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The features of our most common estate plan are outlined below. We refer to it as our every
needs that are more sophisticated and which require special approaches, documents and
provisions. This is particularly true in tax savings matters or where special family needs
exist.
Our FAMILY ESTATE PLAN commonly includes the following:
1) a Durable Power of Attorney. These take effect only when you are incapable of caring
for your affairs. This avoids court costs, stress, in fighting, and delays in the appointment of
a conservator.
2) a Health Care Declaration. These permit you to direct the type and manner of medical
assistance you want - or choose not - to receive if you should suffer from a terminal illness.
3) a Last Will and Testament. This allows you to choose and appoint the person who
will administer your estate affairs. Most importantly for young families, it also allows the
selection of a guardian and conservator for your minor or incompetent children. But for
everyone the Will is used in combination with a revocable trust. In that situation the trust will
hold all your assets and the will is used to address very unusual circumstances should they
unpredictably occur, like distributing to the trust awards resulting from a wrongful death
lawsuit. The will, when it is probated is public record.
4) a Revocable Trust. This allows you to collect, manage and distribute your assets to
those you select at the right time. It also allows you to remain in complete control of your
property during the time you are alive and to use your property in any way you see fit. The
Trust is not available to the public so what you do will not be disclosed to the public.
We write the documents in a way so they are coordinated and work together and they are
specifically tailored to your needs and your objectives.
Your objectives and intentions are first and foremost important. Keeping matters as simple
and straight forward possible is our other goal.
Keep in mind each person's situation is unique. So, when it comes time for considering the
details, you’ll find that we will spend all the time necessary to address every one of your
questions, concerns and objectives, no matter how picayune it may appear to be to others.
HOW WE CREATE A FAMILY ESTATE PLAN
Unless there is a need for quick action, we will raise and work with you over the course of a
couple of weeks so you have plenty of time to consider and comfortably make your
decisions. Your decisions are obviously not only important to you but they could have long
lasting impact on your family and other people important to you.
Once you decides who should receive what and how your assets should pass, the rest is
really quite easy. But we will set a upcoming dates for you so the process continues to go
forward.
The most common admission for many, many people who initially consult with us is that they
had procrastinated (sometimes for years) in taking their first steps in creating an estate
plan. But from that point on, procrastination should not continue because it commonly
results in some disadvantage to the loved ones they intend to benefit. So, our one of our
goals is to help you keep things moving forward.
When you consult with us, you will hear about legal and practical issues concerning your
property holdings and family relations. We discuss life insurance, stocks, bonds, savings
accounts, real estate, conservatorships, guardianships, and tax impact, etc., where
necessary and most importantly, we listen to you tell me what you want to accomplish. This
will not be an overwhelming task because we will help you through it.
Of course, you have heard many different stories about the manner in which property should
be held, the effects of probating property and the interests in that property of the federal and
state governments. Suffice it to say, that it has been my experience that much of the
concerns voiced by clients about their estate are easily answered and managed. You will
develop a clear understanding about the law and you will leave with a definite peace of
mind. No longer will you have to feel unsure, or be fearful of the manner in which your
property and family are to be cared for.
Below, I outline several areas of conflict which many people confront early in their thinking
about estate planning. This leads us to basic rule #1: You must help me by making full and
accurate disclosure of your assets and your intentions. This means that you must tell me
about everything you own and what you want to accomplish.
Easy enough, we have an outline that helps you with all of that.
I will then use this information to continue the process
TAX ISSUES
Because of the nature of the federal estate tax and state inheritance laws, failing to properly
structure your estate could result in additional tax. For some estates this could amount to
hundreds of thousands or millions of dollars. Still, for most people there aren't any
significant tax concerns. But if there are we'll talk the issues out with you and you'll be
comfortable with the choices and decisions you'll need to make.
It's my experience that most people want to preserve as much of their property for their family
and other loved ones. So, I regularly use an example and ask each client to tell me how
important it is to them to save tax so the money passes to a family member rather than the
government. If taxes are a concern, it doesn't matter how much money is really at risk. It
could be $20,000.00 or $4,000,000.00. The point is still the same.
Some people tell us it is important that we help minimize what the government takes. Many
tell me that because they consider their property to be the end result of their years of work
and effort, believing that it can be a leg up to their younger surviving family members.
Still, and possibly just for your information, I’ve had other clients who intentionally structure
their estates so more tax is due. People of that mind usually worked for the government their
entire lives. They were dedicated, thankful and loyal workers and citizens who want to say
thanks for the opportunities and benefits they enjoyed.
