These clients were a married couple with two minor children. They wanted to create a Dynasty Trust to protect their assets for their children.
We created a Trust Plan for them that contained:
- A Trust;
- Pour-Over Wills;
- Financial Powers of Attorney;
- Healthcare Powers of Attorney;
- Healthcare Directives; and
- A Deed.
The Pour Over Wills provide security in case the clients miss transferring any assets into the trust. They allow the Personal Representatives settling the estate to “pour” any assets outside of the trust into the trust.
The Power of Attorney documents are to provide for the couple if they are in a situation in which they cannot make financial or medical decisions for themselves.
Guardian designations were included in the Power of Attorney documents and in the Pour Over Wills, and we also provided the couple with letters for short term guardians and a babysitter emergency manual.
We prepared the Healthcare Directives for end of life decisions and to take the mystery out of what the couple would want to happen to them if they are ever in a permanent vegetative state.
The Deed we prepared conveyed the clients’ property into the trust, so that in the event of their death, the Trustees can sell the property or pass it down to their children.
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):
And, if you know you just want to talk, click the link below to schedule a free strategy session with us: