These clients were a married couple in their 60’s with 3 adult children. With an Estate valued at $1.4M and real estate holdings, they were looking for an Estate Plan that mainly focused on their Wills and leaving their Estate to their 3 children equally.

Based on their needs they chose to do the foundational package, which includes:

– Wills;
– Powers of Attorney;
– Medical Powers of Attorney;
– Health Care Directive;
– Disposition Instructions; and
– Transfer on Death Deed

The Will does two things: (1) name a personal representative (i.e. executor) of the clients’ estates; and (3) ensure all assets go where they are supposed to go.

The Power of Attorney names people to manage the clients’ finances if they are ever incapacitated.

The Medical Power of Attorney nominates people to manage the clients’ health care if they are unable to do so themselves.

The Minor Power of Attorney and Minor Medical Power of Attorney act as a short-term guardian designation in case both parents are incapacitated at the same time.

The Health Care Directive tells the client’s Medical Power of Attorney what to do if they are in a vegetative state (i.e. pull the plug or not).

The Disposition Instructions state what the clients would like to happen to their remains after they are gone.

The Transfer on Death Deed is basically a beneficiary designation for your house. It allows you to transfer real estate without probate while also not needing a trust.
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