Frequently Asked Questions2022-08-26T22:55:30-05:00
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Frequently Asked Questions

What is an estate plan?2022-08-21T14:07:05-05:00

An estate plan is a series of documents that address the management and disposition of your property during life and upon death. An estate plan allows you to determine who will care for your children and how your property will be managed for them upon your death.

Do I need an estate plan?2022-08-21T14:07:05-05:00

YES! If you have children, life insurance, or care about what may happen to your assets upon your death, estate planning is imperative. Trust customizes each of our plans to meet your family’s specific needs. Read more about the importance of an estate plan.

What if I don’t have an estate plan?2022-08-21T14:07:05-05:00

Without an estate plan, state statutes determine how your property will be distributed upon your death and court proceedings determine who will be named the guardian of any minor children. This can be expensive, time-consuming, and can lead to family disputes.

What comprises an estate plan?2022-08-21T14:07:06-05:00

Typical estate plans include a will, a revocable trust, a power of attorney for property and a power of attorney for health care. In some cases, a simple will, without a trust, may be sufficient.

What is a will?2022-08-21T14:07:06-05:00

A will is a declaration of your wishes regarding the disposition of your property upon your death. A will may be revoked and amended during life. A will allows you to select guardians for your minor children.

What is a trust?2022-08-21T14:07:06-05:00

A trust determines how your property is to be managed and distributed during your life and upon your death. Revocable trusts may be revoked or amended during life. Trusts may be set up to manage assets for your children upon your death.

What is a power of attorney for property and power of attorney for health care?2022-08-21T14:07:06-05:00

A power of attorney for property allows you to name an agent to make financial decisions on your behalf if you are unable to do so. A power of attorney for health care allows you to name an agent to make health care decisions on your behalf if you are unable to do so.

What else is involved in estate planning?2022-08-21T14:07:06-05:00

Full-service estate planning can involve tax and financial planning. In fact, many clients have estate planning work done for the sole purpose of tax planning as part of their overall financial planning, both during life and upon death. Trust is able to provide new families with high-quality estate planning documents for a fee significantly lower than full-service estate planning firms because Trust does not provide tax and financial planning services. Trust does not provide counsel for those who require comprehensive estate planning related tax and financial services, such as tax minimization techniques, business succession planning, or investment guidance.

Is estate planning just for wealthy people?2022-08-21T14:07:06-05:00

No, all parents need an estate plan. Trust is ideal for new families who need an estate plan, but who are not looking for comprehensive tax and financial planning.

How much will creating an estate plan cost?2022-08-21T14:07:06-05:00

One of Trust’s goals is to make estate planning more affordable than traditional law firms. Trust charges a flat fee for each custom estate plan so you don’t need to worry if your children interrupt our meeting — we are not charging you by the minute like many law firms. Each of our estate plans is customized for your specific needs and fees are assessed accordingly. For details, please contact us so we can discuss the best plan for your family.

How long will creating an estate plan take?2022-08-21T14:07:06-05:00

If you’re like most people, you’ve been putting this off for a while. Trust wants to make this is as easy as possible for you to complete once you’ve started the process. Turn around time can be as little as a week or two once we’ve received the information we need. And we will walk you through everything!

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Estate Planning Basics

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Trust’s goal is to make estate planning accessible and easy for families. We can do most of our meetings over the phone (during nap time or after bedtime or on the weekends), we charge a flat fee, and children are always welcome to join us when we meet to finalize your documents.

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