Creating a Proper Estate Plan.

A proper Estate Plan includes a minimum of six documents: 1. A living Trust. 2. A Pour-Over Will. 3. Durable Power of Attorney for Assets/Finances. 4. Advanced Health Care Directive/Durable Power of Attorney for Healthcare. 5. HIPAA authorization. 6. Funding/Transferring assets into your trust: Make sure to review your trust and update your Durable Powers every 5 years at a minimum. Make sure that if you refinance your home, once the process is done, your home remains in or is put back into your trust.


Fund your trust

For real property: a Grant Deed; For timeshares: an Assignment, a Grant Deed or a Contract; For Businesses: an Assignment or amendment/revision of corporate books and records; For a promissory note: an Assignment; For Non-Qualified Accounts: retitling the accounts with the Financial Institutions; For Qualified Accounts and Life Insurance: changing the beneficiary. For every asset, the title needs to be changed to the name of your trust, if that is not possible, change the beneficiary.