Complete Guide to Revocable Living Trusts in Bluff City
A revocable living trust is a flexible estate planning tool that allows Bluff City residents to manage assets during life and provide for an orderly transfer after death. At Jay Johnson Law Firm we help clients design trusts that match their family dynamics and financial goals. This guide explains how a revocable living trust works, what it can and cannot accomplish, and how it interacts with wills, beneficiary designations, and Tennessee probate laws. Whether you have a modest estate or larger holdings, understanding these basics will help you make informed decisions about protecting your property and reducing stress for your loved ones.
Creating a revocable living trust involves careful consideration of who will control the trust while you are alive, who will manage it if you become incapacitated, and who will receive assets after your death. We discuss naming a trustee, funding the trust, and keeping it up to date as life changes occur. This page outlines practical steps, common benefits, and potential limitations so you can determine if a revocable living trust suits your situation in Bluff City and Sullivan County. If you prefer, call Jay Johnson Law Firm at 731-206-9700 to discuss your circumstances and next steps.
Why a Revocable Living Trust Matters for Your Family
A revocable living trust offers several meaningful benefits for Bluff City families who want to streamline asset management and succession. It can simplify the distribution of property, potentially avoid a lengthy probate process, and provide a plan for managing your affairs if you become unable to act. Trustees can be selected to follow clear instructions for asset care and distribution, and the trust terms can be updated as circumstances change. While not all situations require a trust, many clients find peace of mind knowing their loved ones will face fewer administrative hurdles and clearer direction after a death or incapacity.
About Jay Johnson Law Firm and Our Approach in Tennessee
Jay Johnson Law Firm serves Bluff City and surrounding communities with practical guidance in estate planning and probate. Our approach emphasizes responsive client communication, careful document drafting, and planning that fits the realities of Tennessee law. We work directly with families to gather financial information, clarify goals, and prepare trust documents that reflect those goals while maintaining flexibility for future changes. Clients appreciate clear explanations about trust funding, trustee duties, and how a revocable living trust interacts with other estate documents so decisions are informed and durable over time.
Understanding Revocable Living Trusts
A revocable living trust is a legal arrangement in which a person places assets into a trust they can amend or revoke during their lifetime. The individual typically serves as trustee initially, retaining control over trust assets while designating a successor trustee to take over if they become incapacitated or pass away. Funding the trust means retitling assets in the trust’s name or naming the trust as beneficiary. This mechanism can make the asset transfer process simpler for survivors by reducing the need for court-supervised probate and providing a written roadmap for distribution and management.
While a revocable living trust offers control and continuity, it does not replace other estate planning components such as durable powers of attorney and advance healthcare directives. Proper coordination ensures the trust addresses financial property while other documents cover medical decisions and authority to act on your behalf. Additionally, certain assets like retirement accounts and life insurance often pass by beneficiary designation and may require planning alongside a trust. Understanding these interactions helps Bluff City residents implement a cohesive plan that reflects personal priorities and Tennessee legal requirements.
Definition and How a Revocable Living Trust Works
A revocable living trust is an arrangement where the trustmaker transfers legal ownership of assets to a trust vehicle while retaining the right to change terms or dissolve the trust. The trust document names a trustee to manage assets and a successor trustee to step in when needed. Trust terms specify who receives property and under what conditions. Because the trustmaker retains control, assets remain accessible during life. However, after death the successor trustee can manage and distribute trust property according to the instructions, often avoiding probate and providing a smoother transition for beneficiaries compared to relying solely on a will.
Key Elements and Steps in Creating a Revocable Living Trust
Creating a revocable living trust involves several practical steps: identifying assets to include, preparing a trust document with clear terms and successor trustee designations, transferring ownership or beneficiary designations as needed, and maintaining records to show the trust is funded. It is important to review titles on real property, bank and investment accounts, and documents like vehicle titles. Periodic review ensures the trust reflects changes such as new assets, marriages, births, or changes in relationships. Ongoing administration involves careful recordkeeping and following the trust’s instructions when distributions or changes occur.
Key Terms and Glossary for Trust Planning
A compact glossary can clarify commonly used trust planning terms that arise when discussing revocable living trusts. Terms such as trustee, settlor, beneficiary, funding, successor trustee, probate, and durable power of attorney are frequently referenced in planning conversations. Understanding these definitions helps clients make decisions and follow the steps needed to create and maintain a trust. Clear terminology reduces confusion during estate administration and ensures that family members and fiduciaries know their roles and responsibilities, which contributes to smoother outcomes when the trust must be administered.
