Estate Planning for Married Couples
All packages include a complimentary initial consultation.
Package I – Two Wills
Advantages: This package is fast, easy, and inexpensive. A Will distributes property according to your wishes, appoints a representative to handle your estate after you pass away and can reduce the likelihood of family disputes. A Will can also establish a trust and guardianship for your minor children.
Disadvantages: This package does not include Powers of Attorney or a Health Care Directive. This package does not protect your assets against gift and estate taxes. A Will does not avoid probate proceedings for your beneficiaries. A Will is a matter of public record and accessible to anyone after your death.
Estate Planning Package Cost: $700.00
Package 2 – Two Wills, Two Health Care Directives, Two Durable Powers of Attorney and Community Property Agreement
Advantages: This package includes all the benefits of Package 1. In addition, a Health Care Directive ensures that medical decisions are made according to your wishes in the event of an emergency. A Financial Durable Power of Attorney assures that, in the event you are incapacitated, a designated person can attend to your financial obligations. A Health Care Durable Power of Attorney ensures that, in the event you are incapacitated, a designated person can attend to your medical decisions. A Community Property Agreement avoids probate proceedings upon the death of the first spouse.
Disadvantages: A Community Property Agreement does not avoid probate proceedings on the estate of the surviving spouse. A Will is a matter of public record and accessible to anyone after your death.
Estate Planning Package Cost: $850.00
Package 3 – Two Wills with Credit Shelter Trust, Two Health Care Directives and Two Durable Powers of Attorney
Advantages: This package includes all the benefits of Package 2. In addition, a Credit Shelter Trust avoids estate taxes on the first $4 million of the estate.
Disadvantages: A will does not avoid probate proceedings. A Will is a matter of public record and accessible to anyone after your death.
Estate Planning Package Cost: $1600.00
Package 4 – Living Trust Package
Includes:
- Revocable Living Trust
- Bill of Sale
- Comprehensive Transfer Document
- Mini Certificate
- Certificate of Trustee Authority and Power
- Last Will and Testament
- Durable Powers of Attorney
- Health Care Directives
- Asset Transfer Documents
- Real Estate Documents
- Asset Transfer Letters
Advantages: A Revocable Living Trust entirely avoids probate proceedings, potentially saving thousands of dollars in legal fees. Your estate is handled privately, with no governmental interference. A Revocable Living Trust is not a matter of public record. The Revocable Living Trust also avoids estate taxes on the first $4 million of the estate.
Disadvantages: This package is a little more involved and the cost is higher.