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Wills & Trusts
An estate plan is structured around either a Last Will and Testament or a Revocable Living Trust. Both documents allow you to state your wishes for who inherits your assets, and how they are inherited. With a Will-based plan, your estate will go through probate whereas with a Trust-based plan, your estate avoids probate. We can walk you through the differenced between Wills and Trusts and help you decide which option makes the most sense for you and your loved ones.
Revocable Living Trusts
Revocable Living Trusts hold your property while you are alive and contain instructions for distributing that property after you pass. Revocable Living Trusts do not have to go through the time-consuming and expensive process of probate. With a Revocable Living Trust, the trustee transfers the trust assets to your beneficiaries according to your instructions, without the supervision of the Court. Revocable Living Trusts require more work to set up. However, once the initial set up is taken care of, a Revocable Living Trust is easy to maintain.
Revocable Living Trusts are a good option for families who have accumulated assets – such as a home – that they want to protect, and for parents with children who are not ready to manage an inheritance. A Revocable Living Trust allows families to decide at what age their children should receive control over their inheritance. For example, a thoughtful trust will give children a chance to “practice” managing a portion of their inheritance with the security of knowing that a level-headed trustee, chosen by you, is keeping the remainder of the inheritance secure.
Our flat fee Revocable Living Trust Plans start at $5,200 and include the following documents:
Revocable Trust
Certification of Trust
Pour Over Will
Guardian nomination (if applicable)
Power(s) of Attorney for Finance
Power(s) of Attorney for Health
End-of-Life Care Wishes
HIPAA Authorization
Final Disposition Instructions
Instructions for Disposition of Personal Property
Assignment of Personal Property to Trust
Transfer of Personal Residence into Trust
Update to Homeowner’s Exemption
Assignment of Business Interests to Trust (if applicable)
Summary of Trust Provisions
Asset Inventory
Customized To Do List for Trust Funding
Want more information on Revocable Living Trusts? Click here to read our blog post on the importance of including a Children's Trust in your estate plan if you have minor children, or if you are leaving money to someone else's children, and here for a blog post discussing why Revocable Living Trusts aren't just for the very rich. For more information on the key roles in a revocable living trust click here and on choosing the right trustee, please click here.
Wills
Wills let you designate a guardian for your minor children and designate who receives your assets when you pass. Wills can be a good option if you have a modest estate or if there is the potential for creditor issues when you pass. With a Will, your estate must go through the probate process for your loved ones to inherit your assets. Many people prefer to avoid the cumbersome probate process. However, Wills are still a good option for people who prefer simplicity but want the peace of mind of knowing that their assets will pass according to their wishes. For more information on the probate process, please click here.
Our flat fee Will plans start at $3,200 and include the following documents:
Will(s)
Guardian nomination (if applicable)
Power(s) of Attorney for Finance
Power(s) of Attorney for Health
End-of-Life Care Wishes
HIPAA Authorization
Final Disposition Instructions
Instructions for Disposition of Personal Property
Asset Inventory
