A properly drafted Estate Plan is an essential part of your financial plan.  Here is what’s included;

1. A Revocable Living Trust:  Keeps assets/accounts out your state’s probate process.  Appoints a successor trustee to ensure your estate is handled precisely according to your wishes after your death.
   1. Article 1: Who you and your family are.
   2. Article 2: What assets will be subject to the trust.
   3. Article 3: Who will be the trustee if you cannot.
   4. Article 4: Who and how the trust can be amended.
   5. Article 5: How the trust is administered during your lifetime.
   6. Article 6: How the trust is administered after your death (this includes beneficiaries).
   7. Article 7: The powers the trustee has to carry out your trust.
   8. Article 8: Administrative provisions.
   9. Article 9: Particular definitions.
   10. Article 10: Tax provisions.

       2. Certification of Trust: This is the short version of your trust that some financial institutions will accept in lieu of the entire trust.

       3. General Transfer: This is the “oops” document that puts assets into the trust if you did not do so during your lifetime.

       4. Property Agreement: This makes any jointly owned property community property, which gets the best tax treatment at death (stepped up tax

      basis for all assets).

      5. Power of Attorney: This allows someone to make financial decisions for you when you cannot.

      6. Advance Health Care Directive: Names the people to make health care decisions for you if you cannot.

      7. HIPAA Release: This allows medical professionals to give information about your health care to people on your advance health care directive

     (among others) without violating privacy rights.

      8. Wills: This covers non-trust assets.  It gives any non-trust assets to your trust – effectively pouring them into the trust.  These are called “pour over”

      wills for that reason.  It also states who will be guardians of any minor children. 

      9. Quitclaim Deed(s):  Transfers your real estate interests to your trust.