What's new at Luminary: September update
Blog Post
October 3, 2024
This month, discover how Luminary is leading the pack in AI-driven digitization of plan data, now with 82% of entity types supported. Explore new templates simplifying estate planning with pre-set patterns for dispositive provisions, and updates throughout the platform for even more comprehensive estate planning.
New innovative templates make visualizing plans a breeze
Luminary’s new templates take the manual work out of mapping common structures, with pre-set patterns of dispositive provisions. In just a few clicks, you can now map out your clients estate with common planning patterns, or apply the same provisions across multiple entities. Luminary supports five common planning structures, along with additional configurations, and also allows you to create your own custom templates for maximum flexibility.
Dispositive provisions on Luminary power the creation of dynamic estate waterfall visuals, and automatic projections of estate taxes and beneficiary outcomes. Templates can also be used within hypothetical “what-if” analyses to show the outcome of new estate planning ideas. These powerful features combined save you time in creating compelling presentations to drive proactive client conversations.
Digitize client estate plan data with AI suggestions
Introducing Luminary AI's latest leading edge update, now unlocking easy digitization of even more client plan data.
You can upload multiple documents at once to automatically extract key information, view the AI suggestions alongside the original document, and reject or approve suggestions.
The multi-doc upload feature is especially helpful for amendment and restatements, and for business entities where details come from a range of documents such as FinCEN filings, operating agreements, etc. Now you can upload them all at once, and Luminary will locate and extract the relevant data for you.
AI suggestions now support data entry for over 82% of AI-applicable entities, including:
- Revocable Trusts
- Irrevocable Trusts
- Irrevocable Life Insurance Trusts (ILITs)
- Spousal Lifetime Access Trusts (SLATs)
- Business entities: LLC, LP, GP, C-Corp, and S-Corp
View original documents next to your summary when making edits
Now it's even easier to make edits to your Luminary AI-generated summaries. With our redesigned user interface, you can now view a document and ask AI queries to find all the relevant details easily.
Health Care Proxy documents now have specialized summary templates
Luminary AI can now create tailored summaries for Health Care Proxy documents — an integral part of every estate plan. Summarize relevant points in minutes, making it easy to refer back to, or share with clients at a moments notice.
Duplicate entities
Eliminate repetitive data entry with the ability to duplicate an entity. This is especially helpful where you may have multiple similar trusts for a given client. To duplicate an entity, simply click on the vertical ellipses button from any entity screen to find the new drop down option.
Add life insurance to more entities
Life insurance policies can now be added to all relevant entity types, and can be transferred in hypothetical waterfalls.
Supported on:
Trusts: Irrevocable, Revocable, SLAT
Businesses: LLC, GP, LP, S-Corp, C-Corp
Charitable: CRT, CLT, DAF, Foundation
To learn more about Luminary, visit us at https://www.withluminary.com/
