A Living Trust is the legal document that outlines the way in which your assets will pass on to

your loved ones when you die. When you prepare your Living Trust, you will identify your beneficiaries

as well as the person who will carry out your wishes, your successor trustee. Once you have created

your Trust, you then must fund it, or transfer your assets into it, including deeds to real property,

savings accounts, life insurance, brokerage accounts, etc. A Trust is a living document, and it should be updated with important life events—a new spouse, a significant new investment, property or job,

or if you want to change or add beneficiaries. 

There are many benefits to getting a Living Trust:Quick and easy transfer of property to your

loved ones when you die.Uninterrupted management of the estate should you and your spouse become incapacitated.Avoiding the long, arduous and expensive process of probate.To also

keep in mind: Trusts are private documents. If you die without a Living Trust, your estate goes

into Probate and becomes a matter of public record. A Revocable Living Trust can be revoked

or amended at any time during your lifetime.

​

​

An Advanced Healthcare Directive lets your physician, family and friends know your

healthcare preferences, including the types of special treatment you want or don’t want

at the end of life–your preference for things like diagnostic testing, pain management

and surgical procedures. You should be thinking about whether or not you will want to sign

a Do Not Resuscitate Order (DNR), how you feel about hospice and organ donation.

You will want to think about whether you want to spend your final days in nursing care or in

your own home. You should be prepared to select the person who will be in charge of your

healthcare choices and discuss the matter with that person ahead of time—this person

could be a spouse, son, daughter or other agent.

​

 

Having a power of attorney in place when an elderly parent or incapacitated loved one can no longer make either medical or financial decisions themselves is a great way to protect their rights and safety while enabling you to make crucial decisions for them

Financial Power Of Attorney

When an individual prepares and signs a financial power of attorney, they are appointing someone they trust to handle certain legal transactions on their behalf, including all financial transactions such as managing investments, paying bills, buying or selling property and making financial decisions. When preparing your financial power of attorney, you can also limit the types of transactions that it pertains to. For example, you can limit it solely to real estate or banking or insurance. In other words, you don’t have to cover all financial transactions, only those you wish to be included.

Financial POAs come in two forms:

Durable Power Of Attorney goes into effect immediately upon being signed and witnessed by all parties. It will last until the grantor formally revokes it or passes away.
Springing Power Of Attorney can be signed now, but doesn’t go into effect until the grantor becomes incapacitated or is no longer able to make decisions for his or her self.