Living Trust

A living trust is a legal document that, like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust avoids probate at death, can control all of your assets, and prevents the court from controlling your assets at incapacity.

Benefits of a Living Trust:

• Avoids probate at death, including multiple probates if you own property in other states
• Prevents court control of assets at incapacity
• Brings all your assets together under one plan
• Provides maximum privacy
• Quicker distribution of assets to beneficiaries
• Assets can remain in trust until you want beneficiaries to inherit
• Can reduce or eliminate estate taxes
• Inexpensive, easy to set up and maintain
• Can be changed or cancelled at any time
• Can prevent contests
• Prevent court control of minors' inheritances
• Can protect dependents with special needs
• Prevents accidental disinheriting and other problems of joint ownership
• Professional management with corporate trustee
• Peace of mind

Financial Power of Attornney

Financial Durable Power of Attorney - This document generally allows your agent to make business decisions for you and to sign your name if you are not able to. For example, your agent could sign checks for you to assure that your monthly bills are paid. the document is "durable" because it will remain effective even if you become incapacitated or disabled.

Medical Power of Attorney

This is similiar to a Financial Durable Power of Attorney, but it is designed to deal exclusively with medical and health care decisions. Your agent is given the responsibility to make medical treatment decisions if you are unable to effectively communicate with your doctor.

Living Will - This is a document which allows you to state in advance your preference regarding the use of life support. You set forth in writing your wishes as to what medical treatment you do and do not want if you are ever seriously ill.

Direct Distribution Plan

Everything is owned jointly with a fiduciary of your estate (usually a child). When you pass away the fiduciary gets the assets so they do not go to probate and then divides them among named heirs.