This client was a man in his mid-forties who was about to get married. He wanted to plan for his estate and have a prenuptial agreement arranged for him and his soon to be spouse. We created a will plan for him, that divided his assets among his family members in the United States and Korea.
The will plan contained:
- A Will;
- a Financial Power of Attorney;
- a Healthcare Power of Attorney;
- a Healthcare Directive; and
- the Prenuptial Agreement.
While the client did have a large amount of assets, most of his estate was real estate in Korea. Since those properties would not be subject to Washington estate tax law, we drafted a simple will. A probate would be filed in this case, but it would be easy to settle as the amount of assets in the United States was limited.
The Prenup provided an agreement between our client and his soon to be spouse as to what each individual would get out of their combined assets in the event of a divorce.
The Financial Power of Attorney and Medical Power of Attorney are to provide for the client in the event that he is in a situation where he cannot make financial or medical decisions for himself.
The health care directive is for end of life decisions and taking the mystery out of what the client would want to happen to him if he was in a permanent vegetative state.
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: