We created this estate plan for a couple in their early forties, with two minor children. They were not married, but were in a long-term partnership. The clients owned their residence, several accounts, vehicles, and two business interests.
We created a Will plan for each partner, which consisted of a:
- Will;
- Financial Power of Attorney;
- Medical Power of Attorney; and
- Healthcare Directive.
The Will plan provided for their children, by giving direction as to who would take care of the minors if something happened to the couple while they were still under eighteen. This plan determined that their estates would be left to the other partner in the event of an individual death, and well as to their then living children.
Their plan also provided direction on what would happen to their business interests and who would make financial decisions for them in case either of them were to become incapacitated.
We prepared the Health Care Directive for end of life decisions and to take the mystery out of what the couple would want to happen to them if they went into a permanent vegetative state.
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Need estate planning help but not sure where to start? Click the link to check out this free presentation I put together that will answer all your questions (it’s basically the talk I give at potential client strategy sessions):
https://cmslawfirm.com/foundation
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