These clients just wanted a simple plan to make things easy and equal for their two adult children. Their main assets were real estate and retirement accounts, so all of these needed to have the beneficiary designations on them to avoid probate. Everything else could easily pass to their children as they lived nearby and had access to the remaining assets.

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

– Wills;
– Powers of Attorney;
– Medical Powers of Attorney;
– Health Care Directives;
– Disposition Instructions; and
– Transfer on Death Deed

The Will names a personal representative (i.e. executor) of the clients’ estates.

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

The Medical Power of Attorney nominates people to manage the clients’ 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 clients would like to happen to their remains after they are gone.

The Transfer on Death Deed is basically a beneficiary designation for your house. It allows you to transfer real estate without probate while also not needing a trust.

__________________________________________________________

Need help with estate planning or probate? Click here to schedule your free consultation.