So, again, every person's estate problem is absolutely unique. Which means that no two
people and no two estate plans are exactly alike.
BUT WHAT ABOUT YOUR NEEDS?
We start with the point of view that everyone has to reserve enough assets for themselves to
adequately meet their financial needs. Transferring property away to other people without
first considering your future needs is dangerous to say the least. Yet we see it done by
people, including other professions quite often and we've observed that it happens when
people are misinformed or when they don't fully consider all reasonable possibilities. We
also see it when people, who really don’t understand the intricacies of the law, or who
overstate the reliability in their relationships with others, think they can out-wit or out-clever
others or the government. An example of this is when someone transfers their assets
during their life by changing names on titles and deeds. Aside from the possible gift tax
obligations involved, there are definite legal consequences and limitations if something
should change or go wrong and the property or money is later need. Actions of that kind
reveal at a later time that they were actually self destructive.
So, the question is how much is enough?
It may be surprising to you, but our experience compels us to suggest that you consider your
future expenses and multiply them by at least a factor of 2 or 3 to accommodate for the
realties of inflation and all the extra living expenses that accompany aging.
YOUR ULTIMATE FAMILY OBJECTIVES
You need to tell me who is important to you and how you want them to benefit. We’ll discuss
your thoughts and I’ll talk to you about what I’ve seen in the 25 years I’ve addressed issues
of this kind. You’ll be pleasantly surprised by the alternatives we can tailor if it is necessary.
Everything we do it intended to meet your needs and objectives. We consider these
documents as a means to convey positive constructive and long lasting influences to your
loved ones. Indeed your love and your influence can impact many generations of family to
follow you. How wonderful it is to know that you will remain part of their lives.
PROBATE
I believe everything needs to be kept in context. With that in mind, I want to take a moment
and discuss the obsession the public seems to have about avoiding probate.
Yes, avoiding probate is a legitimate goal and the FAMILY ESTATE PLAN does that.
Moreover there are times when probate needs to be avoided at all costs. Still, the problem is
that conventional "wisdom" seems hell bent on avoiding probate and unfortunately we see
far to many things that were done under that guise but which in fact undermine or destroy
important family objectives. Sometimes people go through all types of gyrations to avoid a
process that was actually instituted to protect them, their estate and their beneficiaries and
many things that are done actually add to the risk of estate asset loss, erosion, theft, abuse
and family conflict.
In the FAMILY ESTATE PLAN your assets are subject to a Revocable Trust, which actually
receives, holds and distributes your assets. That trust is not subject to probate and it
remains private - meaning its terms are confidential and will remain unknown to the general
public. The Last Will and Testament is included in your Family Estate Plan to supplement
the trust in very unusual circumstances and which you can’t predict.
I outline other advantages to the Revocable Trust below. But first, I want to outline some
basic rules and understandings in estate planning.
1) If you don’t have a Trust or a Will, the State laws will divide your property amongst
certain people that survive you. That law is referred to as the law of intestacy. The amount
eligible people receive is also determined by the statute. This also means that some family
members may not benefit at all and it means that friends and churches or other charities are
excluded.
2) The law of intestacy distributes only assets that are part of your “intestate estate”. This
commonly includes your personal property and cash, titled property that only includes your
name as owner, and proceeds from life insurance policies payable to your estate. It doesn’t
include any life insurance proceeds payable to others or jointly titled property.
3) Jointly titled property passes by operation of law to the other surviving owner(s). This
is deeply rooted in the history of the law. Examples of joint titled property commonly include
land, homes, vehicles, bank accounts and certificates of deposit. Your will or trust has
nothing to do with it.
4) Life insurance on your life passes by way of operation of law at the moment you die.
This is basic contract law. Your will or trust has nothing to do with it.
5) So, having a will does not mean that your property will go through probate because if
you have only jointly titled property and life insurance there is nothing that is subject to your
will. Property of that kind is said to “pass outside your estate” (but beware because its value
is considered for tax purposes) (see below).
6) Anyone who makes property joint with someone else to avoid Probate Court expense
runs serious risks. This should not be taken lightly. It is not uncommon to find a change or
breakdown in relationship that results in the other owner refusing to comply with basic
requests for help. Sometimes the other joint owner actually withdraws all the money too.
