Initial Gifts Overview

What is the purpose of the initial gifts section?

The Initial Gifts section is a place where you can make specific asset bequests and cash legacies. Anything put into this section will be specifically referred to in the will. For every asset, you have the option of gifting it absolutely or in a trust.

What is the difference between “absolute” and “trust?”

For any gift, you have two choices - Absolute or Trust.

• Absolute gifts are gifts with no strings attached. This will allow the beneficiary to do whatever they want with the inheritance - spend it all, give it away during their lifetime or make a new will and give it to whomever they want to upon their death.
• Trust gifts are those that have strings attached, used when the client wants to control what happens to the inheritance in the future or protect or secure things for the beneficiary. In the program, if you choose to gift an asset in a trust, you will have more fields of information to fill out.