How to Use WealthCounsel for Creating Trusts and Wills

How to Use Wealth Counsel for Creating Trusts and Wills

WealthCounsel is a comprehensive platform designed for legal professionals to create estate planning documents, including trusts and wills. This guide will help you navigate the platform to efficiently draft these important documents.

Step 1: Log in to WealthCounsel

1. Access the Website: Go to the WealthCounsel website (www.wealthcounsel.com) and log in with your credentials.

2. Dashboard Overview: Once logged in, you will see the main dashboard. Here you can access various tools and resources.

Step 2: Add Client

1. Add Client:

   • Navigate to the client section and select "Add Client."

2. Fill in Information:

   • Enter the client's basic details including name, address, and contact information.

3. Save Client:

   • Click "Save" to store the client's information in the system.

Step 3: Create a New Matter

1. My Practice:

   • Go to the "My Practice" section.

2. Matters:

   • Click on "Matters" as a matter is required to create a document.

3. Add Matter:

   • Select "Add Matter" to start a new case file.

4. Fill in Information:

   • Enter all relevant information about the matter and set the status to "Active."

5. Save Matter:

   • Click "Save" to store the matter details.

Step 4: Add Related Parties to Matter

1. Solutions:

   • Navigate to the "Solutions" section.

2. Drafting:

   • Select "Drafting" from the menu.

3. Quick Name Entry:

   • Use the "Quick Name Entry" feature.

4. Select Matter:

   • Choose the matter you created earlier.

5. Add Information for Related Party:

   • Enter details for any related parties such as beneficiaries, trustees, and executors.

6. Save:

   • Click "Save" to store the information.

Step 5: Create and View Documents

1. Solutions:

   • Go to the "Solutions" section.

2. Drafting:

   • Click on "Drafting."

3. Create a New Document:

   • Select "Create a New Document."

4. Find Document You Want to Create:

   • Search for the document type you need (e.g., Living Trust and Ancillaries).

5. Expand:

   • Expand the options under the selected document type.

6. Create Document:

   • Click "Create Document."

7. Choose Matter:

   • Select the relevant matter from your list.

8. Create Document:

   • Confirm the creation of the document.

Step 6: Input Client Information

1. Client Profile:

   • Enter the client’s detailed information, including family, beneficiaries, and fiduciaries.

2. Asset Details:

   • List all assets to be included in the trust or will, specifying how each asset will be distributed or managed.

Step 7: Customize Document Provisions

1. Basic Provisions:

   • Fill out standard clauses including definitions, fiduciary powers, and administrative provisions.

2. Specific Provisions:

   • Customize clauses for unique client situations, such as special needs trusts, charitable bequests, or business succession plans.

Step 8: Review and Edit

1. Document Review:

   • Carefully review the entire document for accuracy and completeness.

2. Client Review:

   • Share the draft with the client for their review and feedback, making any necessary edits.

Step 9: Finalize and Execute

1. Finalize the Document:

   • Ensure all sections are complete and error-free.

2. Execution:

   • Prepare the document for signing, ensuring all required signatures are obtained according to state requirements.

Step 10: Store and Manage

1. Store Documents:

   • Upload the final signed documents to WealthCounsel for secure storage.

2. Manage Updates:

   • Use WealthCounsel to manage any future updates or amendments to the trust or will, keeping client information and documents up to date.

Additional Resources

1. Training and Support:

   • Utilize WealthCounsel’s training resources, webinars, and customer support.

2. Continuing Legal Education (CLE):

   • Participate in CLE programs provided by WealthCounsel to enhance your estate planning expertise.

What we Charge

Will: Typically under $1000 (if asked make sure to use the language “Typically or About”)

• Flat Fee retainer

• Documents: 

  • Will

  • Pour over will

  • MD advance directive

  • POA documents (Limited and financial)

  • HIPAA authorization

Trust: $4,000-$7,000

• Based on assets, properties, and how much you want to put in etc. 

• Documents:

  • Trust

  • Will

  • Pour over will

  • Funding instructions

  • HIPAA authorization

  • MD advance directive

  • POA documents (Limited and financial)