Start planning your future today
Start planning your future today
Revocable Living Trust
• The Revocable Living Trust is the centerpiece of your Estate Planning Portfolio.
• The trust is completely under your control. As the name implies, your trust is fully revocable while you are alive. You may alter, amend (in whole or in part), or even revoke your trust at any time. You can transfer your assets back out of your trust just as easily as you can transfer your assets into your Trust.
• The person who manages the Trust is called the Trustee (in most cases you are the Trustee initially). After your passing, the successor Trustee you appointed can manage and distribute assets to the benefIciaries of the Trust.
• If you have children (even grown kids) you have the option of creating a sub-trust to hold their assets until they reach a certain age or split distributions over time at three different ages. This prevents a potentially immature young adult from receiving a windfall that might cause more damage than good. You can even allow early withdrawal for educational expenses, First home, wedding or even a business.
• You can even stipulate certain beneficiaries as “income only”, and prevent them from getting a “lump sum” distribution and allow them only to draw and income for education, maintenance and support.
Certificate of Trust
• The CertifIcate of Trust is primarily for providing evidence to a transfer agent (brokers, bankers, account managers etc.) about certain facts concerning your trust.
• This document helps protect your privacy by not disclosing the full details of your trust when funding assets into your trust.
Durable Powers of Attorney
• “Durable” means that the appointment of the power will “endure” even after your incapacitation.
• A Power of Attorney will give your appointed agent the power to make certain decisions on your behalf when you are unable to do so.
Durable Financial Power of Attorney
• This document appoints an agent(s) to perform financial decisions regarding any assets not funded into your Trust at the time of your legal incapacitation. (For assets already funded into the Trust, the Trustee already has this authority.)
• Not only do you get to decide who makes financial decisions on your behalf, you also protect your privacy and save money by avoiding expensive court and legal fees.
• Having a Durable Financial Power of Attorney will help help avoid a court supervised guardianship/conservatorship in the event of legal incapacitation where all finances become a matter of public record.
Durable Power of Attorney for Healthcare
• This document allows your appointed agent(s) to make important health care decisions for you in the event of your incapacitation.
• In conjunction with your Living Will, your agent can make all important healthcare decisions, including the continuation of life support systems.
Durable Agent Notice
• The Durable Agent Notice serves to notify, in writing “to whom it concern” that your agent has accepted the appointment and will carry out such duties.
Comprehensive Asset Funding Kit
• Your Trust is like an empty basket. You must Ill this basket with your assets by transferring them into the Trust. This process is called “Funding”.
• To avoid probate, its vital to fully fund your trust once completed, so we have developed our exclusive Funding Kit to help you through the process of moving your assets into the Trust, (called “Funding”).
• The Funding Kit provides detailed instructions on nearly every possible type of asset and how you can fund it into your Trust.
Transmittal Letters (for Funding, Retitlement & BenefIciary Changes)
• Our system will generate funding letters for each of your assets for you, just follow the guide.
• Retitlement letters can be mailed to respective agencies (transfer agents) for transfer of title.
• BenefIciary letters allow you to mail to respective agencies a change of benefIciary of your various assets.
• There are other documents also included for other functions.
• 24/7 access to the Comprehensive Funding Kit: The key is to get organized, and make a list of your assets. Don’t worry if you do not have everything ready at once. You can login at any time to continue the process and continue where you left off!
• Keep your trust up-to-date at no additional charge. When new assets are sold or acquired; log back in to update your funding. Unlike other solutions there is no “change fees”, as long as your account is active you can log in and access all the features.
Last Will & Testament
"Pour Over Will"
• The Last Will and Testament included in your document set is better described as a “Pour-Over Will”. It is used in conjunction with a Revocable Living Trust and its primary function is to convey everything you have forgotten to fund into the trust prior to your death (hence “pour-over”).
• Please note that unless your remaining assets are minimal in value, all non-trust (un-funded) assets must go through probate first. So be sure to use the Comprehensive Funding Kit (below) to keep your asset funding up-to-date.
• In addition you may appoint guardians for your minor or disabled adult dependents so you can be assured who will take custody.
Living Will & Advanced Medical Directives
• Living Will and Advanced Health Care Directives allow you to determine how you want medical care administered if you have a terminal illness or are in a comatose state.
• If such a condition should happen to you, these instruments will serve to give notice to medical professionals your wishes (such as if you desire whether or not to be kept alive by artifIcial means).
• Your Living Will agents are also considered to be the guardian of your person. In most cases, your Advanced Health Care Directive can take the place of a Living Will.
• Many healthcare providers require a Durable Power of Attorney for Healthcare in conjunction with a Living Will to carry out the decrees of a Living Will. It is important that your agents for your Durable Power of Attorney for Healthcare are the same as your Living Will. (Both documents are included in your comprehensive estate plan).
Durable HIPAA Statement
The Durable HIPAA Statement grants an exception to the privacy restrictions of the HIPAA law to allow for personal information to be provided to the Agents you have appointed so they can make an informed decision regarding your medical care.
Legacy Estate Planning
With our unique law firm relationship and with the aid of technology we are able to provide a complete customized Estate Planning package at a deep discount for our clients. Our complete estate planning package includes all of the following: