A coherent strategy for the transfer of assets is, of course, crucial to the success of any estate plan. But our best-laid plans will fall far short of expectations if the trusts we’ve so carefully drafted are never properly funded.

If the trust is the car, the funding is the fuel. Without gas in the tank, that beautiful sedan with the precision engine is just metal on four wheels. It’s not going anywhere. The same holds true for an estate plan. Until it’s properly funded, the “plan” is just a plan – a plan that can’t be executed. Like the car with the needle on empty, it’s not going to take you anywhere. 

You’ve outlined a business plan and defined your target. You’ve crafted a mission statement, a vision statement and spent time fine-tuning your “elevator” message. So how do you go about practice building? It’s time to begin creating your legal marketing kit, the tools that will help position you for success.

There’s a widespread misconception that the only gun owners in need of special consideration for firearms in their estate planning are those individuals who own a very valuable collection (i.e., expensive, antique) or those with specific NFA-regulated firearms (fully automatic machine guns, noise suppressors, etc.) 

While those collectors certainly need advanced planning, many more individuals need at least some planning considerations in place within their basic estate plan.