These clients were a married couple with two minor children, one of which was a newborn baby. They wanted to provide for each other, and their children.
We created a trust plan for them, which included:
- A Trust;
- A Power of Attorney for Minors;
- A Power of Attorney for Health Care for Minors;
- Powers of Attorney for Finances;
- Powers of Attorney for Health Care;
- Advance Health Care Directives;
- Disposition Instructions;
- A Babysitter Manual;
- Letters to Short-Term Guardians;
- A Guardian Instruction Booklet; and
- A Quit Claim Deed.
The trust details where the clients would like their assets to go after they are gone, and allows the assets to be distributed without going through probate.
The wills name people to act as long-term guardians of the children if the parents pass away when the children are still minors. They also name people to act as a personal representative, in case the clients miss transferring any assets into the trust.
The power of attorney for minors includes designations for short-term guardians, and gives them the authority to act for the minors if anything happens to the parents while the parents are still living.
The power of attorney for health care for minors states the same short-term guardians, and gives them the authority to manage the minors’ health care if anything happens to the parents while the parents are still living.
The powers of attorney for finances names people to manage the clients’ assets if anything happens to the clients while the clients are still living. This document additionally gives them the authority to do so.
The powers of attorney for health care state who the clients would like to manage medical treatment for each of them if anything happens to them while they are still living, and gives those individuals the authority to do so.
The advance health care directives detail what kind of health care the clients would like to be provided if they are ever permanently incapacitated.
The disposition instructions list what the clients would like to happen to their remains after they are gone.
The babysitter manual includes instructions to a babysitter as to what to do and what not to do if an emergency happens. It also includes names and contact information for both of the parents, and the short-term and long-term guardians.
The letters to short-term guardians have instructions to each short-term guardian in regard to taking care of the children, and also include the contact information for and names of the long-term guardians.
The guardian instruction booklet leaves detailed instructions written by the parents to the guardian, to familiarize the guardian with their personal beliefs and how they would like their children to be raised and cared for.
The quit claim deed transfers the clients’ interest in their real property to the trust, so it can be distributed according to their wishes without passing 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: