SUE AND BOB CLIENT ESTATE PLAN
- BENEFICIARIES
Following First Death: The deceased spouse’s assets managed in a trust for surviving spouse’s needs. Surviving spouse owns and controls surviving spouse’s assets.
Following Second Death: Gifts of $100,000 made to each of 5 grandchildren, a gift of $100,000 made to First Lutheran Church, with all remaining assets divided equally between three children, Don, Joan, and Heidi.
- KEY LEGAL ROLES
- Financial Power of Attorney: Your attorney in fact has the legal authority to make financial decisions for you during your lifetime. Spouse, otherwise Heidi.
- Health Care: Your health care agent has the legal authority to make health care decisions if neither of you can act. Spouse, otherwise Don.
- Personal Representative/Executor: Your personal representative implements your directions following death. Spouse, otherwise Don.
- Trustee: A trustee would manage any ongoing testamentary trusts established for grandchildren following the second death. Joan is named.
- PROFESSIONAL ADVISORS
Financial Advisor: Johnson Financial Group
CPA: East & West, CPA.
Attorney: Veritage Law Group
Leave a Reply