Comprehensive Guide to Revocable Living Trusts in La Vergne
Revocable living trusts can be a central component of a sound estate plan for residents of La Vergne and surrounding areas. This page explains how a revocable living trust functions, who might benefit from one, and what to expect during the planning process at Jay Johnson Law Firm. We focus on practical steps to help you preserve control over your assets while providing a smoother transition for loved ones after incapacity or death. This introduction frames the key considerations that often arise when families decide whether a revocable living trust fits their goals and circumstances.
Understanding revocable living trusts starts with clarifying common objectives: avoiding probate delays, protecting privacy, and planning for incapacity. Many clients seek a solution that allows them to manage assets now while naming someone to step in if they become unable to act. A revocable trust can be modified during the grantor’s lifetime and typically integrates with wills, powers of attorney, and beneficiary designations. This overview sets up the more detailed sections that follow, describing process steps, possible advantages and limitations, and how a plan can be tailored to families in Rutherford County and La Vergne, Tennessee.
Why a Revocable Living Trust Matters for Local Families
A revocable living trust matters because it can reduce delays and public exposure that often accompany probate administration. For many La Vergne households, the primary value lies in maintaining privacy, giving clear instructions for asset management, and enabling a trusted person to manage affairs if the grantor becomes incapacitated. While not a replacement for other planning documents, a trust coordinates with wills and financial planning to create a smoother transition for heirs. Families who place a premium on continuity of management and minimizing court involvement often find a revocable trust aligns with their goals without surrendering control during the grantor’s life.
About Jay Johnson Law Firm and Our Approach to Trust Planning
Jay Johnson Law Firm serves clients across Rutherford County and beyond with a practical, client-focused approach to estate planning and probate matters. The team assists clients in La Vergne by listening to family goals, explaining options in straightforward terms, and drafting documents that reflect those priorities. We emphasize clear communication, thorough document preparation, and realistic timelines so families know what to expect throughout the planning process. Our practice supports individuals through initial planning, updates as life changes, and guidance during transitions to ensure the trust operates as intended when it matters most.
Understanding Revocable Living Trusts: What They Do and How They Work
A revocable living trust is a legal arrangement in which a person, often called the grantor, transfers ownership of assets to a trust during their lifetime while retaining the ability to change or revoke the trust. The grantor names a trustee to manage the trust assets and may name successor trustees to act if they are unable to manage affairs. The trust document sets out how assets are to be managed and distributed, both during incapacity and after death. For many in La Vergne, this structure provides continuity of management and helps avoid the delays of probate court proceedings.
Although a revocable trust does not shield assets from creditors in the same way some other instruments might, it offers flexibility and privacy. Assets retitled into the trust remain under the grantor’s control while they are alive and competent. When the trust is properly funded and paired with supporting documents like a pour-over will and powers of attorney, it can streamline the administration process. The trust also allows for specific instructions about distributions, guardianships for minor beneficiaries, and provisions to handle complex assets or family circumstances.
Defining Revocable Living Trusts in Plain Terms
A revocable living trust is essentially a private contract that sets out how your property will be handled now and in the future. The grantor creates the trust document and places assets into it, usually retaining the authority to change beneficiaries, modify terms, or dissolve the trust entirely while alive. Successor trustees are named to manage or distribute trust property if the grantor cannot. Because the trust avoids probate for assets it holds, beneficiaries may receive property with less administrative delay and without the same level of public disclosure required by court-supervised probate proceedings.
Key Elements and the Steps Involved in Trust Preparation
Preparing a revocable living trust typically involves identifying and transferring assets into the trust, selecting successor trustees, and coordinating related documents like pour-over wills and powers of attorney. The process assesses titles, beneficiary designations, and any retirement or insurance accounts to determine which assets should remain outside or be coordinated with the trust. Careful drafting clarifies distribution timing, conditions, and any instructions for minor beneficiaries or those with special needs. Completing these steps thoughtfully helps ensure the trust functions smoothly when management or distribution becomes necessary.
Important Terms Related to Revocable Living Trusts
Understanding common terms helps clients make informed decisions during estate planning. Key phrases include grantor, trustee, beneficiary, funding, pour-over will, successor trustee, and trust administration. Each term refers to a role or action that shapes how a trust operates. For example, funding refers to the process of retitling assets into the trust. A pour-over will captures assets not moved into the trust during life and directs them into the trust at death. Clarifying these concepts reduces confusion and helps families complete a plan that aligns with their preferences and legal needs in Tennessee.
