We created this estate plan for a single man who was a veteran, and lived with his son, his son’s wife, and his son’s child. This man was physically disabled but clear of mind. He wanted to designate where his home would go.
We created a will plan for him, which included a:
- Power of Attorney for Management of Property and Personal Affairs;
- Power of Attorney for Health Care;
- Advance Health Care Directive;
- Final Disposition Authorization and Instructions; and
- Transfer on Death Deed.
The Will designates where most of the property in the Estate will go, and who will manage distributions of the property and finalization of all liabilities and assets.
The Power of Attorney for Finances allows the client to designate people to act for him to manage his property and finances if he is ever unable to do so.
The Power of Attorney for Health Care names people to manage the health care for the client if he is in a state in which he cannot do so himself.
The Advance Health Care Directive states what the client’s wishes are in regard to his health care if he is ever in a permanent, vegetative state.
The Final Disposition Instructions detail what the client would like to happen to his remains after he is gone.
The transfer on death deeds allows his property to pass to his chosen beneficiary upon his death, without the need to go through probate.
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: