These clients have three adult children who all get along, a house, some savings and retirement. We kept it simple while also ensuring that their assets would pass efficiently to their children. By updating their beneficiary designations on everything, their assets will largely avoid probate. But a current estate plan which includes Wills is still something everyone needs.

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 names a personal representative (i.e. executor) of the clients’ estates and directs how property will be distributed.

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 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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