These clients were a married couple with two children.
We prepared a Trust Plan for them. This included:
- A Trust;
- Pour Over Wills;
- Financial Powers of Attorney;
- Healthcare Powers of Attorney;
- Living Wills; and
- A Deed.
The Trust allows the clients to accomplish their goals in providing for their children. They also appoint a Trustee to oversee distribution or management of the assets held in trust.
The Pour Over Wills provide security in case the clients miss transferring any assets into the Trust. They allow the Personal Representative settling the estate to “pour” any assets outside of the Trust into the Trust.
The Power of Attorney documents provide security 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 Wills, and we also provided the couple with letters for short term guardians and a babysitter emergency manual.
The Deed we prepared conveyed the clients’ home into the trust, so that in the event of their death, the Trustees can sell the house or pass it down to their 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
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