THE LAW OFFICE OF EDWARD B. BATISTA

 
(For information on how and why I offer such competitive estate plan rates please see my "Welcome" page under "Low Cost Estate Plans").                 

My basic estate plan for middle-income people or families consists of:

    1.    A revocable trust.  This instrument avoids probate for all assets transferred to the trust and can make arrangements for distributions to persons over a long period of time and/or upon certain conditions.  Most parents of young children have their children's inheritance held in trust until a specified age.  

    2.    A pour-over will.  This instrument is a special kind of will designed to work with a trust.  If an asset for whatever reason was not placed in trust during your lifetime the pour-over will specifies that the particular asset is to be distributed per the terms of the trust.  It's best to not rely on this method because any kind of will must usually be probated, which is what you trying to avoid in the first place.  A pour-over will merely a backup to ensure that even if an item was mistakenly not placed in trust it will still be distributed per the trust terms.    

    3.    A trust certificate.  This is essentially a condensed version of the trust specifying only the trustee powers.  These are used in place of the trust (for various reasons) when transacting business with an institution such as a bank.  They are not used often but I prepare them as part of the estate plan anyway. 

    4.    Assignment of Assets.  This document takes all your household items and places them in trust so that your successor trustee has authority over them for proper distribution.  

    5.    In addition to the basic trust estate plan documents described above (which are all included in the price), people often want/need a Power of Attorney for both finances and healthcare.  I charge an additional $150 for these four documents (husband/wife x DPA, AHCD).    
           The Durable Power of Attorney for finances enables the person you choose as your "attorney in fact" (agent) to transact business for you if you cannot.  Durable Powers of Attorney are only effective up to the moment of death; upon death your agent no longer has any power under that instrument.  Additionally, you can make your Power of Attorney effective only upon incapacity (or other condition), or, your Power of Attorney can give your agent authority right away (usually when ongoing assistance is needed and the level of trust in the agent is very high, such as with a child).  
            The Advance Health Care Directive is a power of attorney for healthcare.  In this document you will give your doctor instructions for end of life care, and you will also name an agent to carry out those wishes.  Usually this documents specifies on what terms you want medical care withdrawn and whether you want medication for pain relief should it become necessary.   

       6.    Lastly, if you own real estate, for each parcel a deed will need to be drafted to transfer that real property to the trust.  You essentially are transferring the real estate from yourself as an individual to yourself as trustee of your trust.  I record these deeds with the county recorder and charge a very reasonable filing/drafting fee.