Barnes Lipscomb & Stewart PLLC

Who Can You Trust to Reduce Stress of Estate Planning

Wealthy families are not the only ones who rely on trust companies or use trust companies. People at all income levels, find them a useful resource, in coordination with their estate planning attorney.

If you don’t know how an estate plan works, you call an estate planning attorney. Not only will they help you in the creation of an estate plan, but they’ll work with you and members of your family to clarify your wishes about health care decisions, what kind of a legacy you want to leave and asset distribution.

The Pasadena Journal’s recent article, “Who Can You Trust to Reduce Stress of Estate Planning?” suggests that a trust company could be part of a team of professionals, who coordinate your financial assets and make sure that they are aligned with your estate plan.

If you have a reasonable amount of financial assets, you may benefit from the various services provided by a trust organization. Those services can range from administration of a variety of trusts (such as living trusts and charitable trusts) to asset-management services (bill-paying), and safekeeping services (like providing secure vaults for jewelry and collectibles).

Employing a trust company can make things much easier, when it’s time to plan and execute your estate. A trust company can help you in these ways:

• Lessening family fighting. Dividing estate assets can result in ill will and stress in a family. However, a trust company can act as a neutral third party to reduce feelings of unfairness.
• Providing greater control. With a living trust that’s administered by the trust company, you can allow yourself great control over how you want your assets distributed.
• Saving time and energy. With a trust company, you can let them do all the “legwork” of coordinating your plans with your financial professional, tax advisor and attorney. These professionals are also used to dealing with trust companies.
• Adding protection. Trust companies assume fiduciary responsibility for your financial well-being. This means that your best interests are always considered in each service and transaction they perform.

You can select from among many different trust companies, but before choosing one, examine the services and fees of a few different firms.

Having a team of professionals working together on your behalf that includes an estate planning attorney, a financial professional and a CPA, can make estate planning a more comprehensive process.

Reference: The Pasadena Journal (February 20, 2019) “Who Can You Trust to Reduce Stress of Estate Planning?”

Senator Sanders Introduces Bill to Change Estate Tax and Top Tax Rate

There’s a lot of talk about changing the estate tax exemption to something approaching previous levels, as well as increasing taxes on the wealthiest Americans. Will any of it happen, or is it campaign rhetoric?

Vermont Senator Bernie Sanders, who has recently announced that he’s running for president in 2020, has introduced Senate Bill 309, called "For the 99.8 Percent Tax." The legislation would establish a tax of 45% of the value of estates valued between $3.5 million and $10 million and set the top taxation rate as high as 77 percent.

Rubber & Plastics News reported in “Bernie Sanders introduces bill to re-establish estate tax threshold” that the 77% tax rate would be assessed only on estates worth more than $1 billion, according to the bill. The rate would be 50% for estates assessed between $10 million and $50 million, and 55% for estates between $50 million and $1 billion.

"At a time of massive wealth and income inequality, when the three richest Americans own more wealth than 160 million Americans, it is literally beyond belief that the Republican leadership wants to provide hundreds of billions of dollars in tax breaks to the top 0.2 percent," Sanders said in a statement accompanying the introduction of S. 309.

"Our bill does what the American people want, by substantially increasing the estate tax on the wealthiest families in this country and substantially reducing wealth inequality," he said.

Since 2017, the estate tax exemption has been $11.4 million for individuals and $22.8 million for couples. However, that rate is scheduled to expire at the end of 2025.

Sanders’ bill seeks to limit estate planning techniques that help small business owners keep their businesses in the family, such as gifts of interest in a family business to younger family members, says opponents.

The bill would also be inherently unfair to small businesses, even more so than current estate tax law, one association said.

Senate Bill 309 was introduced after the Death Tax Repeal Act of 2019 was introduced. That bill would totally repeal estate taxes. Senate Majority Leader Mitch McConnell (R-Ky.), Senate Majority Whip John Thune (R-S.D.), and Senate Finance Committee Chairman Chuck Grassley (R-Iowa) were the co-sponsors, joined by 26 other Senate Republicans.

The chances of either bill being passed into law is yet to be seen, but they both serve as reminders that nothing in tax laws are forever. Estate plans need to be updated when the tax laws change, and that includes any estate plans that have not been updated, since the 2017 tax reform bill became law.