Even if the matter is litigated very definite rights appear to be created in the other “owner” as
soon as the joint title is created that may have to be resolved at significant expense in time,
anxiety and money to your estate and your intended loved ones.
7) Property should not be left outright to children under age 18. They are inexperienced
and they become targets for other people who want that property.
8) If your total assets, including home, car, bank accounts, life insurance, etc. exceed the
amount of your estate tax credit for federal estate tax purposes, we need to consider the tax
consequences.
9) If you are in a second marriage, you should have a will and at the very least should
consider a trust. Very special protective terms can be added to help you meet your objectives.
10) Your will does not have to leave even $1.00 to relatives if you want to omit them.
There is an exception to this rule as it applies to spouses. Nonetheless, as for any other
family member, you can strike benefit to anyone else completely or in part.
11) Confounding as it may seem assets that pass by way of operation of law (like joint
property) and by way of contract (like insurance proceeds on your life), still have to be
considered as part of your estate for federal estate tax purpose. In other words the value of
those assets are considered when determining how much, if any tax, is due the IRS from
your estate. So, here’s an example that shows the danger. If Bob dies with a Will that leaves
all his property to his wife, and at the time he dies he ahs $200,000 in cash, $4,000,000.00
in joint property with a brother and $3,000,000.00 in life insurance on his life payable to his
16 grandchildren, the amount of tax on the estate will exceed the cash in the estate. Who
much will his wife receive from his Will? What’s she going to live on? And where’s the other
money going to come from to pay the IRS the mountain of money that is due in federal estate
tax?
12) In the above example, good and timely legal advice and planning could reduce these
taxes to zero and provide appropriately for Bob’s surviving spouse.
13) A good estate plan requires that assets be appropriately registered into proper
names and be certain that primary beneficiaries and contingent beneficiaries are properly
named on insurance and employee benefit plans.
SOME FEATURES OF THE FAMILY ESTATE PLAN.
THE DURABLE POWER OF ATTORNEY
Everyone, young, old, single, married should carefully read this. All states now have an
effective estate planning tool: the durable power of attorney. General powers of attorney had
never been very useful as a planning tool. For example, if dad advanced in years, gave a
general power of attorney to his son so the son could manage dad's affairs and then had a
stroke and became incompetent, the general power of attorney was canceled and of no
effect when dad became incompetent. This is how the law looked on things. But the new
durable power of attorney laws say that you can give a power of attorney to a relative, a non-
relative or a trust company. If you recite that the power remains valid even if you later become
incompetent or that it become valid when you become incompetent, then the power remains
in force and effect. This is a simple tool and provides significant lifetime benefits.
Every husband and wife should give each other a durable power with a alternate named *to
act if both spouses are incapacitated. Everyone, especially senior citizens, should sign such
a durable power of attorney.
THE PATIENT ADVOCATE
The law has also addressed the issue as to who should make decisions concerning
continued medical treatment for an individual who experiences a life terminating illness or
injury. If you would like to appoint another to exercise, on your behalf, the choice of
terminating medical treatment in circumstances such as these, then you must have
executed a Patient Advocate Agreement, sometimes called a Health Care Declaration, which
when coupled with a durable power of attorney grants the individual the legal authority to do
so.
THE REVOCABLE TRUST
A simple REVOCABLE TRUST, which is the centerpiece of our FAMILY ESTATE PLAN can be
used to:
1) maintain the highest level of privacy and confidentiality the law gives and you don't
have to rely on the promises of others that they will "keep things private". Imagine that! Your
Family Estate Plan is private and your affairs, the nature of your property, its value, the names
of your beneficiaries and the amounts they receive do not become public record. You don't
have to worry about them being bombarded with phony claims, overwhelmed by pushy
salesmen, or other greedy family members.
2) avoid to court to have someone appointed as guardian or conservator if you should
fail. You can make all these choices NOW and you can be sure that they will be enforced
You'll save time and money and your family will not have to experience the personal stress
common with court proceedings.
3) avoid unnecessary court interference. You chose to have it pay out the assets to your
beneficiaries immediately or have it manage the assets for them and pay it out under
circumstances you establish.
4) IT ALSO CAN PROTECT YOUR PROPERTY SO OTHERS CAN'T GET AT AND USE IT -
OR ABUSE IT. This includes other family members (i.e., untrustworthy spouses, selfish
siblings, etc.) who may manipulate circumstances and relationships to get at the money for
purposes you don't support.
