One of the wise ones who has now passed away, but used to generously share his knowledge here would say: "If it quits, point it to where you think you can crash it, and don't crash when you get there.". Yes, trimming for Vbg with an engine failure is a good first action. If a forced landing is a certainty, I'm quite content to pick a closer spot, and quick descend myself to a good place on short final. I don't mind giving up gliding capacity, if I don't need to "make" a far spot. I would rather slip down final to dump excess height/speed, and position myself more precisely over the fence, than to have mis judged, and undershoot. You're better going off the end of your selected spot, having touched down too fast, and decelerated on the ground, than to hit the fence because you misjudged. This is particularly a thought if you're flying a type in which your recent practice forced approaches are few, and your precision may not be great.