These clients were a married couple with one minor child. They wanted to create a plan that distributed their assets to each other and then to their daughter.
We created a Will Plan for each of them that contained a:
- Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney; and
- Healthcare Directive.
The Wills provide direction to their Personal Representatives for the distribution of their assets. It additionally names a long-term guardian to care for their child if anything happens to the clients when the child is still a minor.
The Power of Attorney documents are to provide for the couple in the event that 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 Will, and we also provided the couple with letters for short term guardians and a babysitter emergency manual.
We prepared the Healthcare Directive 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.
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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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