Jump to Navigation

Documents On The Net | What's New?

Documents On The Net Version™ 20.0

Version 20.0 of Documents On The Net (DON) has massive content (1,542 specimen documents organized into 233 document sets plus 68 Flow Charts).

The best way to review the general contents of DON is by clicking on “Highlights Of The System” (the second menu item in the System). For a review of all documents contained in the System, click on “List Of All Document Names” (the first menu item in the System).

One Very Important Feature of DON

You can export any document electronically to another party (for example, as an e-mail attachment to a client’s attorney). Most attorneys appreciate electronic copies in addition to hardcopies so they can edit text without having it all re-typed. To export a file, be sure the specific file you want to export is highlighted and use “File/Export As” from the Toolbar.

Highlights of Version 20.0

1.  Additional Business Buy-Sell Plans

  • Professional Partnership Cross-Purchase Buy-Sell with Trustee (6 new documents)
  • Professional Partnership Cross-Purchase Buy-Sell (6 new documents)
  • Corporation Cross Purchase Buy-Sell with Insurance Partnership (6 new documents)
  • Limited Liability Company Cross Purchase Buy-Sell with Insurance Partnership (6 new documents)
  • Professional Limited Liability Company Cross Purchase Buy-Sell (6 new documents)
  • Professional Limited Liability Company Cross Purchase Buy-Sell with Trustee (6 new documents)
  • Professional Limited Liability Company Cross Purchase Buy-Sell with Insurance Partnership (6 new documents)
  • S Corp One-Way Buy-Sell (6 new documents)
  • S Corp Cross Purchase Buy-Sell (6 new documents)
  • S Corp Cross Purchase Buy-Sell with Trustee (6 new documents)
  • S Corporation Cross Purchase Buy-Sell with Insurance Partnership
  • S Corporation Stock Redemption Buy-Sell (Accrual Basis Taxpayer)
  • S Corporation Stock Redemption Buy-Sell (Cash Basis Taxpayer)
  • S Corporation Optional Stock Redemption Buy-Sell
  • S Corporation Optional Stock Redemption Buy-Sell with Trustee

These new buy-sell document sets expand the buy-sell variations for different business entities, especially S corporation. Although these are stand-alone specimen buy-sell agreements with supporting documents, the language of these agreements can also be incorporated into a business entity’s operating agreement.

2.   Additional Client Letters

  • Financial Planning Process (3 new documents). This letter gives a brief overview of the financial planning process. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of working with a client to develop a financial plan.
  • Retirement Planning (3 new documents). This letter gives a brief overview of the retirement planning process. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of working with a client to develop a retirement plan.
  • Managing Risk (3 new documents). This letter gives a brief overview of strategies for managing risk. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of developing and implementing risk management strategies.
  • Choosing a Business Entity (3 new documents). This letter gives a brief overview of various business entities and how one compares to another. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of choosing the right business entity.

3.   Revised Client Letters

  • Attorney Engagement Letter (3 revised documents). This letter is used by an attorney to establish a formal working relationship with a client. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of forming the attorney-client relationship.
  • Broker of Record Letter (3 revised documents). This letter is used by an insurance broker to document the broker’s relationship with a client. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of establishing a broker-client relationship.
  • Adviser Authorization Letter (3 revised documents). This letter is used by a financial adviser to establish a formal working relationship with a client. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of forming the adviser-client relationship.
  • Estate Tax Repeal or Reform (3 revised documents). This letter provides a brief discussion of the current estate tax situation. It is accompanied by Highlights of the Plan and Technical Preface documents that give background and practical information about estate taxes.
  • Charitable Gifting Strategies (3 revised documents). This letter summarizes available tax advantages and gives a brief overview of strategies for making tax-advantaged gifts to charity. It is accompanied by Highlights of the Plan and Technical Preface documents that discuss certain conceptual and technical aspects of charitable giving.

4.   Additional Charitable Gifts

  • Charitable Gift of Conservation Easement with Wealth Replacement Trust (6 new documents). This document set shows how a wealth replacement trust can be combined with a charitable gift of a conservation easement to provide a landowner with a charitable deduction without reducing the value of his or her family’s inheritance.

5.   Additional Executive Bonus Plans

  • Leveraged Executive Bonus (with Loan Regime Collateral Split Dollar to Pay Tax on Bonus – Unrestricted Access – Tax Exempt Organization) (10 new documents). This document set provides a specimen bonus arrangement from a tax-exempt employer in conjunction with a loan regime split dollar arrangement to pay the employee's tax due on the bonus. The employee's access to the policy's cash values is unrestricted.
  • Leveraged Executive Bonus (with Loan Regime Collateral Split Dollar to Pay Tax on Bonus – Restricted Access – Tax Exempt Organization) (10 new documents). This document set provides a specimen bonus arrangement from a tax-exempt employer in conjunction with a loan regime split dollar arrangement to pay the employee's tax due on the bonus. The employee's access to the policy's cash values is restricted.

6.   Additional Employer-Sponsored Split Dollar Plans

  • Leveraged 401(k) Look-A-Like Using Loan Regime Split Dollar (For-Profit Organization) This document set provides a specimen loan regime split dollar agreement established by a for-profit employer).
  • Leveraged 401(k) Look-A-Like Using Loan Regime Split Dollar (Tax Exempt Organization) This document set provides a specimen loan regime split dollar agreement established by a tax exempt employer).
  • Leveraged Deferred Compensation Using Loan Regime Split Dollar with Bonus of Interest on Premium Loans – Unrestricted Access - Tax Exempt Organization (10 new documents)
  • Leveraged Deferred Compensation Using Loan Regime Split Dollar with Bonus of Interest on Premium Loans – Restricted Access – Tax Exempt Organization (10 new documents.

7.   Revised Section 457 Plans

  • Eligible Section 457(b) Deferred Compensation Plan for Governmental Organization (5 revised documents)
  • Eligible Section 457(b) Deferred Compensation Plan for Tax Exempt Organization (5 revised documents)

8.   An Irrevocable Beneficiary-Owned Trust (also known as a Beneficiary’s Grantor Trust)

  • (5 documents have been added) An Irrevocable Beneficiary-Owned Trust (IBOT or Trust) is an irrevocable trust established by a parent or other relative (the Settlor) under the direction and for the benefit of a Primary Beneficiary (Beneficiary).

9.   Revised Publications and Forms

  • (21 revised documents). Updates were made to the Publications and Forms for our IRS Resources located in Estate Planning, Business Planning, and Life Insurance and Annuities document sets.

10.  Revised Special Files

  • Federal Estate and Gift Tax Rates and Credits (revised). This document has been updated to reflect adjustments in estate, gift, and generation-skipping tax credits, deductions, and exclusions to reflect annual cost-of-living increases.
  • Federal Income Tax – Certain Inflation-Adjusted Limits (revised). This document has been updated to reflect adjustments in certain income tax rates, credits, deductions, and exclusions and reflects annual cost-of-living increases.