Reference: Rubber & Plastics News (February 25, 2019) “Bernie Sanders introduces bill to re-establish estate tax threshold”

How Well Does a Revocable Trust Work in Estate Planning?

There are people who still think that trusts and estate planning are only needed by wealthy families to protect their millions and billions. However, that’s not true. Estate planning, wills and trusts are for every family who wants to protect their assets.

There are as many different types of trusts, as there are situations that call for their use. Knowing which trust you need and how it can work to benefit the family, is necessary before any trusts are created.

As Forbes explains in its recent article, “Revocable Trusts: The Swiss Army Knife Of Financial Planning,” trusts are a critical component of a proper estate plan. There are three parties to a trust: the owner of some property (settler or grantor) turns it over to a trusted person or organization (trustee) under a trust arrangement to hold and manage for the benefit of someone (the beneficiary). A written trust document will spell out the terms of the arrangement.

One of the most useful trusts is a revocable trust (inter vivos) where the grantor creates a trust, funds it, manages it by herself and has unrestricted rights to the trust assets (corpus). The grantor has the right at any point to revoke the trust, by simply tearing up the document and reclaiming the assets, or perhaps modifying the trust to accomplish other estate planning goals.

After discussing trusts with your attorney, he or she will draft the trust document and re-title property to the trust. The assets transferred to a revocable trust can be reclaimed at any time. The grantor has unrestricted rights to the property. During the life of the grantor, the trust provides protection and management, if and when it’s needed.

Let’s examine the potential lifetime and estate planning benefits that can be incorporated into the trust:

• Lifetime Benefits. If the grantor is unable or uninterested in managing the trust, the grantor can hire an investment advisor to manage the account in one of the major discount brokerages, or he can appoint a trust company to act for him.
• Incapacity. A trusted spouse, child, or friend can be named to care for and represent the needs of the grantor/beneficiary. She will manage the assets during incapacity without having to declare the grantor incompetent and petitioning for a guardianship. After the grantor has recovered, she can resume the duties as trustee.
• This can be a stressful legal proceeding that makes the grantor a ward of the state. This proceeding can be expensive, public, humiliating, restrictive and burdensome. However, a well-drafted trust (along with powers of attorney) avoids this.

The revocable trust is a great tool for estate planning because it bypasses probate, which can mean considerably less expense, stress and time.

In addition to a trust, ask your attorney about the rest of your estate plan: a will, powers of attorney, medical directives and other considerations.

Start by talking with an experienced estate planning attorney about what you want to achieve. This includes distribution of assets, minimization of taxes, passing wealth across generations, or protecting heirs from creditors. They will be able to create a plan, using trusts that are best suited for your unique situation.

Reference: Forbes (February 20, 2019) “Revocable Trusts: The Swiss Army Knife Of Financial Planning”

Footnote from Barnes Lipscomb Stewart & Ott PLLC

Living Trusts in Texas sometimes cost more than probate, as probate in Texas is not expensive or lengthy, compared to many states.  So living trusts should be used only if appropriate for a client.  There are many good reasons to use them, but they may not be appropriate for some clients.  They should never be considered the automatic choice for estate planning.  

Karl Lagerfeld’s Beloved Choupette Maintains Her Lavish Lifestyle

As the pampered pet of an international fashion icon, Choupette won’t need to sacrifice style or comfort, now that her owner has passed. You can take care of your pet too, even if they aren’t world famous.

The world of fashion mourned when Karl Lagerfeld died, leaving a legacy of design and a unique style. He is survived by his cat, Choupette. The cat’s nine lives will continue to be lavish, as he undoubtedly made sure that she will be well-cared for.

Forbes’ recent article, “Why One Of Karl Lagerfeld's Legacies Might Be Estate Planning For Your Pet.” reports that as an arbiter of style, Karl Lagerfeld was always clear and concise in his wishes. That can be seen in how he often spoke about his death. In April 2018, in an interview with Numero he stated, “There will be no burial. I'd rather die ... I've asked to be cremated and for my ashes to dispersed with those of my mother… and those of Choupette, if she dies before me.”

After Lagerfeld’s death, Choupette continues to be a star. She has become an icon in her own right, because of the love lavished upon her by her owner. With an Instagram following, a coffee table book and a modelling career, this cat will likely continue her pampered existence. However, the designer’s death raises a key concern in estate planning today: the care of a pet when someone dies.

