Estate Planning ... What to Expect ... Finalizing your Estate Plan
Continuing to look at the process involved with creating your comprehensive estate plan, using Confluence Law Center's approach as a model, in the past five articles we've reviewed the Complimentary Consultation, the Design, the construction phases and the Signing Ceremony. What happens next?
With either a will or a trust your comprehensive estate plan includes your Advance Directive which requires the signed acceptance by the persons you appoint to assist you in the role of Healthcare Representative should they be called upon to do so. Your attorney circulates this document to gather those signatures.
With a trust there is also one final phase and that is the "funding" phase. For your trust to perform the task of avoiding probate it is essential that you associate your assets with your trust. This is what is meant by "funding" your trust. In this phase your attorney works with you to ensure that your trust is fully funded. Assets not funded to your trust could be subject to probate at the time your estate is administered.
Once these steps are completed you return to collect your comprehensive estate plan portfolio. And what next? To be covered in the next article. Thank you for your interest and attention to this topic. May it benefit you and those you hold dear.
Your Life. Your Legacy. Your Way. Confluence Law Center, serving Clackamas, Hood River and Multnomah Counties.
Confluence Law Center
24461 E. Welches Road, Suite 4
Welches, OR 97067