Estate Planning

BCN Revocable Living Trust Service

The level of service that BCN provides is vital to the effectiveness of your revocable living trust. We’ve assisted our clients with their family trusts since 1989 – and family trusts play a crucial role in many of the death claims we handle each year. Our first-hand experience working with surviving family members – over more than 3 decades – allows us to bring much greater knowledge, understanding and clarity to every family we work with.

Personal Review & Thorough Preparation

We take the time to thoroughly answer questions and address your concerns, so you can see exactly how a revocable living trust will strengthen your overall estate and financial plan.

The trust documents are complete. They include the Declaration (whether Marital, Marital A-B, or Single), Certification of trustee powers, Pour-over will, Power-of-attorney for property, Power-of-attorney for health care, Asset schedules, Specific gifts, Amendment and Minutes worksheets.

After your documents are prepared, we deliver your trust and explain each of the documents in detail.

Complete Trust Execution & Funding

BCN works with you to ensure that all trust documents are properly signed, notarized, and witnessed. Whenever practical, we will notarize as part of our service.

BCN will prepare a comprehensive Asset Schedule which identifies the assets placed in the protection of your trust. The Asset Schedule helps to demonstrate intent and serves as a roadmap for Successor Trustees and Beneficiaries upon your death.

Documents necessary to place personal assets in trust are prepared by BCN, signed by the client (signature guaranteed by BCN), and mailed to the various savings institutions, mutual funds, insurance companies, etc. BCN continues to provide this assistance as part of our ongoing service.

Documents necessary to place real estate in trust (transfer deeds, state and county transfer forms and certifications) are prepared by BCN, signed by the client (often notarized by BCN as part of our service), and mailed to the required state and county officials. BCN continues to provide this assistance as part of our ongoing service.

Extensive & Ongoing Service

As circumstance change, you may need to amend or restate your trust documents. This is separate from updating your trust assets and may involve some or all of the following:

Trust Declaration
Trust Certification
Pour Over Will
Durable Power of Attorney – Property Management
Durable Power of Attorney – Healthcare Directive
Trust Amendments or Restatements:

Estate planning needs to be flexible, and we do not want our clients hesitant to update their documents because of cost.

BCN will not charge for changes brought on by life-changing events. Life-changing events include the death of a settlor, trustee, or beneficiary, and the birth of a child. However, full trust fees will apply for a new trust in the event of marriage or divorce.

A fee of $150.00 will be charged for document updates (whether amendment or restatement) not involving a life-changing event. A fee of $300.00 will be charged if additional changes are requested within 24 months.

BCN will not charge for updates to your Schedule of Assets. This includes document preparation with one exception: if you acquire real estate after your trust is established but did not take title as trustee, BCN will prepare a transfer deed (subject to state laws) for $50 plus county recording fees.

Upon the death of a settlor, BCN will assist the surviving spouse or Successor Trustee as part of our comprehensive claims service. This includes locating trust assets, help obtaining appraisals and valuations, making required notifications to trust beneficiaries, and advising on the allocation between the survivor’s trust and irrevocable exemption or disclaimer trusts to preserve significant tax benefits.

A tax identification number (EIN) must be obtained for trusts that become irrevocable upon the death of a settlor. BCN will complete the EIN application and work with the surviving spouse or Successor Trustee to ensure 1041 and K-

1 returns are prepared by a qualified tax-preparer, at the minimum possible cost.

Steps to Complete Your Estate Planning Documents

1. Schedule Your Trust Appointment: You may schedule an appointment by phone, email or through our website. After your initial appointment, you will receive a summary of the information gathered, along with outstanding items still required. This provides an early opportunity to make changes or corrections. As always, please feel free to contact BCN whenever you have questions.

2. Provide Trust Funding Information: BCN will provide a checklist to assist you in gathering the necessary information. Documents related to trust funding can be sent by regular mail, email or Drop Box (recommended). If using Drop Box, please inform your representative so we can provide a secure link.

3. Payment: $1,475 (plus $25 if made through PayPal). We ask that payment be made at the time you provide your trust funding information:

Check payable to “BCN” mailed to 909 Marina Village Pkwy #245 Alameda, CA 94501
Click the link to our secure payments page: Payments Page

4. Trust Completion and Review: Trust documents take approximately 8-10 weeks to complete once all necessary information has been provided.

5. Schedule Your Trust Delivery: BCN will contact you once your trust documents are ready for delivery. At time of delivery, each document will be reviewed to ensure they correctly express your wishes. Whenever practical, we will notarize as part of our service.

Updating Trust Assets and Trust Documents

To make changes to your trust assets, including adding or deleting accounts or real property, use the attached Schedule of Trust Assets – Supplement. Copies of this form are located in the Schedule of Trust Assets section of your trust binder.

Real Estate: When acquiring new real estate or a timeshare, it’s highly recommended to transfer the property into your Living Trust immediately upon purchase. This ensures that the property is integrated into your estate plan, offering benefits like avoiding probate and facilitating more efficient asset management. To streamline this process:

Direct Transfer: Make sure the sellers transfer the property directly into your Living Trust. This helps in seamlessly incorporating the property into your estate plan. (The title will require a copy of your living trust.)
Fee: Once your trust is established and a piece of property is purchased outside of the trust, BCN will prepare a grant deed (subject to state laws) for $50 plus county recording fees.

Beneficiary-Driven Accounts:

Life Insurance • Annuities • IRA or Roth IRA • SEP IRA
401(k), 401(a), 457, and 403(b)

Single Account Holders:

Primary Beneficiary: Whether to designate your Living Trust or adult beneficiaries as the primary beneficiary will depend on the terms of your trust and plan of distribution.

Married Account Holders:

Primary Beneficiary: Name your spouse as the primary beneficiary.
Contingent Beneficiary: Whether to designate your Living Trust or adult beneficiaries as the contingent beneficiary will depend on the terms of your trust and plan of distribution.

Important Considerations:

Joint Accounts with Children or 529 Accounts: These cannot be titled in the name of your Living Trust.

Vehicles: Vehicles are not titled in the name of your Living Trust unless they are valued at $166,250.00 or more (as of 07/2024).

Refinancing: After refinancing make sure the property is still recorded in the name of your trust.

Cash & Securities Accounts: It is recommended that after-tax accounts be titled in the name of your Living Trust at the time of account opening. This includes:

Brokerage Accounts • Mutual Funds
Savings Accounts • Credit Union Accounts

Typically, you will need to provide the financial institution with a copy of your Certification of Trust and, in some cases, have both trustees present.

Updating your Trust Documents: Once your trust is established, it may be necessary to amend or restate your trust documents as circumstances change. Please note this is separate from updating your trust assets and may involve changes to the following:

Trust Declaration
Trust Certification
Pour Over Will
Durable Power of Attorney – Property Management
Durable Power of Attorney – Healthcare Directive

Trust Amendments or Restatements:

No charge for life-changing events. Life-changing events include the death of a settlor, trustee, or beneficiary, and the birth of a child. However, full trust fees apply for a new trust in the event of marriage or divorce.

No charge for updates to trust funding (except for real property acquired after your trust is established). When title is not taken in the name of a trust already established, BCN will prepare a grant deed (subject to state laws) for $50 plus county recording fees. There is no charge for updates to your schedule of assets.

A fee of $150.00 will be charged for document updates (whether amendment or restatement) not involving a life-changing event. A fee of $300.00 will be charged if additional changes are requested within 24 months.

BCN Financial Inc.

Registered Investment Advisor in California

Office: 510-876-1088
Fax: 510-769-8980
Email: [email protected]

Business Address
3215 Encinal Ave, Suite L,
Alameda CA 94501

Mailing Address
909 Marina Village Pkwy, PMB 245,
Alameda, CA, 94501

Securities provided through:

LPL Financial, LLC.

4707 Executive Drive
San Diego, CA 92121

San Diego: 800-558-7567