When someone dies, they can no longer own property, so their assets must be retitled. Probate is needed to transfer these assets. A trust-based estate plan can avoid probate by:

• Transferring all assets to a trust before death.
• Allowing the trustee to manage and distribute assets without a probate court order.

A comprehensive estate plan uses several tools to manage your assets, healthcare, final wishes, and guardianship effectively. Here’s how they work together:

• Financial Power of Attorney (POA): Appoints someone to manage your finances (e.g., paying bills, handling investments) if you become unable to do so. This ensures your financial matters are handled without court intervention.
• Patient Advocate Designation: Names a trusted person to make medical decisions for you if you’re incapacitated. This ensures your healthcare preferences are followed.
• Trust: Holds and manages your assets during your lifetime and after death. A revocable living trust avoids probate, allowing the trustee to distribute assets directly to beneficiaries.
• Pour-Over Will: Acts as a backup to transfer any assets not in the trust at the time of death into the trust, ensuring they are managed per your trust’s instructions (though probate may be needed for these assets). It also allows you to name guardians for minor children, ensuring their care if you pass away.
• Funeral Representative Designation: Appoints someone to make decisions about your funeral and burial or cremation. This ensures your final wishes are carried out.

How They Work Together: The financial POA and patient advocate designation protect you during your lifetime by managing finances and healthcare. The trust and pour-over will handle asset distribution and guardianship for minor children after death, avoiding or minimizing probate. The funeral representative designation ensures your final wishes are respected. Together, these tools can provide a seamless plan for incapacity, death, and beyond.