Trust

Trust

If all you have is a will, your estate will have to be probated before it passes to your loved ones. A costly, time-consuming and frustrating process that is open to the public, the beneficiaries of your estate have no access to your assets until the probate court has settled and distributed your estate. Wouldn’t you want your spouse, children and loved ones to have immediate access to your assets in the event you pass away? Probate courts often freeze assets for months while determining the proper disposition of the estate. It’s a process generally outside of your heirs’ control. Even surviving spouses are often forced to apply to the probate court to use assets in order to pay for living expenses. Without a proper estate plan, the assets that you worked so hard to earn will be locked up in the courts, rather than made available to your loved ones. An effective estate plan will ensure that your estate will pass to your loved ones outside of probate, in the most timely, cost-efficient and private manner available.

Recent Answers

Estate Planning Attorney

It is never too early to proactively talk about estate planning. I have family meetings with my clients and their children while my clients are in their 50s, so they are young and healthy still. It is always hard to talk about these things when we are in a crisis mode and stress levels as high. If... (more)

It is never too early to proactively talk about estate planning. I have family meetings with my clients and their children while my clients are in their 50s, so they are young and healthy still. It is always hard to talk about these things when we are in a crisis mode and stress levels as high. If you have done some estate planning of your own, that is a great place to start to bring up the subject. 

Here are some topics to consider:

  • Do they have a power of attorney
  • Do they have an advance health care directive
  • What are their wishes regarding end of life decisions 
  • To they have a trust or will
  • Are they willing to share a 'location list' of where they have accounts and/or important documents. 

This is a good start!

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.

Private Fiduciary, Trustee,Conservator, Financial Advisor

The right time is NOW!  Why are you waiting?

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.

Estate Planning Attorney

I am so sorry to hear about your grandmother, but from  a legal standpoint, you would want to find out if your grandma has a Advance Health Care Directive (AHCD), which is a legal document that names an agent to make medical decisions on her behalf. You would want to discuss her wishes regarding... (more)

I am so sorry to hear about your grandmother, but from  a legal standpoint, you would want to find out if your grandma has a Advance Health Care Directive (AHCD), which is a legal document that names an agent to make medical decisions on her behalf. You would want to discuss her wishes regarding life support and CPR. The documents that would memorialize her wishes regarding end of life decisions would be a DNR (now called POLST) and a Living Will. 

On the financial side, I'd consider whether she has a durable power of attorney nominating someone to manage her finances. However, because a durable Power of Attorney is null and void once someone passes away, she would also need to consider having a Will or a Trust. Depending on state laws a Will may not be sufficient to avoid a court process when she passes so you might want to consider speaking to an attorney near you about that. 

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.

Private Fiduciary, Trustee,Conservator, Financial Advisor

Help to give away her possessions while she is living so there is less fighting over them after she passes.  Also, make sure her Will, Trust, and health care orders for Do Not Resuscitate are in order under your state's laws and you know where these documents are.

We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and... (more)We at Care Giving Answers strive to provide helpful and relevant information to senior citizens and their families and loved ones. The material provided through our site is made available for informational purposes only. In no way should users of our site rely or act upon any information provided herein without seeking appropriate professional advice (medical, legal or financial). Users should independently verify the accuracy, completeness and relevance for their specific purposes. The information provided through our site is not intended to constitute professional advice and in no way forms or constitutes a professional-client relationship of any kind.