| Documents | Will-Based Plan | “Probate Avoidance” Plan | “Estate Tax” Plan | “Wealth Preservation” Plan | “Nursing Home” Plan |
|---|---|---|---|---|---|
| Will Durable Power of Attorney Health Care Proxy HIPAA Authorization Living Will |
Pour Over Will Revocable Trust Certification of Trust Deed and Trustee’s Certificate Funding Instructions or Funding Durable Power of Attorney Health Care Proxy HIPAA Authorization Living Will |
Includes “Estate Tax Plan” but may also include
ILITs |
Road Map to Eligibility Pour Over Will Irrevocable Trust Certification of rust Deed and Trustee’s Certificate Funding Instructions or Funding Durable Power of Attorney Health Care Proxy HIPAA Authorization Living Will |
||
| What the Plan Does/Doesn’t Do | Does Not:
✘ Avoid Probate ✘ Minimize Estate Taxe ✘ Protect |
Does:
✔ Avoids Probate Does Not: ✘ Minimize Estate Taxes ✘ Protect |
Does:
✔ Avoids Probate ✔ Minimize Estate Taxes ✘ Protect |
Does:
✔ Avoids Probate ✔ Minimize Estate Taxes Does Not: ✘ Protect |
Does:
✔ Protect Assets in Case of Nursing Home Stay ✔ Avoids Probate for those assets transferred into trust ✘ Minimize Estate Taxes |
