Document type definitions

When uploading documents to Luminary, the system classifies each file based on its name. Documents are automatically tagged, and the selected document type determines how each summary is generated. Refer to the definitions below for more details on each document type.

• Account documentation statement: Official account paperwork or statements from a financial institution evidencing account ownership and holdings.

• Advance directive: A written instruction (often combining a healthcare proxy and living will) specifying medical care preferences if the client cannot communicate.

• Articles of incorporation: The founding document filed with a state to formally create a corporation.

• Asset valuation: A report or appraisal establishing the fair market value of an asset for gift, estate, or tax purposes.

• Assignment of interest: A document transferring ownership of an interest in an entity (such as LLC or partnership units) from one party to another.

• Assignment of tangible property: A document transferring ownership of tangible personal property (such as artwork, jewelry, or furniture) between parties.

• Balance sheet: A financial statement listing a client's or entity's assets, liabilities, and net worth at a point in time.

• Beneficial ownership information report: A report identifying the beneficial owners of an entity, as required under the Corporate Transparency Act.

• Binder: A combined PDF containing multiple distinct documents that will automatically be split apart and classified individually.

• Corporate bylaws: The internal rules governing a corporation's operations, including board structure, officer roles, and meetings.

• Crummey letter: A notice sent to trust beneficiaries of their right to withdraw a recent contribution, used to qualify gifts for the annual exclusion.

• Deed: A document conveying legal title to real property, used here as evidence of ownership.

• Divorce settlement: The legal agreement or decree finalizing the division of assets and obligations between divorcing spouses.

• Driver's license: A government-issued driver's license used to verify the client's identity.

• Existing remainder trust document: The trust agreement for a pre-existing remainder trust (such as a CRT or GRAT remainder trust) that continues to hold assets for named beneficiaries.

• FINCEN filing: A filing submitted to the Financial Crimes Enforcement Network, such as a BOI report or FBAR.

• Gift tax return: A filed IRS Form 709 reporting taxable gifts made during the year.

• Healthcare proxy: A document designating someone to make healthcare decisions on the client's behalf if they become incapacitated.

• Household export: Presentations and other similar deliverables created in other estate planning software tools.

• HIPAA waiver: An authorization allowing named individuals to access the client's protected health information.

• Income tax return: A filed income tax return (such as Form 1040 or 1041) for an individual, trust, or entity.

• Insurance policy: A life, disability, or other insurance contract between an insurer and the policy owner.

• Insurance premium payment: Documentation of a premium payment made on an insurance policy.

• Letter of wishes: A non-binding letter from a grantor giving guidance to trustees on how to exercise discretion over a trust.

• Living will: A document stating a client's wishes regarding life-sustaining medical treatment in end-of-life situations.

• LLC agreement: The written agreement governing a limited liability company, equivalent to an operating agreement.

• LLC agreement amendment: A document modifying specific provisions of an existing LLC agreement.

• Loan note agreement: A promissory note or loan agreement documenting a loan between parties, including principal, interest, and repayment terms.

• Logged contribution: A record of a contribution of cash or property made to a trust, entity, or account.

• Logged distribution: A record of a distribution of cash or property made from a trust, entity, or account to a beneficiary or owner.

• Operating agreement: The governing document of a business setting out members' rights, management structure, and economic arrangements.

• Operating agreement amendment: A document modifying specific provisions of an existing operating agreement.

• Other: A catch-all category for documents that don't fit any of the defined types.

• Partnership agreement: The governing document of a partnership defining partners' contributions, profit sharing, and management.

• Partnership agreement amendment: A document modifying specific provisions of an existing partnership agreement.

• Passport: A government-issued passport used to verify the client's identity and citizenship.

• Power of attorney: A document authorizing another person to act on the client's behalf in financial or legal matters.

• Prenuptial agreement: An agreement between prospective spouses defining property rights and obligations in the event of divorce or death.

• Shareholders agreement: An agreement among a corporation's shareholders governing ownership, transfer restrictions, and voting.

• Signed trust document: A trust agreement that creates a trust and sets out its terms, trustees, and beneficiaries.

• State business filing: A filing made with a state agency relating to the formation, maintenance, or dissolution of a business entity.

• Tax filing: A tax filing or supporting schedule submitted to a taxing authority that doesn't fall into the more specific tax categories.

• Tax ID confirmation: Confirmation from the IRS of an entity's or trust's assigned Employer Identification Number (EIN).

• Tax receipt: A receipt or proof of payment for taxes paid to a taxing authority.

• Transfer confirmation: Written confirmation that an asset has been transferred from one owner to another (e.g., into a trust or entity).

• Trust amendment: A document modifying specific provisions of an existing trust without fully restating it.

• Will: The legal document directing how a person's assets are distributed at death and naming executors and guardians.

• Will codicil: A formal amendment to an existing will that modifies, adds, or revokes specific provisions.