Grantor
The grantor is the person who creates the revocable living trust and places property into it. While alive, the grantor commonly serves as the initial trustee and retains the power to amend or revoke the trust. The grantor’s directions in the trust document determine how assets are to be used, managed, and ultimately distributed. Selecting a clear grantor role and documenting intent helps ensure the trust reflects the grantor’s wishes and provides a framework for successor trustees to follow if the grantor becomes incapacitated or passes away.
Successor Trustee
A successor trustee is the individual or entity named to take over management of the trust if the grantor is unable to serve or upon the grantor’s death. This person has a fiduciary duty to carry out the terms of the trust and manage assets in the best interests of the beneficiaries. Naming a reliable successor trustee, and providing clear instructions about distribution and management priorities, helps avoid disputes and ensures continuity. Families may choose a trusted family member, friend, or a professional fiduciary to fulfill this role depending on the estate’s complexity.
Funding the Trust
Funding the trust means transferring ownership of assets into the name of the trust so they are governed by the trust document. This often involves retitling real estate, updating account ownership, and changing beneficiary designations where appropriate. Proper funding is essential for the trust to serve its purpose of avoiding probate; assets left outside the trust may still require probate administration. A careful review of asset titles and beneficiary forms ensures that the trust contains the intended property and functions as part of a coordinated estate plan.
Pour-Over Will
A pour-over will functions alongside a revocable living trust to capture any assets that were not transferred into the trust during the grantor’s lifetime and direct them into the trust at death. While a pour-over will still goes through probate for those assets, its purpose is to ensure that all property ultimately ends up governed by the trust’s terms. Using a pour-over will with a funded trust provides a safety net and simplifies distribution instructions, helping to consolidate the estate plan around the trust’s provisions for beneficiaries.
Comparing Revocable Trusts with Other Estate Planning Options
When considering a revocable living trust, it helps to compare it to alternatives such as a simple will, beneficiary designations, or other estate planning tools. A will controls property that passes through probate but is a public record and may involve delays. Beneficiary designations can efficiently transfer certain accounts but do not address management during incapacity. Revocable trusts provide a private framework for both management and distribution, though they require active funding and careful coordination. The right choice depends on family goals, asset types, and preferences for privacy and continuity of management after incapacity or death.
When a Limited Estate Plan May Be Appropriate:
Smaller Estates with Simple Beneficiary Arrangements
For households with modest assets and clear beneficiary designations, a more limited estate plan may suffice. If bank accounts, retirement plans, and life insurance already have direct payee designations and there are no complex property interests, a straightforward will paired with durable powers of attorney could meet needs without the additional steps involved in funding a trust. People in La Vergne who prioritize simplicity and low maintenance often choose this approach while still documenting their wishes for incapacity and end-of-life care.
Families with Clear, Non-Contested Arrangements
When family dynamics are uncomplicated and beneficiaries are in agreement about distributions, a limited plan may offer the appropriate level of protection without complexity. In such cases, a will that names an executor and guardians for minors, together with powers of attorney and updated beneficiary forms, can address most end-of-life and incapacity concerns. This path can be especially practical for those who prefer fewer administrative steps and lower immediate costs while still preserving essential legal protections for loved ones.
Why a Broader Planning Approach Often Makes Sense:
Complex Assets or Multiple Property Types
When a household owns real estate, business interests, or accounts that require specific handling, a comprehensive planning approach helps coordinate titles and beneficiary designations so the overall plan works together. Trusts can hold real estate and business interests to provide seamless management, while complementary documents address incapacity and healthcare decisions. For La Vergne residents with diverse asset types, integrating these elements reduces the risk of unintended outcomes and ensures that distributions follow the grantor’s goals for different categories of property.
Desire for Privacy and Minimized Court Involvement
Families seeking to minimize public court proceedings and preserve privacy often prefer a comprehensive plan centered on a revocable trust. By funding the trust and coordinating supporting documents, many assets can pass outside of probate, resulting in less public exposure of family financial details. Additionally, naming successor trustees and providing detailed instructions can reduce disputes and clarify responsibilities during transitions. For those who value discretion and control over the timing and manner of distributions, a detailed plan tailored to personal circumstances can provide peace of mind.