Like Lagerfeld, many people see their dogs, cats, and other animal friends as members of the family. Therefore, it’s only natural that they be part of the estate plan. Since Choupette lived a lavish lifestyle while Lagerfeld was alive, it’s presumed that he likely made the necessary arrangements for his kitty in his estate planning.

A pet trust is pretty straightforward: in your estate plan, you can create a trust that coordinates the care and maintenance of your pet. Like all trusts, there will be a trustee who manages the funds and a caretaker who takes care of the pet. The custodian can request money and the trust specifies the client’s hope that those funds be used by the custodian for the benefit of the pet.

A complicated facet of a pet trust is to consider the care and maintenance of the pet. In Choupette’s case, she lived a life of extravagance, so Lagerfeld probably funded the trust at a level to make sure this lifestyle can continue.

However, for most, there needs to be some formula to fund the trust. This amount often is based on the type of animal and its past and future projected needs. Some pet owners consult with their veterinarian to determine an appropriate amount for the future care needs for their dog, cat, or other pet.

When the pet dies, the trust ends, and the caregiver can be the beneficiary of the remaining funds for taking care of the pet so well.

One extra thought for planning for pet care: most animals are very social, and if there are family members or friends who they saw on a regular basis, their quality of life will be enhanced if they can continue to visit with these people, after their owners have died. Pets will know that someone they love is missing, but they will find comfort in spending time with people they know.

Reference: Forbes (February 20, 2019) “Why One Of Karl Lagerfeld's Legacies Might Be Estate Planning For Your Pet”

What are Benefits of Using a Trust, Instead of a Person as IRA Beneficiary?

The question is simple. The answer is not. This is an area where you’ll need to rely on a very experienced professional, since the rules for using a trust as an IRA beneficiary are extremely complex.

In the right situation, and when handled with great proficiency, there can be advantages to naming a trust instead of an individual as a beneficiary of an IRA. However, before putting what may well be your largest asset at risk, make sure that the person who is helping you is well-educated and up-to-date on the latest tax laws. A mistake here could leave your heirs with a tax bill that is almost as big as your IRA.

Investment News’ recent article on this subject asks, “Should you name a trust as an IRA beneficiary?” The article explains that individual retirement account assets can't be put into trusts directly during a person’s lifetime without destroying the IRA's tax shelter. Therefore, a trust may only be named as the beneficiary of the IRA. The trust would inherit the IRA upon the owner’s death, and beneficiaries of that trust would have access to the funds.

Asset protection is the main rationale for making this move because trusts shield IRA assets from lawsuits, business failures, divorce, and creditors. Taxpayers enjoy state and federal protections for IRA assets during their lifetime. However, heirs who inherit an IRA directly—not through a trust—don’t receive those protections unless provided by state law. Trusts also allow for some control over the assets. The terms of a trust can stipulate the way in which distributions are made if an heir is a minor, disabled, financially unreliable, incapacitated or vulnerable.

Naming a trust as an IRA beneficiary may not be practical for people who plan to bequeath their IRA to a spouse, rather than their children, grandchildren or others. Spouses are allowed roll over the decedent's IRA assets into their own IRA tax-free.

There are many technical rules to follow, like the IRA beneficiary form must indicate before a person’s death, that the trust is the primary beneficiary. After death, the IRA must be retitled as an inherited IRA. Required minimum distributions (RMDs) would still also be required for the IRA. This is an area where using the right type of trust is important. A "see-through" or "look-through" trust may be the best bet.

Structuring a trust this way maintains the IRA's preferential tax treatment. That allows a trust beneficiary to spread the RMDs over a long period based on his life expectancy. This is called a “stretch IRA.” The RMD amount would be based on the oldest beneficiary of the trust. However, beneficiaries with separate trust shares would have different RMDs.

In addition, the trust's language must also state that distributions from the IRA can only go to "designated beneficiaries," not to pay expenses. The risk of not creating the trust as a see-through or including this language, is that the IRA assets are distributed and the resulting tax paid within a much shorter time frame—potentially five years.

Trusts may also be set up as "conduit" or "discretionary" trusts. With a conduit trust, the annual RMDs pass through the trust to beneficiaries, who pay tax at their individual rates. Discretionary trusts don't distribute the RMDs out of the trust and pay tax at the more punitive trust tax rates. However, they keep the most post-death control over assets.

Taking this approach may require the input from several of your advisors. Speak with your estate planning attorney, CPA and financial advisor to gather information from three independent sources to ensure that the IRA and heirs are protected.

Reference: Investment News (February 22, 2019) “Should you name a trust as an IRA beneficiary?”

What Role Does Charitable Giving Play in an Estate Plan?

We are a nation of volunteers and donors. Some give their time and expertise to charities, while others feel a responsibility to give back financially. There are different ways to give and there are still tax benefits to be gained from charitable giving.

Many wills include a provision giving a certain amount of money, equities or real property to charities, upon the decedent’s passing. However, as noted in Baltimore Voice’s recent article, “Estate planning and charitable giving,” there are several ways to incorporate charitable giving into an estate plan.

Dictate giving in your will. When looking into charitable giving and estate planning, many people may start to feel intimidated by estate taxes, thinking that their family members won’t get as much of their money as they hoped. However, including a charitable contribution in your estate plan will decrease estate tax liabilities, which will help to maximize the final value of the estate for your family. Talk to an experienced estate attorney to be certain that your donations are set out correctly in your will.

Donate your retirement account. Another way to leverage your estate plan, is to designate the charity of your choice as the beneficiary of your retirement account. Note that charities are exempt from both income and estate taxes. In choosing this option, you guarantee that your favorite charity will receive 100% of the account’s value, when it’s liquidated.

A charitable trust. Charitable trusts are another way to give back through estate planning. There is what is known as a split-interest trust that lets you donate assets to a charity but retain some of the benefits of holding the assets. A split-interest trust funds a trust in the charity’s name. The person who opens one, receives a tax deduction when money is transferred into the trust. However, the donors still control the assets in the trust, and it’s passed onto the charity at the time of their death. There are several options for charitable trusts, so speak to a qualified estate planning attorney to help you choose the best one for you.

How you make your charitable donation, depends upon your level of wealth and commitment to the organizations and causes that have meaning to you. An experienced estate planning attorney will be able to create a plan for giving that complements your legacy and creates tax benefits for you and your heirs.

Reference: Baltimore Voice (January 27, 2019) “Estate planning and charitable giving”

My Spouse Has Died. What Now?

The loss of a spouse is one of the most stressful events of anyone’s life. It’s a time of great vulnerability, yet there are so many decisions to make and things to do. How do you proceed?

Probably the best advice anyone can receive after the loss of a spouse, is not to make any major financial decisions for at least a year. Grief impacts us in emotional, physical and cognitive ways, and we need time to go through the process, until we and our family members can think clearly. There are some things, however, that do need to be taken care of. Just proceed with caution.

U.S. News & World Report recently published an article, “Don't Make These Mistakes When Your Spouse Passes Away,” that warns us to take care to avoid these mistakes after the death of a spouse:

Taxes. Your tax-filing status will change after a spouse passes away. That could move you into a higher tax bracket or cause you to lose tax breaks. You can’t file married filing jointly and no longer have two exemptions.

Social Security and Annuity Income. You may also lose your deceased partner's Social Security income. Widows and widowers can claim a Social Security survivor's payment that’s equal to the amount the higher earning spouse received. However, there will now be just one Social Security check coming in, not two. In some instances, pension or annuity payments might also cease. You may see significant changes to income.

Unplanned Withdrawals from Tax-Deferred Accounts. Many people seek to make up lost income, by taking retirement account withdrawals. However, a mistake can trigger both taxes and penalties. Income tax is due on each traditional 401(k) or IRA withdrawal, because when you withdraw tax-deferred money, there are tax consequences. When you make a withdrawal from a spouse's IRA, taxes are due. If you’re not 59½ or older, you could also pay a 10% early withdrawal penalty. Surviving spouses should try to minimize taxes on retirement account withdrawals to help the money last as long as possible.

Paying Taxes on Retirement Account Withdrawals Too Early. A surviving spouse can transfer tax-deferred retirement account assets into his or her name. That frequently lets a person further delay taxation. If you are under 70½, you can defer taxes into the future.

Paying a 10% Early Withdrawal Penalty. If the surviving spouse isn’t yet 59½ and needs some of the money in a retirement account, you can transfer the money into an inherited spousal IRA. If you need money, the IRS will let you take distributions. You’ll have to pay taxes, but you avoid the 10% penalty.

