We created this estate plan for a married couple in their seventies with no children. They wanted to leave a portion of their estate to most of their extended family, including siblings, nieces, nephews and friends.
We created a trust plan for them that outlined the exact percentages that the couple wanted each person to receive. They also wanted a specific distribution of real property.
Their trust plan included a:
- Pour Over Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney; and
- Living Will.
The Pour Over Will provides security in case the clients miss transferring any assets into the trust. It allows the personal representative, or trustee settling the estate, to “pour” any assets outside of the trust into the trust.
The Power of Attorney documents provide for the couple if they are ever in a situation in which they cannot make financial or medical decisions for themselves.
We prepared the Health Care Directive for end of life decisions, and to take the mystery out of what the couple would want to happen to them if they are ever 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: