This client was an unmarried man who was recently divorced, and had two minor children and business assets. He had an existing plan, and chose to create a new one to match his current situation. His goals were to avoid probate and provide for his children.
We created a trust plan for him, which included a:
- Power of Attorney for Financial Assets;
- Power of Attorney for Health Care;
- Advance Health Care Directive;
- Disposition Instructions;
- Babysitter Emergency Manual; and
- Letters to Short-Term Guardians.
The Trust enabled the client to accomplish his goals in providing for his children and avoiding probate.
The Will provides security in case the client misses transferring any assets into his Trust. It allows the Personal Representative to transfer any assets into the Trust.
The Power of Attorney for Financial Assets appoints people to act for the client to manage assets if he is ever incapacitated.
The Power of Attorney for Health Care nominates people to act for the client to manage his health care if he is ever incapacitated.
The Advance Health Care Directive includes instructions about what types of health care the client would like if he is ever incapacitated.
The Disposition Instructions state what the client would like to happen to his remains after he is gone.
The Deed transfers the client’s real property into his Trust, so it will avoid probate.
The Babysitter Emergency Manual includes instructions to a babysitter about what they should do if an emergency occurs.
The Letters to Short-Term Guardians have instructions for the short-term guardians to follow if they care for the children in an emergency situation.
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: