Do I need a Will or Trust? Probably, yes! 

The answer is most likely, yes! If you are…Moving assets into a trust, Naming guardians for minors, Making decisions about healthcare needs, OR deciding who will handle your finances in your absence… you should definitely think about getting an Will or Trust, as part of an Estate Plan. Contact us today, to learn more.

What’s an estate plan, and why do I need one?

An estate plan is more than just a will. A good estate plan lays out who you want making financial and health care decisions if you can’t make them for yourself.

Every Atlas Financial Estate Plan is state-specific for 49 states (no North Carolina plans) and can include the following:

1.  Trust
2. Certification of trust
3. General transfer
4. Property agreement for community property states
5. Financial Power of Attorney
6. Medical Power of Attorney or Advance Health Care Directive
7. HIPAA release
8. Will
9. Deed(s) for real property (at an additional charge)

You should get an estate plan if you are:

• Moving assets into a trust
• Naming guardians for minors
• Making decisions about making healthcare needs
• Deciding who will handle their financial lives in their absence

What are the top 5 key estate planning documents, and what do they do?

1. Will

This document allows you to clearly state your desires for distribution of your property and care for minor children. When you create a will, you’ll name beneficiaries, an executor, and guardian(s) for your children.

2. Trust

A trust is an arrangement that provides control over your property, both while you’re living and after you die. There are many different types of trusts, but the most commonly used trust in basic estate planning is the Revocable Living Trust. The trust names a trustee, who will be responsible for following your wishes about the property in the trust. It also outlines who will receive the property and when. You can decide to move your property into the trust either while you’re alive, or when you die using the will.

3. Financial power of attorney

This document, which is only effective while you’re alive, is a way to grant someone permission to make financial decisions and manage your legal and financial matters for you if you’re unable to do so yourself. This should be someone you fully trust to manage your money.

4. Health care power of attorney

With this designation, you choose someone who will make health care decisions for you if you’re unable to do so. This person may be called upon to make difficult decisions about medical treatment, so it’s vital that they have a clear understanding of your values and wishes.

5. Living will

Also called an Advance Directive, a living will is a guide for your doctors and caregivers to your exact wishes for your end-of-life medical care.

Coordinating an Estate Plan is a critical step in ensuring that your wishes, desires, and plans are carried out after you pass away. Atlas Financial Advisors provides legal support, before and after you prepare the Estate Plan.

Every plan is reviewed by an Estate Planning specialist or an attorney so you are confident that the plan you deliver is accurate and adheres to state guidelines!