These clients were a married couple with one minor child. They wanted to create a trust for probate avoidance and to provide distribution of assets at specific ages to their daughter.
We created a Trust Plan for them, which included:
- A Trust;
- Pour Over Wills
- Financial Powers of Attorney
- Healthcare Powers of Attorney;
- Living Wills; and
- A Deed.
The Trust enables the clients to accomplish their goals in distributing their assets to their daughter.
The Pour Over Wills provide security in case any assets are missed being put in 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 if they are ever 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.
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.
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: