WILLS

• • Simple Will
• • Complex Will
• • Super Will
• • Pour-Over Will

 

• Go to the Wills Page

TRUSTS

• A. LIVING TRUSTS
• 1. Revocable Living Trust
• 2. Irrevocable Trust

 

• B. TESTAMENTARY TRUSTS
• 1. Marital Deduction Trust
• 2. Bypass/Credit Trust
• 3. Educational Trust

• C. OTHER TRUSTS
• 1. Charitable Remainder Trusts
• 2. Unitrust
• 3. A Crummey Trust
• 4. Annuity Trust
• 5. Insurance Trust
• 6. Personal Residence Trust
• 7. Irrevocable Life Insurance Trust (ILIT)

 

• Go to the Trusts Page

POWERS OF ATTORNEY, DIRECTIVE TO PHYSICIANS, AND AGREEMENTS

• A. Advanced Directive to Physicians. Commonly called “Living Will”
• B. Powers of Attorney
• C. A Power of Appointment
• 3. A Crummey Trust

 

• Go to the Powers of Attorney Page

 

COMMUNITY PROPERTY AGREEMENTS

• A. Prenuptial (or Property) Agreement

 

• Go to the Premarital & Property Agreements Page

OTHER MECHANISMS

• LIFE INSURANCE

Life insurance provides liquidity to an estate when needed for the payment of taxes, administrative fees, and creditors to avoid forced liquidation of other estate assets. It affords budgeting through current costs of premiums instead of having to keep a large quantity of assets liquid at all times. Thus, preventing the quick sale of property at less than fair value, sale of highly appreciated assets (resulting in additional income or capital gains tax), or the sale of family assets of high sentimental value.