What plan does the "Separated Spouse with Adult Children" ePlan create?
The "Separated Spouse with Adult Children" ePlan automatically plans the "Scenarios", "Appointments", "POA Financial" and "POA Personal Care" sections according to the following criteria:
Scenarios
- Surviving Spouse
- No planning will be done in this scenario.
- Descendants Only
- General personal effects will be gifted to the class of children in the "Initial Gifts" section.
- If added as an asset, loyalty points will be gifted to the children in the "Initial Gifts" section.
- If added as an asset, the RESP will be gifted to the children in the "Initial Gifts" section.
- The "Balance of the Estate" will go to the class of children absolutely, 100%, with a giftover to beneficiary's issue and then to other class members.
- No Descendants
- The "Balance of the Estate" will create one segment: Segment 1 for 100% to the class of siblings absolutely, with a giftover to beneficiary's issue and then to other class members.
Appointments
- The children will be appointed as Primary Estate Trustees. If there are two children, they will be appointed as joint primaries. If there are more than two children, they will be appointed together with decision making set to simple majority.
POA Financial
- The children will be appointed as Primary POAs Financial, with the decision making set to joint and several.
POA Personal Care
- The children will be appointed as Primary POAs Personal Care, with the decision making set to joint and several.
Note: We encourage you to go through and review the entire plan (even after running the ePlan) to ensure everything matches your preferences. You can always make changes to any section of the plan, just like if you created it yourself.
How do I run the "Separated Spouse with Adult Children" ePlan?
- Click the Lightning Bolt icon in the top right corner.
- Choose the "Separated Spouse with Adult Children" ePlan.
- Click "Execute" to run the ePlan.
Comments
0 comments
Please sign in to leave a comment.