Benefits of Choosing a Comprehensive Trust-Based Plan
A comprehensive plan that centers on a revocable living trust offers coordinated management for incapacity and death, privacy in handling distributions, and a potential reduction in delays associated with probate. It gives families a single framework for directing how assets should be handled, who will manage them, and under what conditions distributions should occur. When combined with powers of attorney and healthcare directives, the trust becomes part of a complete approach that addresses legal, financial, and health-related contingencies in a consistent manner tailored to family priorities.
Another important benefit of a thorough planning process is the opportunity to anticipate life changes and build flexibility into the documents. Trust provisions can allow for phased distributions, protections for minor beneficiaries, and procedures for handling family property or closely held business interests. Regular review and updates help keep the plan aligned with changes in family circumstances, tax rules, or asset holdings. Taking time to coordinate all elements reduces the chance of surprises and helps ensure your wishes are carried out with minimal administrative friction.
Continuity of Asset Management During Incapacity
One of the most practical advantages of a revocable trust is that it allows for uninterrupted management of assets if the grantor becomes incapacitated. A successor trustee can step in without the need for a court-appointed guardian, following the directions set out in the trust document. This continuity helps maintain payment of bills, management of investment accounts, and oversight of real property. For families concerned about the burden and delay that court involvement can create, having a named trustee ready to act provides an orderly solution that preserves value and reduces family stress.
Privacy and Reduced Probate Administration
A revocable trust can limit the need for probate court review for assets properly titled in the trust, which helps keep distribution details private and can shorten the timeline for transferring property to beneficiaries. Probate often requires filing documents and inventories that are public record, whereas trust administration generally occurs outside the courthouse. For those who value discretion and want to reduce administrative steps for survivors, the trust provides a private mechanism for implementing the grantor’s wishes while easing the procedural burden that probate may impose on family members.
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Practical Tips When Setting Up a Revocable Living Trust
Inventory assets and review titles early
Before creating a trust, gather documentation for bank accounts, deeds, investment accounts, retirement plans, and insurance policies to determine what should be included or coordinated. Reviewing titles and beneficiary designations early prevents common funding mistakes that can leave assets outside the trust. Keep a clear list of account numbers, property deeds, and contact information for financial institutions. This preparation makes the funding process smoother and helps ensure the trust operates as intended when management or distributions are needed.
Name successor trustees and discuss expectations
Review and update the plan periodically
Life changes such as marriage, divorce, births, deaths, or significant asset transfers can affect how a trust should operate. Regularly reviewing the trust and related documents ensures they reflect current wishes and asset holdings. Make updates when necessary to beneficiary designations, trustee appointments, or distribution instructions. Periodic review also helps align the trust with any changes in state law or tax considerations that could influence estate planning goals for La Vergne families.
Reasons to Consider a Revocable Living Trust in La Vergne
Many families in Rutherford County consider a revocable living trust to provide continuity during incapacity, reduce the administrative burdens of probate, and preserve privacy for estate matters. The trust offers the flexibility to adapt over time while giving clear instructions for management and distribution. For property owners, those with blended families, or anyone seeking to minimize court involvement, a trust-centered estate plan can address a variety of concerns. Evaluating your objectives and asset profile helps determine whether this planning tool is a good fit for your circumstances.
Choosing a revocable trust also supports coordinated planning for health and financial decisions by working alongside durable powers of attorney and healthcare directives. It allows you to name who should manage finances and who should make healthcare decisions if you become unable to do so. This coordinated approach helps protect daily living arrangements and long-term management of property without immediate court oversight. Families appreciate the clarity and control this planning method can provide when preparing for the unexpected.
Common Situations Where a Trust-Based Plan Helps
Trust-based planning is often helpful when owners have real estate, retirement accounts, or business interests that require coordinated handling. It is also useful for families seeking to provide staged distributions to beneficiaries, protect privacy, or avoid the delays associated with probate. Those with blended families or minor children frequently use trusts to set clear terms for guardianship, support, and inheritance timing. In each situation, tailored drafting and careful funding determine how effectively the trust meets the family’s goals and reduces administrative burden after incapacity or death.
