This client was an unmarried man with two adult children. He wanted to distribute his estate to a large number of his family and friends.
We created a Trust plan for him that contained a:
- Trust;
- Pour-Over Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney;
- Healthcare Directive; and
- Deed.
The Trust enables the client to accomplish his goals and leave his estate to his family and friends. It also names a Trustee to manage distributions and the assets held in the Trust.
The Pour Over Will provides security in case the client misses transferring any assets into the Trust. It allows the Personal Representative settling the estate to “pour” any assets outside of the Trust into the Trust.
The Power of Attorney documents provide for the client if he is in a situation in which he cannot make financial or medical decisions for himself.
We prepared the Healthcare Directive for end of life decisions and to take the mystery out of what he would want to happen to him if he is ever in a permanent vegetative state.
The Deed we prepared conveyed the client’s property into the Trust, so that in the event of his death, the Trustees can sell the property or pass it down to his children.
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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
And, if you know you just want to talk, click the link below to schedule a free strategy session with us:
