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A Summary Of Our Estate Planning Portfolio

Revocable Living Trust:

A revocable living trust is a legal document that partially substitutes for a will.  With a living trust, your assets (e.g. your home, bank accounts and stocks) are put into the Trust, administered for your benefit during your lifetime, and then transferred to your beneficiaries when you die.  Most people name themselves as the Trustee in charge of managing their trust's assets.  Thus, even though your assets have been put into the Trust, you remain in control of your assets during your lifetime.  You can also name a successor trustee who will manage the Trust's assets according to your wishes if you ever become unable to manage them yourself.  The assets held in your Trust are managed and distributed according to your directions without court supervision and involvement.  This can save your heirs the time and money associated with probate proceedings.  Further, since a revocable living trust is not under the direct management of the probate court, your assets and their value would not become a public record.  Lastly, you can amend or revoke a living trust at any time during your lifetime, as long as you are competent.


Declaration Of Trust:

Under certain circumstances, this Declaration could be helpful after your death if you neglected to transfer a valuable asset to your Trust; it merely confirms that you intended to include all of your assets within your Trust.  This Declaration is not a substitute for the requirement that you must transfer ("title") your assets into the name of your Trust in order to avoid a potential probate of those non-Trust assets.


Certification Of Trust:

The Certification sets forth the existence of your Trust and your unlimited right as Trustee to deal with any account or asset held in the Trust.  The Certification acts as a short version of the Trust Agreement and gives any third party all the information required from the Trust without getting into the dispositive provisions, which are (and should remain) confidential.


Assignment Of Personal Property:

This Assignment acts as the method of transferring all of your tangible personal property assets (generally such assets do not have a title or an ownership document) to your Trust (thereby avoiding the necessity or possibility of having to probate these assets); this Assignment also transfers your digital assets and/or rights (including any "social media", on-line accounts and/or email accounts) to the Trust.


Instructions For The Distribution Of Our Personal Property:

This optional form can be completed at any time. This is where you can designate specific items of your tangible personal property (i.e., "things") to go to certain people at your death.  You can add to or change this form as often as you wish without having to amend your trust or execute a codicil to your Will; if you do add or delete a distribution, you should date and initial the addition or deletion (or complete a new form and destroy the old one).


Wills:

Your Will is commonly referred to as a "pour-over" will. Under the terms of the Will, any assets held by you which have not previously been transferred into your Trust will be added to the Trust at the time of your death (but may be subject to a probate administration in order to do so). The purpose of this is to make sure all of your assets (whether in the Trust or not) are distributed according to the dispositive plan set forth in the Trust. The Will also designates the Guardian of any minor child).


Durable Power Of Attorney:

This is your "general power of attorney" which is primarily intended to give your named agent the power to deal with any non-trust assets in the event of your incapacity. Please be aware that this document does give your agent broad powers to dispose of, sell, convey and encumber your real and personal property.


Advance Health Care Directive:

The Advance Health Care Directive gives your named Agents the power to make medical decisions, sign consents and/or releases with hospitals and/or doctors. It also acts as your "living will" for end-of-life decisions.


HIPAA Authorization And Waivers:

The HIPAA Authorization and Waiver is a "stand-alone" document to authorize your health care providers to release information concerning your otherwise confidential medical information to each other and to the individuals you have designated to act on your behalf in the event of disability and to any other individuals who you would also want to have such access.


Final Disposition Instructions:

These Instructions give you the opportunity to specify how you wish to have your remains be dealt with (i.e., cremation or burial); to provide details of any prior arrangements and to designate the persons to carry-out your wishes.

​​​​​Disclaimer
No information on this website shall be construed as legal counsel or advice.  Despite our attempts to keep information on our website current, the contents may not reflect the most recent legal changes.  You should consult an attorney for advice regarding your individual situation.    We invite you to contact us and welcome your calls, letters and  electronic mail.  However, contacting us does not create an attorney-client relationship.  Unless otherwise agreed in advance, all unsolicited inquiries or information received by the Law Offices of Ramsey & Ramsey will not be regarded as confidential.  You should consult with an attorney licensed to practice law in your State before acting on any information on this site.

LAW OFFICES OF
RAMSEY & RAMSE​Y 

Benefits Of A Revocable Living Trust

There are numerous benefits to creating a revocable living trust as opposed to a last will and testament.  A revocable living trust is not subject to probate proceedings.  Once property is transferred into a revocable living trust it does not go through probate.  Most people name themselves as the trustee in charge of managing their trust assets. This way, after executing your revocable living trust and placing your assets into the trust, you continue to enjoy all the present benefits of your assets without any changes in your ability to control them. A revocable living trust ensures that your assets will be managed according to your wishes if you become incapacitated, and distributed to your named beneficiaries according to your wishes upon your death.


For your revocable living trust to be effective, it must be properly funded.  That includes re-titling your real property and certain savings and investment accounts.  Unless you properly fund your trust, your estate may still have to go through probate. That is why our Estate Planning Portfolio includes the preparation, notarization, and recording of the necessary documents to ensure your revocable living trust is properly funded. 

Estate Planning

​​​​​Disclaimer
No information on this website shall be construed as legal counsel or advice.  Despite our attempts to keep information on our website current, the contents may not reflect the most recent legal changes.  You should consult an attorney for advice regarding your individual situation.    We invite you to contact us and welcome your calls, letters and  electronic mail.  However, contacting us does not create an attorney-client relationship.  Unless otherwise agreed in advance, all unsolicited inquiries or information received by the Law Offices of Ramsey & Ramsey will not be regarded as confidential.  You should consult with an attorney licensed to practice law in your State before acting on any informatrion on this site.

​​​​Disclaimer
No information on this website shall be construed as legal counsel or advice.  Despite our attempts to keep information on our website current, the contents may not reflect the most recent legal changes.  You should consult an attorney for advice regarding your individual situation.    We invite you to contact us and welcome your calls, letters and  electronic mail.  However, contacting us does not create an attorney-client relationship.  Unless otherwise agreed in advance, all unsolicited inquiries or information received by the Law Offices of Ramsey & Ramsey will not be regarded as confidential.  You should consult with an attorney licensed to practice law in your State before acting on any informatrion on this site.

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The Law Offices of Ramsey & Ramsey