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Estate Planning

What Bay Point Does

  • Recommends an attorney and schedules an initial meeting for you, the attorney, and your Bay Point advisor.
  • Ahead of the initial meeting, sends your current estate documents, net worth statement, and summary of life insurance to the attorney.
  • Reviews your situation and our recommendations with the attorney before the meeting.
  • Attends the initial meeting to make sure you fully understand and are comfortable with the proposed estate plan.
  • Reviews drafts of new documents and provides corrections or feedback before you sign.
  • Retitles assets at TD Ameritrade if needed to coordinate with your completed estate plan.
  • Provides blank beneficiary designation forms to the attorney to update in accordance with your new plan.
  • Submits competed beneficiary designation forms to TD Ameritrade.
  • Reviews estate plan every year to determine if updates are needed.

What The Attorney Does

  • Drafts estate plan documents to provide for reduction or elimination of estate tax, smooth and efficient transfer of assets to your designated heirs, continuity of management of your assets and health care decisions in the event of your illness or disability. These documents generally include wills, various types of trusts, powers of attorney, and health care directives.
  • Completes beneficiary designation forms for insurance, retirement accounts, and annuities to be consistent with your plan.
  • Retitles real estate property if necessary to coordinate with your plan.

What You Do

  • Make decisions about beneficiaries (who will ultimately inherit your estate) and fiduciaries (who will serve as personal representative, trustee, health care agent, etc.).
  • Attend initial meeting with the attorney to communicate your wishes.
  • Review draft documents and provide feedback or corrections to the attorney.
  • Schedule and attend follow up meeting with attorney to execute all documents.
  • Provide attorney blank beneficiary forms for life insurance, annuities, and any retirement accounts held outside TD Ameritrade.
  • Sign and submit updated beneficiary forms to the appropriate institutions.
    Provide copies of executed documents, contact information for Bay Point, and contact information for the attorney to your fiduciaries.

Working Together