This client found us through an internet search. He’d had some health complications in recent months, and wanted to make sure that he had a plan in place should something happen. This client didn’t have any children, but he had more than a handful of nieces and nephews that he was close with and also wanted to make sure their children had educational opportunities in their future.

They didn’t have much of a plan to begin with, so we focused on getting the foundation built first. This included:

– Trust;

– Pour Over Will;

– Financial Power of Attorney;

– Healthcare Power of Attorney;

– Living Will; and

– Quit Claim Deed moving property into the trust (probate avoidance).

The Trust enables the client’s 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 Will names people to act as personal representative of the client’s estate, and allow the personal representative to transfer any assets into the trust,  if the client didn’t transferring any during their lifetime.

The Power of Attorney for Finances names people to manage the client’s finances if they are ever incapacitated.

The Power of Attorney for Health Care nominates people to manage the client’s health care if they are unable to do so themselves.

The Advance Health Care Directives include what types of health care the client would like if they are ever incapacitated or in a terminal condition (i.e. in a vegetative state).

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

The Quit Claim Deeds transfer the client’s 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 below to schedule a free strategy session with us: https://cmslawfirm.com/strategysession