Estate Plan Consultation


Estate planning uses a combination of documents designed to help you while alive and with passing your assets on to loved ones.

To ensure you understand how estate planning works, we’ll provide you a free consultation reviewing the process and what needs to be done to ensure the best possible estate plan.

Estate Planning Flowchart
Trust Administration Checklist
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DURING LIFETIME
Plan for Unexpected Events

FINANCIAL – DURABLE POWER OF ATTORNEY
Grant Authority to Someone You Trust To Act On Your Behalf
Includes ability to: write checks, open/close
bank accounts, sign loan documents etc.
Typically “Springing”
(Resulting from an events)
FINANCIAL – DURABLE POWER OF ATTORNEY
Grant Authority to Someone You Trust To Act On Your Behalf
Includes ability to: write checks, open/close
bank accounts, sign loan documents etc.

Typically “Springing”

(Resulting from an events)

Key Terms: Principal (Originator) – Person creating the documents. Agent – Person granted authority

POST-MORTEM
Generational Transfer

“POUR-OVER” WILL
Instructions transferring your assets to a trust and the care of your minor children
Assigns Assets to Trust
Declares Guardian

Key Terms: Executor – Enacts Instructions and
Administers Estate

REVOCABLE “LIVING” TRUST
Instructions concerning how assets should be distributed to beneficiaries based on your intent

Avoids Probate
Avoids Death Tax
Identifies Beneficiaries

Key Terms: Settlor (Trustee) – Creates Trust Successor Trustee – Marshal, Inventory, and Appraise Assets. Pays Debts and Bills, Submits Final Tax Returns, Prepare Final Accounting, Establish Support Trusts, and Distribute Remainder to Beneficiaries

FUNDING
Transferring Assets

DOCUMENTS How to Title Assets in the name of your Trust Designated Beneficiaries Schedule of Assignments

DUAL REPRESENTATION AND ETHICAL ISSUES RELATED TO A WAIVER OF THE ATTORNEY CLIENT PRIVILEGE OF CONFIDENTIALITY:

The Attorney Client Privilege of Confidentiality protects confidential information communicated between an Attorney and client.  When more than one person participates with the consultative process, the Attorney Client Privilege of Confidentiality will not protect confidential information communicated to your Attorney with those who participate with the consultative process.  If a conflict should arise between you and those who participate with your consultation with the Attorney, your Attorney may be required to provide testimony pertaining to the information provided during the consultation.