Own Real Estate or Multiple Properties
When you own homes, rental properties, or land, placing real estate into a trust can make management and transfer simpler if you become incapacitated or when property passes to heirs. The trust can specify how properties are to be managed, whether they may be sold, and how proceeds should be distributed. Retitling deeds to the trust helps ensure that the properties are governed by the trust document and can avoid separate probate for each parcel, saving time and expense for your family.
Have Minor Children or Complex Family Dynamics
Families with minor children or blended households often use trusts to provide for guardianship, education funding, and staged distributions that protect assets until beneficiaries reach an age or milestone. A trust can set terms for how and when funds are used, reducing the likelihood of premature depletion of assets and ensuring that a trusted person manages resources in the child’s best interest. Clear instructions also help reduce disputes among family members at emotionally sensitive times.
Own a Business or Have Specialized Asset Types
If you own a small business or hold assets that require ongoing management, a trust can facilitate continuity and provide authority for a successor to operate or liquidate interests on behalf of beneficiaries. Provisions can address business governance, decision-making authority, and timelines for transferring ownership. Coordinating business succession with estate planning helps protect legacy interests and reduce uncertainty for employees, partners, and family members who may be affected by ownership transitions.
Local Estate Planning and Probate Services in La Vergne
Jay Johnson Law Firm provides estate planning and probate assistance to residents of La Vergne and Rutherford County, focusing on practical solutions that fit local needs. We guide clients through the process of creating revocable trusts, funding them, and coordinating related documents so plans operate smoothly. Our goal is to make planning accessible and understandable, helping families decide whether a trust is right for them and ensuring that documents are prepared properly to accomplish their objectives in Tennessee.
Why Choose Jay Johnson Law Firm for Trust Planning
Choosing representation for estate planning is an important decision. Jay Johnson Law Firm emphasizes clear communication, careful document preparation, and responsiveness to client concerns. For residents of La Vergne, our approach centers on listening to family goals, explaining options in plain language, and developing a plan that aligns with those priorities. We help clients evaluate whether a revocable living trust or another arrangement best meets their situation and then draft documents designed to achieve the selected outcome.
Our process includes a detailed review of assets and beneficiary designations, guidance on funding the trust, and coordination of pour-over wills and powers of attorney. We work to anticipate common pitfalls and make adjustments to the plan as life changes occur. Clients benefit from having documents that are organized, legally sound, and ready for administration when needed, reducing uncertainty for family members during transitions.
In addition to drafting documents, we provide ongoing support for revisions and answer questions that arise over time. Estate plans are living documents that should be revisited as circumstances change, and we encourage periodic reviews to ensure that the plan continues to reflect current wishes and asset holdings. Our goal is to deliver peace of mind by making the planning process straightforward and manageable for families in Rutherford County.
Get Started with a Trust Consultation in La Vergne
How We Prepare Revocable Living Trusts at Our Firm
Our process for creating a revocable living trust includes an initial consultation to understand goals, a detailed inventory of assets, drafting of the trust document and related instruments, and assistance with funding the trust. We explain the choices involved, recommend successor trustees, and coordinate beneficiary designations. After documents are finalized, we provide guidance on next steps to retitle property and update accounts. This organized workflow helps clients manage the administrative tasks efficiently and reduces the risk of assets being left outside the trust.
Step One: Initial Planning and Asset Inventory
The first step is to discuss your objectives and complete an inventory of assets to determine what should be included in the trust. We review deeds, account statements, and beneficiary forms to identify titles that require retitling or coordination. This stage clarifies immediate priorities, potential complications, and whether a revocable trust will address the family’s goals. Clear documentation at this stage prevents common oversights and lays the groundwork for accurate drafting and efficient funding.
Discuss Goals and Family Circumstances
During the initial meeting, we explore your objectives for distribution, concerns about incapacity, and any special family needs that should be addressed in the trust. Topics often include guardianship for minors, provisions for beneficiaries with disabilities, and how to handle personal property. Understanding these priorities helps tailor the trust’s provisions and identify whether additional documents, such as separate trusts or guardianship directives, are needed to achieve the desired outcomes.
Review Titles and Beneficiary Designations
A thorough review of property titles and beneficiary forms reveals which assets require retitling or other adjustments to ensure the trust governs them. We examine deeds, account registrations, and retirement plan beneficiary designations to map out a funding plan. Identifying mismatches or outdated designations early prevents later complications and helps ensure the trust will operate as intended for the benefit of named beneficiaries.
