This client is a single parent of two adult children. They had homes in multiple states as well as retirement assets that they wanted to make sure would go to their children without probate. They also wanted to make sure they had power of attorney in place, because they had experienced first hand taking care of an elderly parent and knew just how valuable those documents are.

Based on their needs they chose to do the foundational/trust/tax trust package, which includes:

– Revocable Living Trust;
– Will;
– Power of Attorney;
– Medical Power of Attorney;
– Health Care Directive;
– Disposition Instructions; and
– Quit Claim Deeds moving real estate into the trust

The Revocable Living Trust enables the clients to avoid probate, directs their assets in the trust to go where they would like them to go, and appoints a trustee to oversee management and distribution of these assets. When the clients are gone there will also be asset protection elements for the children.

The Will names a personal representative (i.e. executor) of the client’s estate and ensures all assets get into the trust, even those the client failed to allocate.

The Power of Attorney names people to manage the client’s finances if they are ever incapacitated.

The Medical Power of Attorney nominates people to manage the client’s health care if they are unable to do so themselves.

The Health Care Directive tells the client’s Medical Power of Attorney what to do if they are in a vegetative state (i.e. pull the plug or not).

The Disposition Instructions state what the client would like to happen to their remains after they are gone.

The Quit Claim Deeds transfer the client’s interest in real property to their trust, so it will avoid going through probate.

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