These clients were a married couple with three adult children. They wanted to split their estate between their three children and provide a few specific distributions for jewelry and household items.
We prepared a trust plan for them. This included:
- A Trust;
- Pour Over Wills;
- Financial Powers of Attorney;
- Healthcare Powers of Attorney;
- A Living Will; and
- A Deed.
The Trust designates where the clients’ assets will go, and how they will be distributed.
The Pour Over Will provides security in case any assets are missed being put in the trust. It allows the Personal Representative 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.
The Deed we prepared conveyed the clients’ home into the trust, so that in the event of their death, the Trustees could sell the house or pass it down to their children.
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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
And, if you know you just want to talk, click the link below to schedule a free strategy session with us:
