Comprehensive Estate Planning Package
Our Comprehensive Estate Planning Package includes 4 main documents
- Revocable trust
- Pour-over will
- Durable power of attorney for asset management
- Advanced Healthcare directive
Rex Crandell Firm will complete your Estate Plans from start to finish!
The number of documents each client gets with our comprehensive estate plan may be surprising. We have outlined the 4 main documents below and explained what they are.
A revocable trust is the first document we prepare.
A revocable trust can handle any real property and the trust includes the provisions about who’s going to be successor trustee and who’s going to get what assets at what particular time in their life. The revocable trust will also include any agreements between the spouses. The Revocable Trust is the centerpiece of a comprehensive Escape Plan.
The next document we prepare is a pour-over will.
Normally the pour-over will is fairly short. This is because it says if you want to know what you would like to have done with my assets go read the trust. In essence it just points back to the trust for assets that perhaps mistakenly were not labeled in the name of the trust.
The next document we prepare is a durable power of attorney for asset management.
What this does is helps prevent the requirements to have a conservatorship supervised by the court if you become incapacitated with something like Alzheimer’s for example. There is no need for court involvement if you have the durable power of attorney for Asset Management in place. The court does not need to be involved in managing your assets and paying your bills.
The final document prepared in a comprehensive estate plan is an advance Healthcare directive.
This document allows an agent or third-party family member to make medical decisions on your behalf if you are unable to or don’t want to. Most Hospitals now require this type of document before they’ll admit you in for any kind of treatment.
Other documents included in a comprehensive estate plan
Another type of document we prepare for an estate plan is a transfer of personal property.
This transfers any personal property you might own into the name of your trust. This handles any assets that are not registered with a recognized title document.
Real property must be labeled correctly in a comprehensive estate plan. It needs to be labeled in the name of your trust. This is accomplished by preparing and filing the proper transfer Deeds.
The essential for 4 documents of a comprehensive estate plan are a revocable trust, a pour-over will, a durable power of attorney for asset management and an advanced Healthcare directive. Other documents we prepare are letters to Banks or financial institutions, instructions for successor trustee and more.
Have questions regarding our Comprehensive Estate Planning Package?
Rex Crandell Firm, in Walnut Creek, CA is ready to help you get your estate in order!
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