These clients are a married couple in their late thirties, with one minor child. Their assets total under $10,000.00, and they had no real estate, but they owned a business.
We created a Will plan for each partner, including a:
- Will;
- Financial Power of Attorney;
- Medical Power of Attorney; and
- Healthcare Directive.
The Will plan provided for their child, by giving direction as to who would take care of her if something happened to the couple while she was still a minor. This plan directed that their estate would be left to the other partner in the event of an individual death, and 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 if they became incapacitated.
The Health Care Power of Attorney documents provides the couple with designations for individuals to take care of them if they 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 were 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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