Step Two: Drafting and Document Preparation
Once goals and asset inventories are clear, we draft the trust document and supporting paperwork, including pour-over wills, powers of attorney, and healthcare directives. Drafting focuses on clear instructions for management, naming successor trustees, and specifying distribution terms. We tailor language to reflect your priorities and coordinate all documents so they function together. Careful drafting reduces ambiguity and streamlines administration when documents are put into effect.
Prepare Trust Provisions and Instructions
Drafting the trust provisions involves specifying who will receive assets, when distributions should occur, and any conditions or instructions for management. This includes addressing how income should be handled, whether distributions should be staggered, and how to manage property for minors. Clear language avoids misunderstandings and helps trustees carry out your intentions with confidence when the time comes.
Draft Supporting Documents
Supporting documents such as durable powers of attorney and healthcare directives are prepared alongside the trust to ensure comprehensive planning. A pour-over will captures assets not placed into the trust during life and directs them into the trust at death. Together these instruments create a full planning package that addresses management during incapacity and distribution at death, improving coordination and reducing potential gaps in protection.
Step Three: Funding and Finalization
The final step is funding the trust by retitling assets, updating account registrations, and confirming beneficiary designations where applicable. We provide instructions and assistance for transferring deeds, bank accounts, and investment property into the trust, as needed. Ensuring assets are properly funded is essential for the trust to accomplish its goals. After funding, we recommend storing documents securely and scheduling periodic reviews to keep the plan current with life changes and legal developments.
Retitle Real Property and Accounts
Retitling real estate and financial accounts into the trust name completes the funding process and allows the trust terms to govern those assets. We can coordinate with title companies, banks, and account custodians to facilitate transfers and avoid errors. Properly completed retitling reduces the likelihood of assets being subject to probate and helps trustees manage property efficiently if intervention becomes necessary due to incapacity or death.
Confirm Beneficiary Designations and Document Storage
After funding, we confirm that beneficiary designations on retirement plans and insurance policies align with the overall estate plan and provide guidance on secure document storage. Keeping copies accessible to successors and advisors, along with clear instructions for where originals are located, helps ensure a smooth transition. Periodic reviews maintain alignment with evolving family circumstances and asset changes over time.
Frequently Asked Questions About Revocable Living Trusts
What is a revocable living trust and how does it work?
A revocable living trust is a legal arrangement in which you place assets into a trust during your lifetime while retaining the ability to modify or revoke the arrangement. The trust document identifies who will manage the trust during your incapacity and who will receive assets after your death. While you are capable, you typically serve as trustee and retain control over the property. The trust provides instructions for successor trustees to follow, enabling a smoother handoff of management and distribution duties when necessary.The trust commonly works alongside supporting documents such as a pour-over will and powers of attorney. Proper funding of the trust by retitling assets into the trust is essential for it to function as intended. When assets are titled in the trust name, they are generally managed and distributed according to the trust document, which can lessen the need for probate for those specific assets and provide privacy for beneficiaries.
Will a revocable living trust avoid probate in Tennessee?
A revocable living trust can help avoid probate for assets that are properly titled in the trust, but it does not automatically avoid probate for every asset you own. Accounts with beneficiary designations, jointly held property, and assets not retitled into the trust may still be subject to probate. To achieve the intended probate-avoidance benefits, it is important to coordinate titles and beneficiary forms so that the trust contains the assets you want to transfer outside of probate.Probate rules vary by state, and Tennessee has procedures that apply to estates depending on size and asset types. While a funded revocable trust can reduce the properties that must pass through probate, retaining appropriate documentation and following correct transfer procedures are key to reaping those benefits. A comprehensive review of accounts and deeds helps ensure the plan functions as expected.
How do I fund a revocable living trust?
Funding a revocable living trust involves transferring ownership of assets into the trust name. This process typically includes retitling real estate deeds into the trust, changing the registration of bank and brokerage accounts, and consulting with account custodians about how to hold other investments. You will also want to review beneficiary designations for retirement accounts and insurance policies to determine whether to coordinate those with the trust or leave direct payee designations in place.Effective funding requires attention to documentation and, in some cases, the assistance of title companies or financial institutions to update registrations. Leaving assets outside the trust can create gaps that require probate, so a systematic approach to retitling and documenting transfers helps ensure the trust holds the intended property and functions properly when management or distributions are necessary.
