What is the 3-2-3 Model?
The 3-2-3 Model is the method e-State Planner uses to breakdown the will planning process.
- There are three scenarios you should create a plan for: Surviving Spouse (when the spouse is alive upon death), Descendants Only (when the spouse is gone but there are surviving kids or grandkids) and No Descendants (when everyone is gone in an ultimate disaster situation). By planning for these three scenarios, you are covering all the bases no matter what the situation is on death.
- There are two types of gifts you can create: Absolute and Trust. Absolute gifts are paid in full upon death, with no strings attached. Trust gifts are any gifts with strings attached that can be used for control and protection.
- There are three parts of the will: the Funnel, Filters and Bucket. All assets that fall into the estate go through the Funnel. These assets go through Filters: debts, taxes and specific asset bequests you have created. Everything that remains falls into the Bucket, the residue of the estate.
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