Estate Plan w/ Trust for Children

Seller: Ward Law, PLLC

Contact: Timothy Ward

Location:

In Categories: Estate Planning

An estate plan with a contingent trust is best suited for individuals or couples with young children. In the event something happens to both parents, it provides financial security for the child until they are old enough to manage their own finances. Not all children are ready to manage large sums of money when they turn 18, so the trust is flexible enough to allow you, the parent, to decide when the child will receive the trust funds. For instance, the child can receive the trust funds in 1 lump sum at a certain age, or spread out over several years, or just about any other way you want it to work.

This package includes a will, trust, power of attorney, and healthcare directive. The power of attorney allows someone else to manage your finances if you become unable to do so yourself. The healthcare directive allows someone to make healthcare decisions for you if you are unable to make them yourself, and you can also specify what medical procedures you will or won't allow.

I meet with clients in their homes to determine their specific needs and desires and create a trust and a will that work together. Each plan is tailored to you - no generic forms are used.

Timothy E. Ward  (612) 751-7519