5) you remain in complete control of your property when you are alive and you can spend
it, not spend it or give it away as you want.
6) you can also change any of the provisions of your trust when you want. So, if
circumstances change, the trust documents can be changed as you direct.
7) you select the trustee and you can select someone close to you to do it. This can be
someone you respect and someone who intimately understands your nature and your goals,
not some institution with employees that change yearly.
There are many other benefits available when using trusts but I just outlined a few to that are
compelling to most folks. The other benefits will be discussed between us as our
conversation develops and you special needs fall into place.
Your FAMILY ESTATE PLAN can handle property in other states and other countries. Also you
reserve the right to change the plan at some later time, if you would want.
GUARDIAN & CONSERVATORSHIPS
We handle all issues relating to the creation, maintenance and termination of guardianships
and conservatorships.
needs that are more sophisticated and which require special approaches, documents and
provisions. This is particularly true in tax savings matters or where special family needs
exist.
Our FAMILY ESTATE PLAN commonly includes the following:
1) a Durable Power of Attorney. These take effect only when you are incapable of caring
for your affairs. This avoids court costs, stress, in fighting, and delays in the appointment of
a conservator.
2) a Health Care Declaration. These permit you to direct the type and manner of medical
assistance you want - or choose not - to receive if you should suffer from a terminal illness.
3) a Last Will and Testament. This allows you to choose and appoint the person who
will administer your estate affairs. Most importantly for young families, it also allows the
selection of a guardian and conservator for your minor or incompetent children. But for
everyone the Will is used in combination with a revocable trust. In that situation the trust will
hold all your assets and the will is used to address very unusual circumstances should they
unpredictably occur, like distributing to the trust awards resulting from a wrongful death
lawsuit. The will, when it is probated is public record.
4) a Revocable Trust. This allows you to collect, manage and distribute your assets to
those you select at the right time. It also allows you to remain in complete control of your
property during the time you are alive and to use your property in any way you see fit. The
Trust is not available to the public so what you do will not be disclosed to the public.
We write the documents in a way so they are coordinated and work together and they are
specifically tailored to your needs and your objectives.
Your objectives and intentions are first and foremost important. Keeping matters as simple
and straight forward possible is our other goal.
Keep in mind each person's situation is unique. So, when it comes time for considering the
details, you’ll find that we will spend all the time necessary to address every one of your
questions, concerns and objectives, no matter how picayune it may appear to be to others.
HOW WE CREATE A FAMILY ESTATE PLAN
Unless there is a need for quick action, we will raise and work with you over the course of a
couple of weeks so you have plenty of time to consider and comfortably make your
decisions. Your decisions are obviously not only important to you but they could have long
lasting impact on your family and other people important to you.
Once you decides who should receive what and how your assets should pass, the rest is
really quite easy. But we will set a upcoming dates for you so the process continues to go
forward.
The most common admission for many, many people who initially consult with us is that they
had procrastinated (sometimes for years) in taking their first steps in creating an estate
plan. But from that point on, procrastination should not continue because it commonly
results in some disadvantage to the loved ones they intend to benefit. So, our one of our
goals is to help you keep things moving forward.
When you consult with us, you will hear about legal and practical issues concerning your
property holdings and family relations. We discuss life insurance, stocks, bonds, savings
accounts, real estate, conservatorships, guardianships, and tax impact, etc., where
necessary and most importantly, we listen to you tell me what you want to accomplish. This
will not be an overwhelming task because we will help you through it.
Of course, you have heard many different stories about the manner in which property should
be held, the effects of probating property and the interests in that property of the federal and
state governments. Suffice it to say, that it has been my experience that much of the
concerns voiced by clients about their estate are easily answered and managed. You will
develop a clear understanding about the law and you will leave with a definite peace of
mind. No longer will you have to feel unsure, or be fearful of the manner in which your
property and family are to be cared for.
Below, I outline several areas of conflict which many people confront early in their thinking
about estate planning. This leads us to basic rule #1: You must help me by making full and
accurate disclosure of your assets and your intentions. This means that you must tell me
about everything you own and what you want to accomplish.
Easy enough, we have an outline that helps you with all of that.
I will then use this information to continue the process
TAX ISSUES
Because of the nature of the federal estate tax and state inheritance laws, failing to properly
structure your estate could result in additional tax. For some estates this could amount to
hundreds of thousands or millions of dollars. Still, for most people there aren't any
significant tax concerns. But if there are we'll talk the issues out with you and you'll be
comfortable with the choices and decisions you'll need to make.
