This client was an older woman, who was widowed and living with her daughter. She had three adult children.
She previously had Power of Attorney documents, but no Will or Trust. We created a Trust plan for her, so that she could provide her children with specific distributions of jewelry and compensation for caring for her.
Her plan included a:
- Trust;
- Pour Over Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney;
- Living Will;
- Lack of Probate Affidavit; and
- Deed.
The Pour Over Will provides security in case she misses transferring any assets into the trust. It allows the Personal Representative of the estate to “pour” any assets outside of the trust into the trust.
The Power of Attorney documents provide for the client if she is ever in a situation where she cannot make financial or medical decisions for herself.
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 is ever in a permanent vegetative state.
The Lack of Probate Affidavit was used to remove her deceased husband from the title for her real property so that we could funnel the property into her trust.
The Deed we prepared conveyed her home into the trust, so that in the event of her death, the Trustee can follow the specific instructions identified in the trust.
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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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