Worried what happens if you die? What about if you become incapacitated? Will your family get what you want? Will your spouse and children be taken care of the way you want? This App will let you prepare a Living Trust, a Will, Power of Attorney, Health Care Directives and other items you want to have before you can no longer do it.
This App will allow you to pay a very nominal price to get a full template of all these matters. You basically just need to put your name in the template and personalize as you want.
Don't wait until your incapacitated. Think of your children. Think of your Spouse. Get peace of mind.
“Estate planning” is the process of putting an individual’s personal and financial affairs in order. The goals are to maximize the individual’s enjoyment of his or her estate during his or her lifetime and the beneficiaries’ enjoyment of the estate after the individual’s death. Estate planning involves:
Managing the individual’s real and personal property during his or her lifetime and providing for the disposition of the property before and after his or her death;
“Estate administration” or “trust administration” is the process of carrying out the individual’s estate plan and administering his or her estate following his or her incapacity or death. It is the process of winding up the decedent’s affairs and distributing his or her assets in accordance with his or her estate plan.
What is a Trust?
A revocable trust is a popular estate planning tool that can serve useful property management functions during a client’s lifetime, but is primarily used as a convenient and efficient means to distribute a client’s assets on his or her death. Of course, there are advantages and disadvantages to using a revocable trust instead of a will or other will substitute.
The use of revocable trusts can be used as alternatives to other devices for transferring property. There are many issues to consider such as choice of trustee, funding issues, third party rights, taxation of trusts, management of trust assets, construction of trust instruments and terms and termination of trusts.
A trust is revocable by the settlor or settlors unless expressly made irrevocable by the trust instrument. Irrevocable trusts involve a permanent relinquishment of control or enjoyment by the settlor that inevitably has gift and other tax consequences. A revocable trust usually does not have such substantive tax effects because it may be revoked by the settlor at any time. Nevertheless, it does have other substantive effects that impact legal and beneficial rights.
What is the Will?
For hundreds of years, wills have been the basic device used to direct disposition of an estate after a person’s death, and despite a trend in many states to use revocable trusts as will substitutes, wills remain a fundamental tool for the estate planner. Because wills are in most cases simpler and shorter documents than revocable trusts, they are generally less time consuming to prepare and therefore are less costly for the client. A will is ordinarily a better choice than a trust when the estate is small enough to avoid probate administration by means of the various small estate procedures.
Why get the health care directive?
There are three main options for the drafting of documents in planning for health care decisions:
A statutory advance health care directive form; Preprinted forms, and a form designed for persons with developmental disabilities from the Coalition for Compassionate Care. You have the right to give instructions about your own health care.
You also have the right to name someone else to make health care decisions for you.
The Advance Health Care Directive form lets you do one or both of these things. It also lets you write down
your wishes about donation of organs and the selection of your primary physician. I
Easier downloads, more options.