Why You Need a Rice & Rice Living Trust Centered Estate Plan

You need an estate planYou may think you don’t have enough in assets to need any sort of Estate Plan. The reality is that most people who own property and/or who have children, especially from a previous relationship, need to have a well-organized, well-planned Estate Plan to protect their assets, interests and family.

The “What if’s” can cause a lot of lost sleep:

  • What happens to our children if my spouse and I both incapacitated in an accident?
  • What happens to my family, house, assets, etc. if I become disabled?
  • Who will make sure my children, grandchildren and/or other heirs receive what I have provided for them if my spouse dies before all is distributed?
  • What if my surviving spouse gets remarried?
  • What if my children aren’t of an age to take care of themselves or I want to have some instructions for how they should receive/use their inheritance?

Rice & Rice uses a Living Trust Centered Estate Plan to protect assets, reduce fees (court, attorney, publication, etc.), limit taxes and create the legacy that you want to share with future generations.
Absence of a plan can result in paying thousands of dollars in unnecessary fees, avoidable taxable incidents, loss of assets and an extended amount of time spent working through a process in which you and your heirs have little control.

The Rice & Rice Living Trust includes:

  • Directions for distribution of assets in a way that protects your heirs
  • Provides guidance for your estate in the case of disability and death
  • Directions for In-Home Healthcare
  • Extensive instructions to assist your Trustee to administer your estate
  • Details about funding your Living Trust based on types of assets
  • Remarriage Protection language
  • Additional instructions and guidance to simplify the administration of your estate

In addition to the Living Trust, which is the core of your Estate Plan, your Rice & Rice Plan includes:

  • Durable Powers of Attorney to help funding your Trust and Medicaid planning
  • Healthcare Powers of Attorney to give your appointed representative authority to make medical decisions on your behalf if you are incapacitated
  • HIPAA Waiver to allow those you identify the capacity to talk with healthcare professionals to know your situation and location if admitted to a facility
  • Pour Over Will to assist if part of your estate ends up in probate
  • Living Will to clearly state your end of life decisions so there is no confusion
  • Key Authorizations to allow specified contact
  • Affidavit of Transfer
  • Affidavit of Trust
  • Deeds in the name of the Trust

Rice & Rice knows that a Living Trust and an Estate Plan are not something that should be put on the shelf or tucked in the closet after the signing. Rice & Rice Attorneys experience means they know people get busy and don’t get everything done like they intended. This is one of the reasons Rice & Rice created the Legacy Club. Learn more about the important, on-going role the Legacy Club plays in keeping your Estate Plan the best it can be to protect your legacy.

We invite you to learn more about the Keys to a Good Estate Plan and Rice & Rice by joining us for an Upcoming Seminar/Dinner. Click the button to find a date and location that fits your schedule. We look forward to providing you with an experience you will want to share with others.