It's my experience that most people want to preserve as much of their property for their family
and other loved ones. So, I regularly use an example and ask each client to tell me how
important it is to them to save tax so the money passes to a family member rather than the
government. If taxes are a concern, it doesn't matter how much money is really at risk. It
could be $20,000.00 or $4,000,000.00. The point is still the same.
Some people tell us it is important that we help minimize what the government takes. Many
tell me that because they consider their property to be the end result of their years of work
and effort, believing that it can be a leg up to their younger surviving family members.
Still, and possibly just for your information, I’ve had other clients who intentionally structure
their estates so more tax is due. People of that mind usually worked for the government their
entire lives. They were dedicated, thankful and loyal workers and citizens who want to say
thanks for the opportunities and benefits they enjoyed.
So, again, every person's estate problem is absolutely unique. Which means that no two
people and no two estate plans are exactly alike.
BUT WHAT ABOUT YOUR NEEDS?
We start with the point of view that everyone has to reserve enough assets for themselves to
adequately meet their financial needs. Transferring property away to other people without
first considering your future needs is dangerous to say the least. Yet we see it done by
people, including other professions quite often and we've observed that it happens when
people are misinformed or when they don't fully consider all reasonable possibilities. We
also see it when people, who really don’t understand the intricacies of the law, or who
overstate the reliability in their relationships with others, think they can out-wit or out-clever
others or the government. An example of this is when someone transfers their assets
during their life by changing names on titles and deeds. Aside from the possible gift tax
obligations involved, there are definite legal consequences and limitations if something
should change or go wrong and the property or money is later need. Actions of that kind
reveal at a later time that they were actually self destructive.
So, the question is how much is enough?
It may be surprising to you, but our experience compels us to suggest that you consider your
future expenses and multiply them by at least a factor of 2 or 3 to accommodate for the
realties of inflation and all the extra living expenses that accompany aging.
YOUR ULTIMATE FAMILY OBJECTIVES
You need to tell me who is important to you and how you want them to benefit. We’ll discuss
your thoughts and I’ll talk to you about what I’ve seen in the 25 years I’ve addressed issues
of this kind. You’ll be pleasantly surprised by the alternatives we can tailor if it is necessary.
Everything we do it intended to meet your needs and objectives. We consider these
documents as a means to convey positive constructive and long lasting influences to your
loved ones. Indeed your love and your influence can impact many generations of family to
follow you. How wonderful it is to know that you will remain part of their lives.
PROBATE
I believe everything needs to be kept in context. With that in mind, I want to take a moment
and discuss the obsession the public seems to have about avoiding probate.
Yes, avoiding probate is a legitimate goal and the FAMILY ESTATE PLAN does that.
Moreover there are times when probate needs to be avoided at all costs. Still, the problem is
that conventional "wisdom" seems hell bent on avoiding probate and unfortunately we see
far to many things that were done under that guise but which in fact undermine or destroy
important family objectives. Sometimes people go through all types of gyrations to avoid a
process that was actually instituted to protect them, their estate and their beneficiaries and
many things that are done actually add to the risk of estate asset loss, erosion, theft, abuse
and family conflict.
In the FAMILY ESTATE PLAN your assets are subject to a Revocable Trust, which actually
receives, holds and distributes your assets. That trust is not subject to probate and it
remains private - meaning its terms are confidential and will remain unknown to the general
public. The Last Will and Testament is included in your Family Estate Plan to supplement
the trust in very unusual circumstances and which you can’t predict.
I outline other advantages to the Revocable Trust below. But first, I want to outline some
basic rules and understandings in estate planning.
1) If you don’t have a Trust or a Will, the State laws will divide your property amongst
certain people that survive you. That law is referred to as the law of intestacy. The amount
eligible people receive is also determined by the statute. This also means that some family
members may not benefit at all and it means that friends and churches or other charities are
excluded.
2) The law of intestacy distributes only assets that are part of your “intestate estate”. This
commonly includes your personal property and cash, titled property that only includes your
name as owner, and proceeds from life insurance policies payable to your estate. It doesn’t
include any life insurance proceeds payable to others or jointly titled property.
3) Jointly titled property passes by operation of law to the other surviving owner(s). This
is deeply rooted in the history of the law. Examples of joint titled property commonly include
land, homes, vehicles, bank accounts and certificates of deposit. Your will or trust has
nothing to do with it.