Required Minimum Distributions (RMDs). Distributions from retirement accounts are required after age 70½—even in the year when the spouse passes away. If the decedent was in payout mode and past 70½, make certain that between the decedent and beneficiary, you still take the required minimum distribution. If you forget, there’s a possible penalty of up to 50% of what you should have taken.

Support and Trusted Advisors. The professional advisors you have worked with, like your estate planning attorney, CPA and financial advisors, will be able to help guide you through the necessary tasks at this time. Be aware of strangers who show up with great plans for you—there are many who prey on recent widows or widowers, recognizing their vulnerability.

Reference: U.S. News & World Report (February 15, 2019) “Don't Make These Mistakes When Your Spouse Passes Away”

What Are the Steps to Transfer a Home to Heirs?

Leaving the home to the family is a lovely gesture that can establish a long-time legacy. Generations who share memories of a home are not that common today, making this a special act.

Memories of growing up in a home are part of many American childhoods. However, the family home usually disappears after the children grow up and parents move on to the next phase of their lives. To keep a home in the family takes a fair amount of planning. If that’s something you want to do, advises the day in a recent article, “Planning to leave your home to your heirs,” you’ll need to sit down with an estate planning attorney, as soon as that decision has been made.

Another reason to expedite your estate plan: unexpected and tragic things happen. Without an estate plan, you may not have the guardian for your children who you would want. There may not be sufficient funds for your children’s education. The cost of settling an estate without a will takes a long time, and incurs costs that would not be an issue with an estate plan.

Real estate is frequently given to an adult child, grandchild, or is divided among several heirs. Once you know who will receive the property, discuss your plans with these people to keep them apprised of your plans and avoid any unpleasant surprises.

If you include your home in the will, you can stipulate precisely who should benefit from it. You can also say if you want the home to stay in the family or be sold.

Dividing the interest in a property evenly among beneficiaries might seem fair, but it can also create some unexpected complications. If one beneficiary wants to move into the home and another wants to sell it and split the proceeds, things could get dicey. Discuss this issue with your beneficiaries to resolve this potential conflict in advance. One beneficiary could buy out the other beneficiaries' shares in the property to take sole possession of it. However, you may need a life insurance policy to be sure that the cash is there for a buyout.

A will is also used to delegate responsibilities to certain heirs. You select an executor to oversee the disposition of your estate after your death.

An outstanding mortgage balance can cause some trouble, when passing on a property. Any debts you have at the time of your death, need to be paid before your estate can be settled. If you were still making mortgage payments, be sure your beneficiaries have a plan to avoid a default. Beneficiaries, a surviving spouse, the executor of estate, or any other party can continue to make payments to your bank to avoid a foreclosure process. There are several ways that your beneficiaries can resolve a mortgage, after they take possession of the home. In addition to just selling the property, they can refinance the loan or pay off the mortgage with any assets they have or receive from your estate. That way, they would own the home free and clear.

Review your will regularly to keep it up to date. Make a change if a beneficiary dies, if your own circumstances change, or if your relationship with an heir goes bad.

You can also transfer your home to a living trust. This lets you use and benefit from the asset while living and then transfer it to beneficiaries upon death. This will avoid the probate process and save heirs time and money. The trust document identifies beneficiaries and determines how the estate will be distributed after death. It can also name a trustee to oversee this process and avoid conflict among beneficiaries.

One downside of a living trust is that any outstanding debts must be taken care of before the home and any other assets in the trust can be transferred to beneficiaries.

Another option, if the family is comfortable with it, would be to update the deed of the house to include one of the beneficiaries. If your spouse is not on the deed, this will make the transfer of the house less complicated. In fact, if the deed is titled “transfer on death,” then you own the home outright, until you die. At that point, it passes to any beneficiaries named in the deed.

Similarly, when the deed reads “joint tenant with right of survivorship,” at your death, ownership of the home automatically transfers to any co-owners on the deed.

Talk with your estate planning attorney about your situation and the best way to make this happen. This is a good example of when a family meeting can bring a clear understanding of what the future holds to avoid any misunderstandings.

Reference: the day (February 15, 2019) “Planning to leave your home to your heirs”

What Happens to Family Finances if There’s No Will?

Many older workers focus on saving for retirement, paying off debt and looking forward to a slower pace. They don’t focus on wills and estate plans. That’s a big money mistake.

