This client was a single woman in her mid-thirties, with one minor child. She wanted to provide for her child’s future in case anything happened to her while her child was still a minor. She also wanted to provide her son’s inheritance to him in distributions at specific ages.
We prepared a Trust plan for her, so that she could designate these specific distributions.
The trust plan contains a:
- Revocable Living Trust;
- Pour-Over Will;
- Healthcare Power of Attorney;
- Financial Power of Attorney; and
- Healthcare Directive.
The Pour Over Will provides for any assets that the woman may forget to transfer into the trust. It gives a personal representative the authority to funnel any asset into the trust, even after the client’s death.
The Power of Attorney documents provide the client with designations for individuals to take care of her if she ever becomes incapacitated.
We prepared the Health Care Directive for end of life decisions, and to take the mystery out of what the client would want to happen to her if she was in a permanent vegetative state.
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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):
https://cmslawfirm.com/foundation
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