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Features in Estate Planning Tools
for Financial Planning
Software for modeling estate tax scenarios, trust planning, charitable giving strategies, and intergenerational wealth transfer planning.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Client Communication & Reporting
Robust output, document generation, and communication support for advisors and clients.
- Batch Reporting Speed
- Time required to generate a set of reports for multiple clients.
- Client Feedback Collection
- Clients can directly review, comment, or give digital approval of plans.
- Customizable Reports
- Produces branded, client-friendly reports summarizing estate plans and outcomes.
- Email/Message Integration
- Built-in capability for secure client communication and notification.
- Interactive Visualizations
- Dynamic estate flowcharts, distribution visualizations, and tax analysis outputs.
- Presentation Mode
- Dedicated tools for presenting estate plans in client meetings.
- Secure Document Delivery
- Sends final documents with multi-factor authentication and tracking.
- Translation/Localization
- Reports and interfaces available in multiple languages.
- Versioned Document History
- Maintains a full record of document versions and delivery/approval logs.
Core Estate Planning Modeling
Features that enable fundamental estate planning, scenario modeling, and projection capabilities.
- Asset Titling Analysis
- Analysis of optimal asset titling/ownership structures (JTWROS, Tenants-in-Common, Trust, etc.).
- Beneficiary Modeling
- Supports flexible structuring and allocation among multiple beneficiaries or classes.
- Customizable Assumptions
- Allows users to set or override assumptions such as growth rates, inflation, mortality, and discount rates.
- Digital Asset Inclusion
- Allows modeling and inclusion of digital assets (e.g., crypto, online accounts) in estate plans.
- Estate Tax Scenario Modeling
- Ability to model federal and state estate tax liabilities based on client information and changing legislation.
- Inheritance Equalization Tools
- Functions to model and help achieve equalized inheritances among children/beneficiaries.
- Integrated Liquidity Analysis
- Evaluates estate liquidity needs and gaps to pay tax and expense obligations.
- Multi-Year Projections
- Capacity to project estate, gift, and generation-skipping tax over multiple years.
- Probate Analysis
- Ability to estimate probate costs and duration for various estate plans.
- Scenario Comparison
- Compares multiple estate planning strategies side-by-side including impacts on taxes, distribution, and liquidity.
- Speed of Estate Plan Calculation
- The typical time required for the system to generate a comprehensive estate plan scenario.
Gifting, Philanthropy, and Charitable Planning
Capabilities that support annual and lifetime gift planning, charitable trusts, and philanthropic strategies.
- Annual Exclusion Tracking
- Monitors client’s available annual gift exclusion for tax-free gifts.
- Charitable Deduction Calculator
- Estimates tax deduction available from cash or property donations.
- Charitable Lead Trust Modeling
- Models CLTs and forecasts benefits to charity and heirs.
- Charitable Remainder Trust Modeling
- Models CRTs and simulates benefits for income, remainder, and tax effects.
- Donor-Advised Fund Integration
- Allows planning for and tracking of DAF contributions, grants, and tax effects.
- Gift Tax Return Preparation Support
- Prepares or populates IRS Form 709 and records lifetime reporting history.
- Lifetime Gift Tracking
- Tracks use of federal/unified credit for lifetime gifts against estate tax exemption.
- Philanthropy Scenario Comparison
- Compares alternative gifting methods and vehicles by net impact for client, heirs, and charities.
- Present Value Gift Calculations
- Calculates present and future value of gifts, adjusted for growth and discount factors.
- Qualified Charitable Distribution (QCD) Modeling
- Analyzes QCD strategy from IRAs and their tax benefits.
Integration & Data Management
Features enabling data portability, integration, and collaboration between systems and professionals.
- API Availability
- Offers public APIs for data extraction, import, and integration into custom workflows.
- Automated Data Validation
- Runs checks on imported data for accuracy and consistency.
- Bulk Data Import/Export
- Enables high-volume CSV/Excel/XBRL data transfer for migration or analysis.
- CRM Integration
- Seamless bi-directional sync with major CRM systems (Salesforce, Redtail, Wealthbox, etc.).
- Custodian/Account Aggregation
- Imports account, asset, and beneficiary data directly from custodians and banks.
- Financial Planning Software Integration
- Bidirectional integration with popular financial planning platforms (e.g., eMoney, MoneyGuidePro).
- Law Firm Integration
- Facilitates collaboration between advisory firms and law firms writing documents.
- Secure Client Portals
- Clients can upload, view, and approve documents and proposals via secure portals.
- Version Control for Shared Plans
- Keeps a changelog for shared editing and scenario building between professionals.
Intergenerational Wealth Transfer
Tools for modeling multigenerational transfers, generation-skipping transfer (GST) taxes, and wealth equalization.
- 529 and Education Trust Analysis
- Models education-focused wealth transfer using 529s and trusts.
- Annual Transfer Limit Calculations
- Calculates maximum yearly gifts to each beneficiary under current law.
- Dynasty Trust Planning
- Projects the longevity and benefits of dynasty and perpetual trusts.
- Equalization Algorithms
- Provides automation or recommendations for equalizing inheritance among heirs with different needs.
- Generation-Skipping Transfer Tax Modeling
- Forecasts GST exposure and allocation of GST exemption to trusts and direct skips.
- Heir Distribution Schedules
- Outlines schedules and amounts for transfer to children, grandchildren, or other generations.
- Intra-family Loan Modeling
- Simulates and tracks intra-family loans and their compliance with IRS requirements.
- Multi-Generational Scenario Planning
- Simulates the effect of various strategies across two or more generations.
- Trust Decanting Scenario Analysis
- Models potential advantages and implications of trust decanting over generations.
Regulatory Compliance & Risk Management
Functions designed to help firms comply with estate planning laws, document best practices, and mitigate legal/regulatory risk.
- Audit Trails & Versioning
- Chains user actions and scenario changes for regulatory review or compliance audits.
- Automated Compliance Checks
- Identifies missing or non-compliant documentation/data before plan finalization.
- Customizable Compliance Workflows
- Allows tailoring of review and approval flows to firm policy.
- Document Storage & Retrieval
- Stores supporting documents/lawyer notes securely and links to client records.
- E-signature Integration
- Supports secure e-signing for wills, trusts, and related documents where permitted.
- Fiduciary Duty Monitoring
- Tracks recommendations for adherence to the advisor’s fiduciary duty.
- Integration with Attorney Portals
- Facilitates secure workflow and data sharing with external attorneys.
- Real-Time Regulatory Updates
- Automatically integrates updates to federal and state estate tax law and rates.
- Red Flag/Alert Notification System
- Notifies advisors of urgent compliance or documentation gaps.
Scalability & Performance
Technical capabilities that ensure performance, speed, and scalability from solo practices to large enterprises.
- Batch Processing Capability
- Processes large datasets (e.g., client imports, scenario creation) in batches.
- Cloud-Based Scalability
- System is cloud-native and can autoscale as user base or data grows.
- Concurrent User Support
- Maximum recommended number of users working simultaneously without slowdown.
- Latency
- Average system latency under typical advisor use.
- Load Testing Certification
- Tested/guaranteed performance under specified high-volume transaction loads.
- Mobile Sync Speed
- Synchronization delay between devices and main platform.
- Multi-Office/Multi-Tenancy Support
- Supports separate environments for different offices, advisors, or sub-firms.
- Uptime Guarantee
- Service level commitment to system uptime.
Security & Privacy
Security and privacy features necessary for safeguarding highly sensitive financial and personal data.
- Comprehensive Audit Logs
- Tracks every login, document access, and transaction performed in the system.
- Data Encryption In-Transit and At-Rest
- All estate planning data are encrypted using industry best practices.
- Data Residency/Retention Controls
- Lets users select region for data storage and implements custom retention policies.
- Encryption Key Management
- Secure lifecycle management for all encryption/decryption keys.
- Granular Sharing Permissions
- Allows sharing of select portions with clients, co-advisors, or attorneys.
- Multi-Factor Authentication (MFA)
- Requires MFA for all advisor, staff, and client logins.
- Privacy Compliance Monitoring
- Features to track compliance with relevant data privacy regulations (GDPR, CCPA, etc.).
- Regular Security Audits
- Product and infrastructure are tested on a set frequency for vulnerabilities.
- Role-Based Access Control
- Enforces least-privilege access to sensitive data based on user role.
Support, Training & Vendor Reliability
Assurances of robust vendor customer service, implementation help, user training, and business continuity.
- 24/7 Customer Support
- Live, round-the-clock support by email, chat, or phone.
- Community/User Forum
- Online forum for peer discussion, tip sharing, and best-practice exchange.
- Comprehensive User Documentation
- In-depth guides and written/video tutorials explaining all features.
- Continuing Education Resources
- Regular workshops, webinars, or CE-eligible courses for estate planning.
- Disaster Recovery Guarantee
- Commitment and systems to restore operations in the event of major outage.
- Onboarding & Implementation Support
- Dedicated specialists guiding initial setup, training, and best practices ramp-up.
- Service Level Agreement (SLA)
- Clearly documented SLAs including support response timelines and remedies.
- User Satisfaction Metrics
- System for collecting, tracking, and improving user satisfaction (e.g., NPS, CSAT).
- Vendor Longevity & Financial Stability
- Track record of financial health and ongoing product development.
Trust & Entity Planning
Features for creating, modeling, and analyzing various trust structures and legal entities.
- Automated Trust Flowcharts
- Visualizes trust structures, beneficiaries, and flows over time.
- Crummey Power Modeling
- Supports annual exclusion gifting via Crummey withdrawal power provisions.
- Dynasty Trust Planning
- Models advantages and GST impact of long-term dynasty trusts.
- Entity Planning Support
- Capability to model family limited partnerships (FLPs), LLCs, S-corps, and related entity planning.
- Trust Asset Allocation Analysis
- Ability to recommend or analyze portfolio allocation within trust accounts.
- Trust Distribution Analysis
- Simulates different trust payout/distribution options (unitrust, income-only, discretionary, etc.).
- Trust Funding Recommendations
- Suggests optimal funding amounts/types for various trust structures.
- Trust Income Tax Modeling
- Calculates the trust’s ongoing income and capital gains taxes.
- Trust Remainder Calculations
- Automatic calculation of remainder interests, including for charitable and split-interest trusts.
- Trust Type Support
- Supports modeling and analysis of major trust types: revocable, irrevocable, GRATs, CLATs, SLATs, etc.
User Experience & Usability
Interface and workflow features to facilitate efficient advisor-client collaboration and actionable planning.
- Accessibility Features
- Supports screen readers, alternative data entry, and ADA compliance.
- Customizable Dashboards
- Personalized dashboard views by advisor role or client needs.
- Drag-and-Drop Scenario Builders
- Intuitive, visual builders for estate plans and flowcharts.
- Guided Workflows
- Step-by-step flows help less-specialized users conduct advanced planning.
- Integrated Help & Training Resources
- In-app help, FAQs, and tutorials tailored to common estate planning topics.
- Mobile and Tablet Compatibility
- Optimized user experience on mobile and tablet devices for on-the-go access.
- Onboarding Speed
- Average time required for a new user to be on-boarded and proficient.
- Real-Time Collaboration
- Multiple advisors/stakeholders can edit and comment simultaneously.
- White Labeling
- Enables branding of reports and portals with firm logos and colors.