What's new at Luminary: December update

Beneficiary Reporting: A clear picture of “Who receives what and when?”

Luminary’s new Beneficiary Reporting tool introduces an impactful way for advisors to quantify and visualize wealth distribution. Powered by underlying data in Luminary, this innovative tool creates visually engaging reports – not only detailing the benefits beneficiaries can access during the grantor’s lifetime, but also the distributions they will receive after the grantor’s passing.

You can now create a comprehensive overview, breakdowns by beneficiary, and more, with less administrative work from you as Luminary AI extracts data from documents to reduce manual data entry and ensure accuracy.

Learn More About Beneficiary Reporting

AI-Powered Onboarding: Transforming documents into dynamic data in a click

In a groundbreaking industry innovation, advisors can now transform an entire suite of client documents into dynamic digital records with AI assistance – right before their eyes, in just minutes. This bulk-processing capability unlocks a rapid path to data visualization, scenario analysis, and the creation of customized client deliverables, bringing a new level of efficiency to estate planning.

Luminary's innovative AI onboarding process is already in the hands of beta users, and rolling out to all customers soon.

Learn More About AI Onboarding

New Estate Waterfall Summary

Introducing our redesigned Estate Waterfall Summary page – a streamlined visual representation of your client’s estate, providing a fresh and engaging way to initiate meaningful conversations. This intuitive format highlights the metrics your clients care about most, including:

• The current value of the estate
• The value of assets to be transferred to the surviving spouse
• The amounts projected to go to charity, family, and taxes after both spouses have passed

Link Doc to Multiple Entities

Many trust documents specify the details for creating more than one single entity. We’ve made viewing a linked document while editing entity details easier, with a new shared dropdown that enables document details to be shared among multiple entities.

Come see us @ the 2025 Heckerling Institute

We’ll be in Orlando from January 13-17, 2025, at the Heckerling Institute on Estate Planning. Planning on attending? Come visit us at booth number 525 to grab some free swag, meet Luminary founders, and chat with industry leaders. Keep your eyes peeled for an invite to our private event, coming soon.

Launching Soon: Growth Projections by Asset Class

Coming soon to Luminary: customize your projections even further, with our upcoming release that allows you to model custom growth rates for different asset classes in the Estate Waterfall. This new feature will allow you to:

• Define your firm’s growth rates for individual asset categories
• Automatically apply your growth rates in any new estate waterfalls created, or select the option to apply a blended rate

Be one of the first to use this upcoming release — request a custom demo from our sales team here.

Event Recap: Schwab IMPACT 2024

The Luminary team had a fantastic time meeting industry leaders and speaking about the future of AI in estate planning at Schwab IMPACT. Here are our 3 key takeaways:

1. Advisors are more focused on building the right tech stack. And with more options than ever, a thoughtfully integrated tech stack is a top priority.
2. Leveraging Al tools has become a focal point for advisor software to create greater scale efficiency, from taking meeting notes to summarizing documents. AI cannot replace humans, but it will create more time for you to spend in front of clients instead of administrative tasks.
3. Clients are demanding more from their advisors, and advisors will need to meet the next generation where they want to be met. To be successful, it is critical for advisors to find flexible tools with customizable client deliverables.

We can’t wait to be back next year. Thank you to everyone who joined us at happy hour and the great conversations.

To learn more about Luminary, visit us at https://www.withluminary.com/