We don’t think about our estate plan as a financial document, but maybe that would make it more likely that people would actually get their wills, power of attorney and other related documents done. According to a recent article from Motley Fool, “Nearly Half of Americans 55 and Over Are Making This Huge Financial Planning Mistake,” nearly 50% of Americans 55 and older don't have a will. That puts their spouses and heirs in a terrible position.

While creating a will might be uncomfortable, delaying won't keep you from having to contemplate your own mortality. Not creating a will places your family in a tough spot, if something happens and there’s no will.

Another reason that people put off writing their wills, is that they don't want to make their children uncomfortable by getting them involved in the process. Adult children are also frequently hesitant to start a dialog about parents’ estate planning. Nonetheless, those discussions are important to have.

Wills, trusts and estate plans are not just for wealthy people. If you own anything, including a home, a car and any bank accounts, you need an estate plan and that includes a will.

If you don't have a will, you won't have the opportunity to direct the way in which your property is distributed. Instead, the laws of probate will instruct how your investments and belongings are disbursed after your death.

Once you have that will created, keep it in a safe place—no, not in a shoebox under your bed. Instead, buy a fireproof safe and store it there. In addition, give your children or loved ones access, so they're able to locate your will in the event that it’s required.

It’s common to get advice that you should store your will in a safe deposit box at your bank. That works only if your children or other trusted people in your life are permitted access to it. However, if you're the only account holder, your family may need to go through some legal machinations to get into it.  When you enlist the help of an estate planning attorney to create your estate planning documents, she should also retain a copy of it on record. That's another great benefit to having an attorney create your will, rather than going it alone.

We do our taxes every year, whether we want to or not. Think of having your will done every three or four years, or whenever there’s a big change in your life or in the tax laws, as something like taxes: a necessary part of adulthood. If your adult children told you they weren’t filing taxes because they just didn’t get around to it, you would worry about what that might cost them. It’s the same for your estate plan. Get it done this year.

Reference: Motley Fool (February 16, 2019) “Nearly Half of Americans 55 and Over Are Making This Huge Financial Planning Mistake”

Don’t Wait on These Key Estate Planning Documents

Want another way to show your family how much they mean to you? Make sure you have these three critical documents in place, and let them know where they are.

You don’t have to be a globally-recognized musical genius to take care of your family. All you need to do is make an appointment with an estate planning attorney to have three relatively simple documents created. The families of Aretha Franklin, Kurt Cobain, and Prince may have been well-loved by their famous relatives, but none of these bold-face names had a will. Their families were left to engage attorneys and battle with each other and the courts to figure out who gets what.

Motley Fool reports in the article, “3 Must-Have Estate Planning Documents To Get Done This Year,” that dying without a will creates numerous problems for your family. If there are no legal instructions in place, probate law dictates the distribution of your assets and selection of guardians for your minor children, which can cause problems. Regardless of your personal situation, you should think about creating these three important estate planning documents.

1. Will. A will is used to distribute your estate, according to your instructions. A will can say how much and what type of asset each heir will receive, to minimize family fighting after your death. If you have young children, you can designate guardians in your will to be in charge of their care. If you die without a will, the probate judge will order who becomes their guardian.

You also need a will to make charitable bequests, to expedite the probate court process and to reduce or eliminate estate taxes. When you draft your will, you'll appoint trusted people to serve as the executor and the trustee.

2. Living will. A living will can take effect while you are still alive. This is a legal document that sets out your instructions for medical treatment, if you become unable to communicate, such as whether or not you want to be placed on life support. A living will can relieve the emotional burden from your family of having to make difficult decisions.
3. Power of attorney. This legal document helps in the event you’re incapacitated or in the hospital in an unresponsive state. A power of attorney gives the individual you designate the authority to transact financial and legal matters on your behalf. Set up a power of attorney, before you need it. If you don’t and you're unable to make decisions, your family may have to petition the court to get those powers, which costs time and money.

These are not complicated documents and they won’t take years to create. They just need to be done. Call your estate planning attorney and make an appointment. If you haven’t updated these documents in a while, make an appointment for a review. You may not need a completely new estate plan, but there may be changes that need to be made.

Reference: Motley Fool (February 18, 2019) “3 Must-Have Estate Planning Documents To Get Done This Year”