4) Life insurance on your life passes by way of operation of law at the moment you die.
This is basic contract law. Your will or trust has nothing to do with it.
5) So, having a will does not mean that your property will go through probate because if
you have only jointly titled property and life insurance there is nothing that is subject to your
will. Property of that kind is said to “pass outside your estate” (but beware because its value
is considered for tax purposes) (see below).
6) Anyone who makes property joint with someone else to avoid Probate Court expense
runs serious risks. This should not be taken lightly. It is not uncommon to find a change or
breakdown in relationship that results in the other owner refusing to comply with basic
requests for help. Sometimes the other joint owner actually withdraws all the money too.
Even if the matter is litigated very definite rights appear to be created in the other “owner” as
soon as the joint title is created that may have to be resolved at significant expense in time,
anxiety and money to your estate and your intended loved ones.
7) Property should not be left outright to children under age 18. They are inexperienced
and they become targets for other people who want that property.
8) If your total assets, including home, car, bank accounts, life insurance, etc. exceed the
amount of your estate tax credit for federal estate tax purposes, we need to consider the tax
consequences.
9) If you are in a second marriage, you should have a will and at the very least should
consider a trust. Very special protective terms can be added to help you meet your objectives.
10) Your will does not have to leave even $1.00 to relatives if you want to omit them.
There is an exception to this rule as it applies to spouses. Nonetheless, as for any other
family member, you can strike benefit to anyone else completely or in part.
11) Confounding as it may seem assets that pass by way of operation of law (like joint
property) and by way of contract (like insurance proceeds on your life), still have to be
considered as part of your estate for federal estate tax purpose. In other words the value of
those assets are considered when determining how much, if any tax, is due the IRS from
your estate. So, here’s an example that shows the danger. If Bob dies with a Will that leaves
all his property to his wife, and at the time he dies he ahs $200,000 in cash, $4,000,000.00
in joint property with a brother and $3,000,000.00 in life insurance on his life payable to his
16 grandchildren, the amount of tax on the estate will exceed the cash in the estate. Who
much will his wife receive from his Will? What’s she going to live on? And where’s the other
money going to come from to pay the IRS the mountain of money that is due in federal estate
tax?
12) In the above example, good and timely legal advice and planning could reduce these
taxes to zero and provide appropriately for Bob’s surviving spouse.
13) A good estate plan requires that assets be appropriately registered into proper
names and be certain that primary beneficiaries and contingent beneficiaries are properly
named on insurance and employee benefit plans.
SOME FEATURES OF THE FAMILY ESTATE PLAN.
THE DURABLE POWER OF ATTORNEY
Everyone, young, old, single, married should carefully read this. All states now have an
effective estate planning tool: the durable power of attorney. General powers of attorney had
never been very useful as a planning tool. For example, if dad advanced in years, gave a
general power of attorney to his son so the son could manage dad's affairs and then had a
stroke and became incompetent, the general power of attorney was canceled and of no
effect when dad became incompetent. This is how the law looked on things. But the new
durable power of attorney laws say that you can give a power of attorney to a relative, a non-
relative or a trust company. If you recite that the power remains valid even if you later become
incompetent or that it become valid when you become incompetent, then the power remains
in force and effect. This is a simple tool and provides significant lifetime benefits.
Every husband and wife should give each other a durable power with a alternate named *to
act if both spouses are incapacitated. Everyone, especially senior citizens, should sign such
a durable power of attorney.
THE PATIENT ADVOCATE
The law has also addressed the issue as to who should make decisions concerning
continued medical treatment for an individual who experiences a life terminating illness or
injury. If you would like to appoint another to exercise, on your behalf, the choice of
terminating medical treatment in circumstances such as these, then you must have
executed a Patient Advocate Agreement, sometimes called a Health Care Declaration, which
when coupled with a durable power of attorney grants the individual the legal authority to do
so.
THE REVOCABLE TRUST
A simple REVOCABLE TRUST, which is the centerpiece of our FAMILY ESTATE PLAN can be
used to:
1) maintain the highest level of privacy and confidentiality the law gives and you don't
have to rely on the promises of others that they will "keep things private". Imagine that! Your
Family Estate Plan is private and your affairs, the nature of your property, its value, the names
of your beneficiaries and the amounts they receive do not become public record. You don't
have to worry about them being bombarded with phony claims, overwhelmed by pushy
salesmen, or other greedy family members.
2) avoid to court to have someone appointed as guardian or conservator if you should
fail. You can make all these choices NOW and you can be sure that they will be enforced
You'll save time and money and your family will not have to experience the personal stress
common with court proceedings.
3) avoid unnecessary court interference. You chose to have it pay out the assets to your
beneficiaries immediately or have it manage the assets for them and pay it out under
circumstances you establish.
4) IT ALSO CAN PROTECT YOUR PROPERTY SO OTHERS CAN'T GET AT AND USE IT -
OR ABUSE IT. This includes other family members (i.e., untrustworthy spouses, selfish
siblings, etc.) who may manipulate circumstances and relationships to get at the money for
purposes you don't support.
5) you remain in complete control of your property when you are alive and you can spend
it, not spend it or give it away as you want.
6) you can also change any of the provisions of your trust when you want. So, if
circumstances change, the trust documents can be changed as you direct.
7) you select the trustee and you can select someone close to you to do it. This can be
someone you respect and someone who intimately understands your nature and your goals,
not some institution with employees that change yearly.
There are many other benefits available when using trusts but I just outlined a few to that are
compelling to most folks. The other benefits will be discussed between us as our
conversation develops and you special needs fall into place.
Your FAMILY ESTATE PLAN can handle property in other states and other countries. Also you
reserve the right to change the plan at some later time, if you would want.
GUARDIAN & CONSERVATORSHIPS
We handle all issues relating to the creation, maintenance and termination of guardianships
and conservatorships.
| ESTATE PLANNING A FANTASTICALLY POSITIVE CONTRIBUTION TO YOUR PEACE OF MIND & YOUR FAMILY. |
Copyright 2009; Richard Craig Krause.
All rights reserved. Copying and/or use of
the whole or any part of this material
without prior written consent is
prohibited. Taxpayer’s Voice is a federal
registered trademark. Copying and/or use
of the mark without prior written consent
is prohibited. Violators will be
prosecuted. "Tax Crisis," IRS "Black
Hole", IRS "Black Magic," "Taxpayer's
Voice Speaks," "Snowballing," "Cycle of
Destruction," the theme music, with and
without our Taxpayer's Voice lyrics, and
the armored man are also trademarks of
Richard Craig Krause. Copying and/or
use of same without prior written consent
is prohibited. Violators will be
prosecuted.
All rights reserved. Copying and/or use of
the whole or any part of this material
without prior written consent is
prohibited. Taxpayer’s Voice is a federal
registered trademark. Copying and/or use
of the mark without prior written consent
is prohibited. Violators will be
prosecuted. "Tax Crisis," IRS "Black
Hole", IRS "Black Magic," "Taxpayer's
Voice Speaks," "Snowballing," "Cycle of
Destruction," the theme music, with and
without our Taxpayer's Voice lyrics, and
the armored man are also trademarks of
Richard Craig Krause. Copying and/or
use of same without prior written consent
is prohibited. Violators will be
prosecuted.
Disclaimer.
Issues of the kind generally identified in
this website require expert legal help
which would be devoted to the specific
facts, circumstances and law that
understand that the information reflected
in this website does not apply to any
specific matter or person or legal entity,
any applicable burden of proof, which
party has the burden of going forward
with proofs or the administrative or
jurisdictional issue or concern. The
information provided in this website is
superficial and does not attempt to
address any or all possible factual or
legal issues, and further that it does not
identify all the law, conditions or other
requirements that must be met or may
apply to any matter or challenge, in
whole or in part. We are not responsible
for how you may use the information
reflected in this website.
Issues of the kind generally identified in
this website require expert legal help
which would be devoted to the specific
facts, circumstances and law that
understand that the information reflected
in this website does not apply to any
specific matter or person or legal entity,
any applicable burden of proof, which
party has the burden of going forward
with proofs or the administrative or
jurisdictional issue or concern. The
information provided in this website is
superficial and does not attempt to
address any or all possible factual or
legal issues, and further that it does not
identify all the law, conditions or other
requirements that must be met or may
apply to any matter or challenge, in
whole or in part. We are not responsible
for how you may use the information
reflected in this website.
Richard Craig Krause & Associates, P.C
| The Taxpayer's Voice |
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| Tax Controversy Resolution; SBA Settlements& Bank Work-Outs Stock/Commodities, Estate & Trust Losses & other Financial / Investment Litigation; Integrity, Compassion & Success for 30 years |