Trustee
A trustee is the person or entity responsible for managing trust assets according to the trust’s terms. While the trustmaker often serves as initial trustee during their lifetime, a successor trustee is named to manage affairs if the trustmaker becomes incapacitated or dies. Trustee duties include safeguarding assets, paying debts and expenses, providing accountings when required, and distributing property to beneficiaries as directed. Trustees must act in good faith, follow the trust document, and maintain records. Choosing a trustee who can handle financial and administrative responsibilities is a key planning consideration.
Funding
Funding refers to the process of transferring ownership or control of assets into the trust so that the trust owns or controls those assets. Proper funding may involve retitling real estate deeds, changing account registration, or assigning ownership of personal property. Without funding, a trust may hold little practical effect because assets remaining in the creator’s name may still be subject to probate. Funding requires careful review of each asset type to ensure titles and beneficiary designations align with the trust plan and that the trust accomplishes the intended goals for seamless administration and distribution.
Settlor
The settlor, sometimes called the trustmaker, is the person who creates and funds the revocable living trust. The settlor establishes the trust terms, names trustees and beneficiaries, and retains the ability to modify or revoke the arrangement during life. The settlor’s instructions within the trust determine how assets are managed, who can act on behalf of the trust, and how distributions will occur. Clearly articulating the settlor’s intentions in the trust document helps reduce ambiguity and guides the successor trustee when administering the trust.
Successor Trustee
A successor trustee steps into the trustee role if the original trustee becomes incapacitated or dies. This person or institution is responsible for carrying out the trust’s instructions, managing assets, and making distributions to beneficiaries. Selecting an appropriate successor trustee involves considering availability, willingness to serve, and ability to manage financial and administrative responsibilities. It is also common to name alternate successor trustees in case the first choice cannot serve. Clear successor trustee designations reduce potential conflicts and ensure continuity when trust administration becomes necessary.
Comparing Estate Planning Options
When planning for asset transition and incapacity, Bluff City residents commonly weigh revocable living trusts against wills and other arrangements. A will supervises distribution through probate and allows guardianship nominations for minor children, while a revocable living trust can provide ongoing asset management and may reduce the need for probate. Durable powers of attorney and healthcare directives complement these choices by designating decision-makers for financial and medical matters. Evaluating each option in light of family dynamics, asset types, and privacy concerns helps determine the most appropriate combination of documents for a comprehensive plan.
When a Will-Only Plan May Be Sufficient:
Smaller Estates with Simple Asset Structures
For individuals with smaller estates and straightforward asset ownership, relying primarily on a will and basic powers of attorney may meet planning needs without the added steps of trust funding. When assets pass directly to beneficiaries by beneficiary designation or joint ownership, probate administration may be relatively simple. In such cases, the administrative burden and costs of configuring and funding a trust might not provide proportional benefits. It remains important, however, to ensure beneficiary designations are current and that powers of attorney and health directives are in place to address incapacity.
Limited Need for Ongoing Management or Privacy
If privacy and ongoing management are not major concerns, a straightforward will-based plan along with durable powers of attorney may suffice. Wills can direct property distribution and provide for guardianship of minors, while powers of attorney allow others to act on your behalf if needed. For those with uncomplicated family situations and few assets requiring active management, a trust might offer little additional value. Periodic review to confirm documents align with current circumstances ensures any will-based plan remains effective and that beneficiary designations are consistent with overall intentions.
Why a Comprehensive Trust Plan Can Be Beneficial:
When Avoiding Probate and Ensuring Continuity Matters
Clients who prioritize avoiding probate, maintaining privacy, and ensuring continuous management of assets often benefit from creating and funding a revocable living trust. A funded trust provides a mechanism for a successor trustee to manage affairs without court intervention, which can reduce delay and public disclosure associated with probate. This continuity can be especially important for families with complex holdings, rental properties, or blended family dynamics. Thoughtful planning can also reduce stress for loved ones by providing clear instructions for management and distribution.
