These clients were a married couple in their sixties, with two adult children. Their goals were to provide for each other, their children, and the husband’s mother. They also wanted to avoid probate, and donate to charity.
We created a trust plan for them, which included:
- A Trust;
- Powers of Attorney for Finances;
- Powers of Attorney for Health Care;
- Advance Health Care Directives;
- Disposition Instructions; and
- A Quit Claim Deed.
The trust enables the clients to avoid probate, and details where the clients would like their assets to go. It also names people to act as trustee of the trust, and allows the clients to provide their assets for specific things throughout the lifetime of the trust if they so choose.
The wills name personal representatives to act in case the clients miss transferring any assets into the trust.
The powers of attorney for finances name people to manage the clients’ assets if anything happens to them while they are still living, and they are unable to do so themselves. It also gives the people named the authority to act.
The powers of attorney for health care name people to manage the clients’ medical care if anything happens to them while they are still living, and they are unable to do so themselves. It also gives the people named the authority to act.
The advance health care directives state what type of health care the clients would like if they are ever incapacitated.
The disposition instructions state what the clients would like to happen to their remains after they are gone.
The quit claim deed transfers the clients’ real property into their trust, so it can avoid 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: