Comprehensive Estate Plans
Estate plans are tailored to individual goals, circumstances, family needs, and desired flexibility:
- Trust-Based Plan: Offers control, privacy, and can be used to avoid probate. Gifts can be given right away or held in trust with conditions, like reaching certain ages. A staggered distribution plan helps protect beneficiaries from poor financial decisions, allowing them to learn and grow. Parents can use a pour-over will to nominate guardians for minor children and transfer any remaining assets into the trust.
- Will-Based Plan: A simpler plan that specifies asset distribution, nominates guardians for minor children, but requires probate.
- Plan Without a Trust or Will: Some plans avoid probate without using a will or trust. Instead, they use beneficiary designations and a Lady Bird deed to transfer assets directly to beneficiaries upon death, while allowing you to keep control during your lifetime.
- Powers of Attorney: Essential to avoiding guardianship or conservatorship probate if incapacitated, ensuring important matters are handled promptly.
Explore Common Estate Planning Tools
Learn about wills, trusts, powers of attorney, and more to secure your legacy and protect your loved ones with confidence.