When Incapacity Planning and Detailed Instructions Are Important
A revocable living trust is valuable when you want detailed instructions for asset management during incapacity, not just after death. Naming a successor trustee and providing clear powers and limitations allows someone you trust to step in promptly and manage finances according to your directions. This arrangement can prevent delays in paying bills, managing investments, or caring for property, and it may reduce family disagreements by providing written guidance. Combined with powers of attorney and health directives, a trust offers a fuller plan for both incapacity and estate distribution.
Benefits of Taking a Comprehensive Trust-Based Approach
Adopting a comprehensive approach that includes a revocable living trust along with complementary documents helps ensure financial affairs and personal wishes are coordinated. This approach offers flexibility to change arrangements as life evolves, continuity for asset management if incapacity occurs, and smoother transitions for beneficiaries after death. It also allows for more detailed distribution instructions, which can be tailored to protect certain beneficiaries or manage the timing of distributions. Regular reviews keep the plan aligned with new assets, changes in family relationships, and updates to Tennessee law.
A comprehensive plan reduces uncertainty by centralizing instructions for financial management and legacy decisions. The trust document can address a range of scenarios and work together with powers of attorney and healthcare directives to cover both financial and medical concerns. When documents are coordinated, successors and family members have clearer guidance and fewer administrative obstacles. This coordinated approach supports orderly administration and may make it easier for trustees to fulfill duties responsibly while honoring the trustmaker’s intentions over time.
Greater Control Over Asset Distribution
A revocable living trust allows you to set specific conditions and timing for distributions to beneficiaries, offering control beyond what a simple will can provide. You can specify how assets are used, protect distributions for younger beneficiaries, and stagger payments over time to preserve long-term financial stability. This level of customization helps align distribution timing with beneficiaries’ needs and reduces the risk of assets being squandered or mismanaged. Clear trust provisions also make trustee duties more straightforward and reduce ambiguity during administration.
Reduced Public Administration and Potential Time Savings
When properly funded, a revocable living trust can limit the amount of property that must pass through probate, which often reduces public exposure of estate details and can shorten administration times for certain assets. While not every asset is eligible to avoid probate, a trust-centered plan coordinates transfers and beneficiary designations to minimize court involvement where possible. The resulting efficiencies can ease administrative burdens on family members and allow the successor trustee to focus on managing assets and honoring the trust’s directions rather than navigating extensive court procedures.
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Practical Tips for Revocable Living Trusts
Start by listing assets and titles
Begin the trust process by compiling a detailed inventory of your assets, including real property, bank and investment accounts, retirement accounts, and personal property. Identify current title holders and beneficiary designations so you can determine what must be retitled or coordinated with the trust. This preparation streamlines funding steps and reduces the likelihood of assets being overlooked. Clear records also make it easier to transfer property into the trust and help your successor trustee understand the estate’s composition when administration becomes necessary.
Name a reliable successor trustee and alternates
Review the trust after major life events
Revisit your trust after major events such as marriage, divorce, births, deaths, or substantial changes in assets. Life events often require updates to beneficiaries, trustees, or distribution instructions to keep the plan current. Periodic review also ensures beneficiary designations and account titles remain aligned with trust goals. Maintaining up-to-date documents avoids unintended results and reduces confusion for family members during administration. Regular reviews provide peace of mind that the trust continues to reflect your wishes and adapts to shifting circumstances.
Reasons to Consider a Revocable Living Trust in Bluff City
Residents of Bluff City may consider a revocable living trust for reasons that include avoiding probate for certain assets, maintaining continuity of management during incapacity, and achieving more precise control over how and when assets are distributed. Trustees can be given explicit duties and timelines, which reduces ambiguity and helps beneficiaries understand the intended use of assets. For households with real estate, rental properties, or blended family concerns, a trust can provide a coordinated approach that aligns with family needs and Tennessee law while offering a measure of privacy compared to probate proceedings.
A revocable living trust can also support incapacity planning by allowing a successor trustee to manage finances without court appointment. This reduces delay in paying bills and handling financial responsibilities when incapacity occurs. Careful coordination with powers of attorney and healthcare directives ensures that medical and financial decisions remain in trusted hands. For those who want to leave a clear legacy and ease administrative burdens on loved ones, a trust-based plan often provides a structured, adaptable solution that can be updated as circumstances change over time.
Common Situations Where a Trust May Be Helpful
Typical situations where people consider a revocable living trust include owning real property outside joint tenancy, having beneficiaries who may need staged distributions, wanting to avoid public probate, and needing a plan for management during incapacity. Blended families frequently use trusts to balance interests among spouses and children, and owners of rental or business properties may use trusts to provide seamless management in difficult times. Reviewing personal circumstances with legal guidance helps determine whether a trust will meaningfully address your objectives and reduce administrative burdens for heirs.
Owning Real Estate or Multiple Properties
Individuals with real estate holdings, particularly properties in different ownership forms or multiple parcels, often find that a trust simplifies transfer and management. Placing deeds into the trust can reduce the need for probate administration for those properties and allow a successor trustee to manage or sell assets when appropriate. This arrangement supports continuity of property oversight and can streamline handling taxes, insurance, and rental management. Ensuring titles are properly transferred to the trust is an important administrative step to realize these potential benefits.
Planning for Incapacity and Ongoing Management
When there is concern about the possibility of incapacity, a revocable living trust provides a clear mechanism for a successor trustee to handle financial matters without court intervention. This continuity reduces delays in paying bills, managing investments, and protecting property. Combined with durable powers of attorney and healthcare directives, the trust forms part of a comprehensive incapacity plan. Having named decision-makers and written instructions lessens family uncertainty and supports more efficient management during periods when you cannot act personally.
Providing for Minor Children or Vulnerable Beneficiaries
A revocable living trust allows you to set terms for how minors or vulnerable beneficiaries receive assets, including timing and conditions for distributions. This control can protect inheritances until beneficiaries reach maturity or meet specific milestones, and it can require trustees to manage funds prudently for ongoing needs. Clear provisions reduce the risk of misuse and provide a structured plan for financial support. Trust terms can also appoint guardianship recommendations for minors, coordinating broader estate planning to address both care and financial concerns for children.
Local Trust and Estate Planning Services in Bluff City
Jay Johnson Law Firm is available to discuss revocable living trusts and broader estate planning needs with Bluff City residents. We provide practical guidance on drafting trust documents, funding trusts, and coordinating related instruments such as powers of attorney and health directives. Our team will listen to your goals, explain options under Tennessee law, and prepare documents that reflect your wishes. To arrange a consultation or ask questions by phone, contact the office at 731-206-9700. We aim to make the planning process understandable and manageable for families at every stage.
Why Choose Jay Johnson Law Firm for Trust Planning
Clients turn to Jay Johnson Law Firm for personalized attention to estate planning and trust administration matters in Sullivan County and beyond. We focus on clear communication, careful drafting, and practical solutions that fit each client’s circumstances. From initial planning through funding and ongoing review, we help ensure documents reflect current intentions and Tennessee legal requirements. Our goal is to make the process manageable for you and to leave a durable plan that reduces uncertainty for surviving family members.
We assist with each step of trust implementation, including reviewing asset titles, preparing the trust document, and advising on funding actions. That hands-on approach helps minimize oversights that could limit the trust’s effectiveness. Our team coordinates with financial institutions and other professionals when necessary, ensuring assets are situated to accomplish the plan. Regular reviews allow updates to reflect new assets, changing family circumstances, or revisions in personal priorities, keeping the plan useful over time.
Clients value a practical planning process that explains the reasons for each document and the administrative steps that follow signing. We aim to reduce client stress by clarifying responsibilities for trustees and beneficiaries and by preparing instructions that are straightforward to follow. If disputes arise, our prior planning often helps prevent misunderstandings by documenting clear intentions. For personalized guidance about revocable living trusts in Bluff City, call Jay Johnson Law Firm at 731-206-9700 to schedule a conversation.
Contact Jay Johnson Law Firm to Discuss Your Trust Planning Needs
How We Handle the Trust Planning Process
Our process begins with a focused consultation to understand your family, assets, and planning goals. We then develop a trust structure tailored to those objectives and prepare the necessary documents for review. After signing, we assist with funding steps and provide guidance on maintaining and updating the plan as life changes occur. Clear communication and thorough documentation help ensure the trust functions as intended and that successor trustees can administer the estate with confidence when the time comes. This approach aims to make planning efficient and dependable.
Step One: Planning and Document Preparation
The initial step focuses on gathering information about assets, family relationships, and goals to design the trust structure that best fits your needs. We prepare the trust document, powers of attorney, and healthcare directives with precise language that addresses chosen outcomes. Review sessions allow you to confirm terms and ask questions before finalization. Thoughtful drafting reduces ambiguity and lays the foundation for successful administration. We also advise on the specific funding steps required once the trust document is executed.
Gather Financial and Family Information
Collecting a complete inventory of assets and beneficiary designations is essential to ensure the trust covers intended property. We ask about real estate, bank accounts, retirement plans, life insurance, business interests, and personal items that may require special handling. Understanding family relationships, caregiving needs, and beneficiary circumstances helps shape distribution instructions that meet long-term goals. This information allows us to identify items that require retitling or designation changes and to plan for potential tax or administrative concerns in Tennessee.
Draft Trust Documents and Ancillary Instruments
After gathering information we draft the trust document along with supporting instruments like durable powers of attorney and advance healthcare directives. The trust specifies trustee powers, successor trustee appointments, and distribution rules. Supporting documents cover authority to manage finances and healthcare decisions in case of incapacity. We review each draft with you and adjust language to reflect personal preferences and family considerations. Final documents are prepared for signing with instructions for proper execution and next steps for funding the trust.
Step Two: Execution and Funding
Once documents are signed, the trust must be funded to achieve its intended benefits. Funding involves retitling property, changing account registrations, and updating beneficiary designations where appropriate. We provide a checklist and assist with forms and deed preparation to transfer real property into the trust. Proper funding is essential to reduce the likelihood of assets remaining probate-bound. This stage often requires coordination with banks, financial institutions, and county recording offices to ensure transfers are accomplished correctly under Tennessee procedures.
Transfer Titles and Update Account Registrations
Funding the trust typically involves preparing deeds to place real estate into the trust and changing titles on bank and brokerage accounts to the trust name. We prepare the necessary documents and guide you through steps required by financial institutions. Some assets such as retirement accounts remain payable on death to designated beneficiaries and should be coordinated with the trust plan. Accurate recordkeeping and confirmation of transfers help ensure the trust functions as intended and that the successor trustee can access assets without unnecessary delay.
Coordinate Beneficiary Designations and Agreements
Certain assets pass by beneficiary designation or contract and must be coordinated with your trust to match overall goals. We review life insurance, retirement accounts, and payable-on-death accounts to determine whether beneficiary changes or designations should point to the trust or to named individuals. Where contracts or business interests are involved, we assess any transfer restrictions and advise on steps to align those assets with the trust plan. This coordination prevents conflicts and makes administration more straightforward for successors.
Step Three: Ongoing Review and Administration
After the trust is in place, periodic reviews ensure documents reflect current intentions, asset holdings, and family circumstances. Life events such as births, deaths, marriages, divorces, or significant financial changes often require updates to trust terms or beneficiary designations. We provide guidance on administrative duties for trustees, including recordkeeping, tax filings when necessary, and steps for making distributions. Regular maintenance keeps the plan effective and reduces the chance of unintended outcomes during administration.
Regular Plan Reviews
Schedule reviews every few years or after major life changes to confirm the trust and related documents remain accurate. During a review we check for new assets, updates needed for beneficiaries or trustee appointments, and revisions to account registrations. These updates help preserve the trust’s intended effect and minimize administrative surprises for successors. Staying proactive about reviews also ensures your plan adapts to evolving personal and legal circumstances that could otherwise limit its effectiveness.
Trust Administration Guidance for Successors
We provide resources and guidance to successor trustees about recordkeeping, distribution procedures, and legal obligations under Tennessee law. Proper administration involves inventorying assets, notifying beneficiaries, paying debts and expenses, and distributing property according to trust terms. Clear instructions and templates simplify initial steps and help trustees fulfill their duties responsibly. When questions arise during administration, successor trustees can seek assistance to address legal or practical issues and ensure actions taken align with the trustmaker’s instructions.
Frequently Asked Questions About Revocable Living Trusts
What is a revocable living trust and how does it differ from a will?
A revocable living trust is a legal arrangement that holds your assets in a trust you can modify or revoke during your lifetime. You typically serve as trustee while alive, retaining control, and name a successor trustee to manage and distribute assets when you cannot. A will, by contrast, takes effect after death and generally must pass through probate to transfer property. Trusts can provide continuity of management and may reduce probate involvement for funded assets, while wills remain useful for matters such as guardianship nominations for minor children and disposing of assets not included in the trust.
