Protecting you and your family during your life time and after your death are the real goals of an Estate Plan. The Trust or Will portion of the Estate Plan should preserve as much of the value of your assets as possible by avoiding unnecessary expense, costs, fees and taxes.
The Trust should provide the most for you and your family during any incapacity you may experience and after your death. Other documents, as well as the Trust and Will, allow you to direct how, to whom and when your assets will be used and distributed.
An Estate Plan will usually include a Trust, a Will, a Power of Attorney for Asset Management, an Assignment of property, an Advance Health Care Directive (also known as a Living Will), an authorization to release protected health information, and asset transfer documents. Not all of these documents are always advised.
Estate Plans, to be functional, must include identifying and keeping track of your assets, your life changes, and your family and fiduciary dynamics on an ongoing basis. There are several different types of trusts that may be chosen from to accommodate your particular situation. Below is a list of some of those types of trusts, as well as other estate plan documents.
- Living Trust also referred to as Revocable Trust
- Revocable Trust (Several types available)
- Multi-state Trust
- Domestic Partnership Estate Plans
- Irrevocable Trust (Several types available)
- Special Needs Trust (for Disabled)
- Family Trust
- Domestic Partnership Trust
- Elder Law Trust
- Will with Trust as part of the Will
- Pour over into Trust Will
Power of Attorney for Financial Matters and Asset Management
- Immediate Power of Attorney (Durable)
- Springing Power of Attorney (Durable)
- Statutory Power of Attorney
Health Care Documents
- Advance Health Care Directive (Living Will)
- Authorization to Disclose Protected Health Information (HIPAA)
- Document putting tangible personal property into Trust
- Other Assignments as needed
Asset Transfer Documents
- Real Estate Property Transfer documents
- Deeds, Change of Ownership Forms, Request for Exclusion from Property Reassessment
- Affidavit Death of Trustee
- Affidavit Change of Trustee
- Power of Appointments
- Spousal Property Petition (securing spouses community property rights where joint tenancy an issue)
- Heggstad Petition (putting property into a trust post death)
Edith is available for hospital and home bound visits.
Contact Edith or phone her office at (619) 297-7441.