How a Bancroft plan comes together

A Bancroft plan starts with the household, not a document. It continues past the signing. Here is each stage, what happens in it, and who does what.

1. The household record

• What happens: Family, important people and assets are entered once in your branded portal. The record prefills every questionnaire.
• Your role: Invite the household. Keep the record current with them.
• The household's role: Enter their information, or confirm what you entered together.

2. Documents

• What happens: Each document has its own questionnaire. Drafts are generated from the answers, using state-specific templates.
• Your role: Explain what each document covers, in general terms.
• The household's role: Answer every question and make every selection.

3. Review and signing

• What happens: Drafts are reviewed before anything is final. Attorney review is available when a situation calls for it. Signing tasks track each document through execution.
• Your role: Review the drafts with the household. Confirm they made every selection.
• The household's role: Engage an attorney when review is needed. Sign according to the state's requirements.

4. Funding

• What happens: Each asset headed for the trust becomes a task. Letters to each institution are drafted. A deed recording can be ordered from the task.
• Your role: Review the letters. You or the household approve each one. Follow up on open tasks.
• The household's role: Mail the letters. Store each institution's confirmation.

5. The Digital Safe

• What happens: An encrypted vault holds the documents, files and a Legacy Letter. Named executors can request access when the time comes.
• Your role: Remind the household what to store. Keep firm copies in the household’s Firm files tab.
• The household's role: Store what the family will need. Name digital executors.

6. Keeping it current

• What happens: Annual review reminders. Free trust updates. The Opportunities view shows what may deserve a conversation.
• Your role: Run the annual review.
• The household's role: Tell you about changes: family, assets, wishes.

Where to go next

• Getting started for your first household.
• How onboarding works for training and support.
• Bancroft and the unauthorized practice of law for your compliance file.

Bancroft is not a law firm and does not give legal advice.