These clients were a married couple with two minor children. They wanted to provide for their children and provide guardian designations in case something happened to them when their children were still minors.
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
- Quit Claim Deeds.
The Trust enables the clients’ property to avoid probate, and directs their assets in the trust to go where they would like them to go. It also appoints a trustee to oversee management and distribution of these assets.
The Wills name people to act as personal representative of the clients’ estates, and allow the personal representative to transfer any assets into the trust, if the clients miss transferring any during their lifetime.
The Powers of Attorney for Finances name people to manage the clients’ finances if they are ever incapacitated.
The Powers of Attorney for Health Care nominate people to manage the clients’ health care if they are unable to do so themselves.
The Advance Health Care Directives include what types of health care the clients would like if they are ever incapacitated or in a terminal condition.
The Disposition Instructions state what the clients would like to happen to their remains after they are gone.
The Quit Claim Deeds transfer the clients’ interest in real property to their trust, so it will avoid going through probate.
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: