounts in retirements plans (pension, profit-sharing, IRA, 401K, etc.) should consult with their advisors about special planning opportunities available with those assets. The current federal estate tax exemption is $5,120,000.

Restatements

Please note that our trust package can be used to restate an existing revocable living trust in its entirety. To restate a trust using the website trust forms, the existing trust must:

1. Be revocable and amendable;

2. Have no Trustor yet deceased;

3. With respect to a married couple's trust: have named the Trustors as the original Trustees, with both of them still serving in that capacity (and with no other co-trustee serving); and

4. With respect to an unmarried person's trust: have named the Trustor as the original Trustee, who is still serving in that capacity (as the sole Trustee).

   A married couple's trust cannot be restated as an unmarried person's trust, nor vice versa, using the website trust forms. Seek legal advice or custom-drafting for restatements resulting from changes in marital status.

You may inquire about a referral to an Attorney or Certified Legal Document Preparer by sending e-mail to: support@Q4Bcenter.com.