This estate plan was created for a woman in her mid-fifties, who was then going through a divorce. She wanted to prepare her estate to funnel her assets from the divorce into a trust, and then to her son at her death.
We prepared a trust plan for her, which included a:
- Revocable Living Trust;
- Pour Over Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney; and
- Living Will.
The Trust provides her assets to her son outright, and ensures that her ex-husband does not receive any part of her estate.
The Pour Over Will provides for any assets that were forgotten by her or did not get transferred or placed into the trust. It gives a personal representative the authority to funnel any asset into the trust, even after the client’s deaths.
The Power of Attorney documents provide the client with designations for individuals to take care of her if she becomes incapacitated.
The Living Will is for end of life decisions, and to take the mystery out of what the client would want to happen to her if she goes into 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: