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Drafting Scenarios

Drafting Scenarios are developed from drafting questions Subscribers have sent to InterActive Legal Content Support in which fact patterns are submitted in order to determine which InterActive LegalSuite documents and/or profiles would be most efficient to use for drafting.

If you do not find a fact pattern that is similar to your situation please email content@interactivelegal.com so that our Content Team may provide assistance and add to this database.

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Drafting Scenarios

For a revocable trust leaving to spouse or descendants, the options for the spouse are outright,…

InterActive Legal Support Team Jul 7, 2022

We don’t have a direct option to send the residue to the other spouse’s revocable trust. The concern there relates to whether such a gift would qualify for the estate tax marital deduction (which of course may not be relevant for many…

Drafting Scenarios

Disclaimer Planning Drafting Scenario

InterActive Legal Support Team Jul 7, 2022

In the Comprehensive Will section of the add document menu, you should see a profile called “Outright to Spouse; Disclaimer Tax Planning”

Drafting Scenarios

How do I make a self-settled asset protection trust an incomplete gift trust because the settlor…

InterActive Legal Support Team Jun 29, 2022

You could use the "Asset Protection Trust," and set it up in Nevada.

Drafting Scenarios

Pot Trust for Minor Children and Roth IRA Scenario

InterActive Legal Support Team Jun 29, 2022

You are correct that the conduit approach doesn’t work with a pot trust, because the conduit trust requires just one beneficiary to whom distributions are made.

Drafting Scenarios

WTP User looking for an Irrevocable Trust with the following…

InterActive Legal Support Team Jun 14, 2022

There are very few trusts in the program that are irrevocable, where the grantor is a beneficiary (since doing so triggers a taxable gift and doesn’t provide creditor protection), so we think the best way to draft this trust would be to set…

Drafting Scenarios

We have two clients who are married and both have children from other marriages.

InterActive Legal Support Team Jun 14, 2022

If we understand correctly, each spouse doesn’t want to benefit the other at death; they want their property to pass to their own children at that point.

Drafting Scenarios

Which trust template should be used for annual exclusion gifts by parents to child/children and more…

InterActive Legal Support Team Jun 14, 2022

If both spouses want to be grantors of the trust, we would use the “Joint Irrevocable Trust.”

Drafting Scenarios

I am trying to draft a joint spousal trust in legal interactive distributes the assets to the trust…

InterActive Legal Support Team Apr 19, 2022

The “Joint Revocable Trust” is likely the document you need – it creates a revocable trust of which both spouses are the grantors, and you can specify the distribution to the grantors’ descendants after both of their deaths.

Drafting Scenarios

Question about a joint revocable trust I’m drafting that includes an accumulation trust to hold…

InterActive Legal Support Team Apr 19, 2022

That is all correct – if you include the retirement benefits planning within the clients’ Joint Revocable Trust, then the same “Descendants’ Separate Trusts” are used for the retirement assets and all other assets, and the retirement assets…

Drafting Scenarios

Is an IDGT an appropriate vehicle for the business shares? Is there a form? Should the shares be…

InterActive Legal Support Team Apr 19, 2022

If you need to draft an irrevocable trust that is a grantor trust for income tax purposes (sometimes referred to as an intentionally defective grantor trust, or “IDGT”), you would use the document called “Irrevocable Trust” in your system.

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InterActive Legal Content Support is designed for drafting questions and explaining options within the program, and we cannot advise on legal matters or best practices.

For substantive questions, we recommend seeking input from other members of the InterActive Legal community by posting your question to our Estate Planning and Elder Law Discussion Forum. That will allow you to obtain other perspectives on the best structure of the plan, and it is possible that others more familiar with your state law will be able to provide additional guidance.

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Drafting Scenarios

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