This package includes:

Living Trust:

A “living” trust (also called an “inter vivos” trust) is simply a trust you create while you’re alive. The beneficiaries you name in your living trust receive the trust property when you die. You could instead use a will, but wills must go through probate—the court process that oversees the transfer of your property to your beneficiaries.

Many people create a revocable living trust as part of their estate plan. These trusts can be modified or revoked at any time. Typically, you’ll name yourself as the “trustee” of your trust.

This means that while you are alive, you retain control of the trust and its property. In your trust document, you will also name a “successor trustee” to take over and manage the trust (distribute your property) after you die. (If you create a shared living trust, as is often done by spouses, then your successor trustee would assume control after both spouses have died.)

EIN:

Employer Identification Number, also known as the Federal Employer Identification Number or the Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service to business entities operating in the United States for the purposes of identification.

Your Will:

A will or testament is a legal document that expresses a person’s wishes as to how their property is to be distributed after their death and as to which person is to manage the property until its final distribution.

Health Directive:

A health care directive is a written document that informs other of your wishes about your health care. It allows you to name a person (“agent”) to decide for you if you are unable to decide. It also allows you to name an agent if you want someone else to decide for you. You must be at least 18 years old to make a health care directive.

Financial Power of Attorney:

A Durable Financial Power of Attorney is a document that lets you appoint someone (known as your “agent”) to manage your finances for you if you ever become unable to do so for yourself. The name is made up of three parts: First, the authority you grant to your agent is called the “power of attorney.” Second, a “financial” power of attorney is one that grants authority over financial matters; it is different from a “healthcare” power of attorney, for example, which grants authority to make medical decisions. Finally, a “durable” power of attorney is one that remains in effect even after its creator becomes physically or mentally incapacitated.

Powers given with a Financial Power Of Attorney:

• Provide for your family’s ongoing expenses
• Take care of your healthcare and insurance bills
• Handle your taxes and file them on your behalf
• Keep your business or businesses running
• Manage real estate property you may own
• Oversee your insurance and retirement account