Will and Trust Comprehensive Package

The Will and Trust will be providing the following for you and your family.

• Please specify your last wishes and appoint someone to carry them out.
• Transfer your assets to beneficiaries after your death.
• Transfer your assets into a trust while you're alive so they pass to beneficiaries once you're gone.
• Name guardians for minor children.
• Make decisions about life support and organ donation in advance.
• Name someone to handle your financial and legal affairs.
• Name someone to manage your healthcare.
• Avoid probate  

The following are the details of the NetLaw Will and Trust Comprehensive Package:

• The plan covers both husband and wife for their lifetime.
• There are no recurring or monthly fees associated with this package.
• The standard package cost is $600. However, as a Financial Services professional, I have access to a discounted rate of $300 per family (covering two individuals).

With a single account, both spouses can create the following estate planning documents:

• Wills
• Trusts
• Other related legal  documents are included in the package
• Once the Will and Trust documents are created, they must be notarized and submitted to the appropriate County or State office, in accordance with the regulations of your state of residence.

The list of Will and Trust Documents that you are getting for the Will and Trust Comprehensive package for a Family of two:

1. Last Will & Testament
2. Revocable Living Trust (RLT)
3. Power of Attorney
4. Living Will Declaration
5. Health Care Surrogate Designation
6. HIPAA Authorization

What is an executor?

In general, the executor is the person named in your Will to settle your affairs after your death. Your executor will file your Will with the probate court, pay your debts, distribute your assets as provided for in your Will, and oversee the entire probate process until your estate is closed.
 

What is a guardian?
In general, a guardian is a person named in a Will who is responsible for the support, education, and welfare of the deceased person’s minor children. Keep in mind that if your minor child’s other parent is living, he or she will likely be given custody of your minor child.
 

What are my responsibilities as a trustee?
In general, the trustee controls the assets in the trust. If simplifying probate is one of your goals, you will transfer assets into the trust during your lifetime.
 

What happens if I name more than one alternative?
In general, if you name two people, they will have to agree on any decisions that are made.  If you name three or more people, they will act by majority vote.

Please let me know if you require additional information or have any further questions.

Settlor (also called Grantor or Trustor)

Meaning: The Settlor is the person who creates the trust and transfers assets into it.
Role: They decide the terms of the trust — such as who will manage it (the trustee) and who will benefit from it (the beneficiaries).

Example:
Suppose John creates a trust and places his house and investments into it. John is the Settlor because he set up the trust and contributed the assets.