Basic Estate Plan with a Basic Living Trust
This package will contain the most common elements required in a basic estate plan utilizing a living revocable trust. You will receive a Basic Living Trust, a Power of Attorney with Durable Provision and a Living Will with Health Care Power of Attorney. Please note that you may require additional services to convey assets with title documents into the trust. These conveyances are relatively simple but are critical to insuring that the trust serves its function. If you require assistance with the conveyance documents, please contact HLGGC. This package includes:
- Basic Living Trust. – This interactive legal document enables you to generate a Basic Living Trust. Much like a will, a living trusts lets you leave your property to the people you want to inherit it. Also like a will, you can revoke or change your living trust at any time, for any reason, before you die. The big difference is that assets left in trust don't have to go through probate court proceedings at your death. This is because when you create a living trust, you must transfer ownership of the designated property to yourself as "trustee" of the trust. During your lifetime, you still have control over all the property transferred to your living trust and can do what you want with itsell it, spend it, or give it away. Then, after your death, the person you named to take over as trustee distributes the property to the family and friends you named.
- Power of Attorney with Durable Provision. – A "power of attorney" is a legal document where one party (the Principal) authorizes another party (the Agent or the Attorney-in-fact) to act on his or her behalf during an absence. This authority can specifically include or exclude several areas of interest, including matters of physical property, real esate, banking, insurance, tax matters, etc.
- Living Will and Health Care Power of Attorney - Colorado.– Living Will and Health Care Power of Attorney -- a document which allows a person (the declarant), while healthy, to provide instructions regarding what healthcare he or she wishes to receive in situations of a coma or other critical medical condition where the person cannot communicate or be of sound mind. This document will also identify the person who will carry out these instructions (the attorney-in-fact). In some states, this document is referred to as an Advance Directive.
Contact us today if you're not sure what package is right for you, if you have any special requirements or if you just need to ask a question.
