Paul Curtis
Attorney And Founder
Living Trust Lawyers
- $1,200 Single person package*
- $1,500 Married person package*
Affordable, Complete, Revocable Living Trust Packages for Small and Medium Estates.
- Affordable estate plan for a low flat fee
- Eliminate Probate
- Avoid Conservatorship
- Private
Complete Packages Include
(Click Text For Description)
- Revocable Living Trust
- Declaration of Trust
- Pour-over will
- Durable Power of Attorney for Healthcare
- Living Will
- Durable Power of attorney for Asset Management
- Easy to follow Instructions
A revocable living trust is a legal document where you transfer ownership of your assets to a trust, allowing you to maintain control over them during your lifetime while also naming beneficiaries to receive them upon your death, with the key feature being that you can change or revoke the trust terms at any time while you are still alive and competent; essentially, it's a way to manage your assets and distribute them according to your wishes without going through the full probate process after you pass away.
Key points about a revocable living trust:
- Flexibility:
- You can modify or cancel the trust at any time as long as you are mentally capable.
- Control over assets:
- You remain the primary beneficiary and can use the assets in the trust while you are alive.
- Potential to avoid probate:
- By transferring assets to the trust, your estate probably will not need to go through a probate court process after your death.
- Privacy:
- Details of the trust are generally not public record.
- No creditor protection:
- Unlike an irrevocable trust, a revocable trust does not usually provide protection from creditors.
Who might benefit from a revocable living trust:
- Individuals concerned about privacy regarding their estate.
- Those who want to ensure their assets are managed according to their wishes if they become incapacitated.
"A "declaration of trust" is a legal document that outlines the details of a trust, including who the trustee and beneficiaries are, essentially establishing the terms of the trust; while an "abstract of trust" is a shortened version of a declaration of trust, providing basic information about the trust's existence without disclosing sensitive details like specific beneficiary names, often used to verify the trust's validity to third parties without revealing full details.
Key points about a declaration of trust:
- Purpose: To legally create a trust by defining its structure, beneficiaries, and trustee responsibilities.
Key points about an abstract of trust:
- Purpose: To provide basic proof of a trust's existence without divulging confidential details, often used when dealing with financial institutions.
Information included: Trust name, trustee details, and sometimes a general description of the trust's purpose.
Use cases: When a third party needs to verify the trust's existence without accessing full details about the beneficiaries or assets.
A "pour-over will" is a type of will that directs any remaining assets not already included in a living trust to be "poured over" into that trust upon the person's death, essentially ensuring all assets are distributed according to the trust's terms and potentially minimizing the probate process involved with estate settlement; it acts as a safety net to capture any assets accidentally left out of the trust.
Key points about a pour-over will:
- Function: It primarily functions in conjunction with a living trust, transferring any assets not already within the trust to it upon the person's death.
Minimizing probate: By directing assets to the trust, a pour-over will can help reduce the amount of property that goes through probate court.
Naming the trust as beneficiary: The will essentially names the living trust as the beneficiary of any remaining assets.
Why it's called "pour-over": The term "pour-over" refers to the action of transferring leftover assets into the trust, like pouring liquid from one container to another.
A living will is a legal document that states how you want to be treated if you are unable to make medical decisions for yourself. It's a type of advance directive that can help ensure you receive the care you want if you are seriously ill or incapacitated.
What does a living will include?
- Medical treatments:Â What treatments you want and which ones you want to avoid
- End-of-life care:Â Whether you want to be resuscitated, or if you want to receive certain treatments
- Organ donation:Â Whether you want to donate your organs, tissues, or entire body
- Religious considerations:Â If your faith influences your medical decisions
When does a living will take effect?
- A living will usually takes effect after a doctor certifies that you are incapacitated and nearing the end of life
Why is a living will important?
- A living will helps your medical providers understand your wishes
It can serve as a guide for your family, health care providers, and other representatives if they have to make medical decisions on your behalf.
A durable power of attorney (DPOA) for asset management is a legal document that allows someone to manage your assets if you become incapacitated. The agent can make financial decisions on your behalf, such as managing your investments, paying bills, and buying and selling real estate.
How it works:
- The principal (you) names an agent to manage your assets.
The DPOA takes effect when you sign it, or when a certain event occurs, such as you becoming incapacitated.
The DPOA remains in effect until you die.
What it can be used for:
- Managing your investments
- Paying bills
- Managing bank accounts
- Selling stocks
- Writing checks
- Depositing Social Security checks
Opening and closing accounts Why it's important
- A DPOA can help ensure your finances are cared for if you become incapacitated.
- It can help you avoid costly court proceedings if you lose the ability to make decisions.
Your trust binder will include easy-to-understand definitions of legal terms and an explanation describing each of the documents included in your living trust package. It also includes instructions on trust funding, and has optional space for you to fill out any special burial instructions, locations of important documents, and names and contact information of specialists and advisors
"A "durable power of attorney for health care" is a legal document that allows you to designate someone else to make medical decisions on your behalf if you become unable to make those decisions yourself due to incapacity, essentially giving them the authority to act as your healthcare agent in such situations; it's also known as a "health care proxy" or "medical power of attorney."
Agent:
The person you choose to make medical decisions for you is called your "agent" or "healthcare proxy."
Important considerations:
Specific instructions:
You can provide detailed instructions about the types of medical treatments you want or do not want to receive in your document.
Legal validity:
This document needs to be properly executed and signed according to your state laws.