Will a revocable living trust avoid all probate in Tennessee?
A revocable living trust can reduce the probate process for assets that are properly funded into the trust, but it does not automatically avoid probate for all property. Assets that remain in your individual name, or those that pass by beneficiary designation outside the trust, may still require probate or administration. Some types of property may have transfer restrictions or require additional steps to align with a trust plan. Proper coordination of titles, account registrations, and beneficiary designations is essential to maximize the trust’s intended probate-avoidance benefits under Tennessee procedures.
How do I fund a revocable living trust?
Funding a trust requires transferring ownership or control of assets into the trust, which can include retitling real estate deeds, changing registrations on bank and brokerage accounts, and updating beneficiary designations when appropriate. We provide a funding checklist and assist with deed preparation and coordination with financial institutions to ensure transfers are completed correctly. Without funding, a trust may have limited practical effect because assets remaining solely in your name might still be subject to probate. Careful attention to funding steps protects the intended functionality of the trust.
Can I change or revoke my revocable living trust after it is created?
Yes, a revocable living trust can be amended or revoked at any time during the trustmaker’s lifetime, as long as they have capacity to make those changes. This flexibility allows you to update beneficiaries, adjust distribution terms, or change trustees as circumstances evolve. It is important to follow the amendment or revocation procedures set out in the trust document to ensure changes are legally effective. Regular reviews help identify necessary updates and ensure the trust continues to reflect current intentions and family dynamics under Tennessee law.
Who should I name as successor trustee?
Choose a successor trustee who is trustworthy, organized, and able to manage financial affairs and administrative tasks. Some people select a family member or close friend, while others name a trusted professional or institution as a co-trustee or alternate. Consider availability, willingness to serve, and potential conflicts among beneficiaries. Discuss the responsibilities with the chosen individuals beforehand so they understand the role. Naming alternates provides continuity if the primary choice cannot serve when the time comes.
Will a revocable living trust protect my assets from creditors or lawsuits?
A revocable living trust does not generally provide asset protection from creditors or lawsuits because the trustmaker retains control and can revoke the trust. For people seeking protection from creditors, other planning strategies may be appropriate, but those approaches involve different legal considerations and may have tax and legal implications. A revocable living trust primarily focuses on management, incapacity planning, and orderly transfer of assets rather than creditor protection. Discussing specific concerns allows assessment of whether changes to your plan are warranted.
How does a revocable living trust affect taxes?
A revocable living trust typically does not change income tax treatment during the trustmaker’s lifetime because the trustmaker retains control and reports trust income on personal returns. Estate tax considerations may arise for larger estates, and planning can address potential tax consequences through coordination with other tools. Tennessee does not have a separate state-level estate tax for most estates, but federal estate tax and income tax rules may still apply. Reviewing your financial picture with legal and tax professionals helps ensure your plan considers relevant tax implications and reporting obligations.
Do I still need a will if I have a revocable living trust?
Even with a revocable living trust, a pour-over will is often used to capture any assets not transferred into the trust during life and to handle guardian nominations for minor children. A pour-over will directs remaining probate assets into the trust upon death and ensures that assets unintentionally omitted are still distributed according to the trustmaker’s intentions. Maintaining coordinated documents reduces the chance of unintended outcomes and provides a safety net for assets that were not retitled or designated properly before death.
How much does it cost to create and maintain a revocable living trust?
The cost to create a revocable living trust varies depending on the complexity of the estate, the number of documents required, and the extent of funding assistance needed. Simple trusts with minimal assets and straightforward family situations are less costly, while more complex arrangements involving real estate, business interests, or blended family planning require additional work. We provide transparent information about fees during an initial consultation and outline what services are included, such as document drafting, funding assistance, and periodic reviews, so clients can budget accordingly.
What should I bring to my first trust planning meeting?
For your first meeting bring a list of assets with ownership details, recent account statements, copies of deeds, life insurance policies, and any existing estate planning documents such as wills or powers of attorney. Information about family relationships, intended beneficiaries, and concerns about incapacity or distribution timing will help shape recommendations. If you have questions about specific assets or ownership forms, bring documentation to facilitate discussion. Preparing this material in advance makes the planning session more productive and allows creation of a plan that accurately reflects your circumstances.