Can I change or revoke my trust after it is created?
Yes, a revocable living trust is designed to be flexible. As the grantor, you typically retain the right to amend, modify, or revoke the trust at any time while you have capacity. This flexibility allows you to update beneficiaries, change distribution terms, or alter trustee arrangements as life circumstances evolve. The trust document should spell out how changes may be made and any formalities required to ensure amendments are effective.Because the trust is revocable, it does not provide the same asset protection as some irrevocable arrangements, but its flexibility is often valued by individuals who want to retain control. Regular reviews and documented amendments ensure that the trust remains aligned with your goals as family dynamics, finances, or legal requirements change over time.
Who should I name as a successor trustee?
Selecting a successor trustee is an important decision because this person will manage the trust if you become unable or after your death. Consider someone who is trustworthy, organized, and willing to carry out the responsibilities involved, which include managing assets, paying debts and taxes, and following distribution instructions. Some people choose a trusted family member or friend, while others name a professional fiduciary or institution when impartial administration is preferred.It is also wise to name alternate trustees in case the first choice is unable or unwilling to serve. Discussing the role ahead of time with the person you plan to name helps ensure they understand the duties and are comfortable with the responsibility. Clear written guidance in the trust document can make the transition smoother and reduce potential family disputes.
How does a revocable trust affect taxes?
For most individuals, a revocable living trust does not change income tax treatment or eliminate estate taxes on its own because the grantor typically retains control over the assets while alive. Income generated by trust assets is usually reported on the grantor’s tax return. Estate tax considerations depend on the value of the estate and current tax laws. Tennessee does not have a separate estate tax, but federal estate tax rules may apply to very large estates, and planning can address those concerns when relevant.Because tax rules may change and individual circumstances vary, it is prudent to consider tax implications as part of the planning process. Coordinating trust provisions with overall tax planning, beneficiary designations, and potential portability of estate tax exemptions ensures the trust works effectively within a broader financial strategy tailored to your situation.
What happens to my trust if I move out of state?
If you move out of Tennessee, your revocable living trust generally continues to operate according to the terms you established, but certain technical considerations may arise. State law differences can affect administration processes, real property procedures, or how courts in a new state handle trust matters. It is advisable to review the trust after a move to ensure that provisions remain consistent with your new state’s requirements and to update any references to state-specific procedures if necessary.Practical steps after relocating include checking whether real estate in Tennessee remains properly titled and whether any state-specific documents should be updated. Regular review helps prevent unexpected complications and ensures that the trust and supporting documents continue to reflect your wishes and respond to legal requirements in your new residence.
Do I still need a will if I have a revocable trust?
Yes, you typically still need a will even if you have a revocable living trust. A pour-over will serves as a safety net to capture any assets that were not transferred into the trust during life and directs them into the trust at death. While the pour-over will itself may require probate for those assets, it helps ensure that assets are ultimately governed by the trust’s terms and provides a clear fallback so that nothing is inadvertently left without direction.A will also remains the primary instrument for naming guardians for minor children and handling any matters that are outside the trust’s scope. Maintaining a coordinated set of documents, including a trust and a pour-over will, supports comprehensive planning and reduces the chance of unexpected gaps in your estate plan.
How often should I review my trust documents?
It is wise to review your trust documents periodically and after major life events. Changes such as marriage, divorce, births, deaths, significant asset purchases or sales, and changes in beneficiary circumstances can all affect how your trust should operate. A planned review every few years, or following a significant change, ensures documents remain aligned with current wishes and asset ownership.During reviews, verify that assets remain properly funded in the trust, beneficiary designations are up to date, and trustee appointments reflect current preferences. Making timely updates prevents unintended results and helps keep the plan ready to serve its purpose when management or distribution becomes necessary.
What should I bring to my first planning meeting?
For an initial planning meeting, bring documentation that outlines your assets and existing estate-related documents. This includes deeds for real property, account statements for bank and investment accounts, retirement plan and insurance policy information, and copies of any existing wills, trusts, or powers of attorney. Having this information available helps identify what should be included in a trust and what steps are needed to fund it.Also be prepared to discuss family circumstances and goals for the distribution of assets, guardianship for minor children if applicable, and any preferences for successor trustees. Providing clear information up front allows the planning process to proceed efficiently and ensures that drafted documents reflect your priorities and the realities of your asset holdings.