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1. Trust Agreement.

The Trust Agreement creates what is typically referred to as a “Living Trust.” The Trust Agreement is entirely revocable and amendable by you during your lifetime. The Trust Agreement becomes irrevocable and not subject to amendment upon your death.

Any property that you transfer to the Trust during your lifetime will avoid probate upon your death. Property that you do not transfer to the Trust will be subject to probate, but will pass to the Trust through the probate process. I hope that you will transfer all your significant property to the Trust so that it will not be necessary to probate your Will.

You will be the initial trustee of the Trust. Upon your incapacity or death, the person you name to act as successor trustee will serve as the trustee. You reserve the right to remove and appoint trustees during your lifetime and to designate who will serve as trustees in the future.

2. Will.

Your Will is commonly referred to as a “pour over will.” The Will governs the property held in your name (outside of the trust) at your death. The Will provides for the administration of that property, and directs that the property remaining after the payment of your debts, expenses of administration, and estate taxes imposed on such property be added to your Revocable Trust.

The executor will administer the will through probate (if probate is necessary). It is a good idea to have at least 2 back-up executors.

3. Durable Power of Attorney for Asset Management.

A Durable Power of Attorney for Assets gives your agent (with two back-ups) the power to deal with matters affecting your property. Your agent is given the power to transfer property to your Revocable Trust. Your agent is also given the power to act on your behalf, as if you were present and acting, with respect to your property, all as set forth in the Durable Power of Attorney. Being a “durable” power means that the agent is authorized to continue to act during any periods of time when you are incapacitated.

4. Advance Health Care Directive.

An Advance Health Care Directive authorizes your agent (with two back-ups) to act for you if you become unable to make medical decisions for yourself. Also, this document appoints a Conservator and gives directions for health care.

5. Certification of Trust.

This document authorizes a trustee to act on behalf of the trust and is often provided to banks and other individuals as a more concise grant of authority than the entire trust.