Recently I received a request to conduct the signing of Estate Planning package (s) for 3 clients, these documents were organized in a binder referred to as a portfolio.These came in directly from an Estate Planning company who sent them to me through over night shipping, requesting I contact the customers set up the appointment and execute the documents including the notarization of their signatures. In other instances I have conducted the same type of signing and execution of documents, when attorney's send the documents directly to the clients leaving them to find a #notary.
What is Estate Planning?
Estate planning is the process of arranging, during a person's life, for the management and disposal of that person's estate during the person's life and after death, while minimizing gift, estate, generation skipping transfer, and income tax. Estate planning includes planning for incapacity as well as a process of reducing or eliminating uncertainties over the administration of a probate and maximizing the value of the estate by reducing taxes and other expenses. The goal of estate planning can be determined by the specific goals of the client and may be as simple or complex as the client's needs dictate. Guardians are often designated for minor children and beneficiaries in incapacity.
Estate planning involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney.
Wills are a common estate planning tool, and are usually the simplest device for planning the distribution of an estate. It is important that a will be created and executed in compliance with the laws of the jurisdiction where it is created. If it is possible that probate proceedings will occur in a different jurisdiction, it is important also to ensure that the will complies with the laws of that jurisdiction or that the jurisdiction will follow the provisions of a valid out-of-state will even if they might be invalid for a will executed in that jurisdiction.
A trust may be used as an estate planning tool, to direct the distribution of assets after the person who creates the trust passes away. Trusts may be used to provide for the distribution of funds for the benefit of minor children or developmentally disabled children. For example, a spendthrift trust may be used to prevent wasteful spending by a spendthrift child, or a special needs trust may be used for developmentally disabled children or adults. Trusts offer a high degree of control over management and disposition of assets. Furthermore, certain types of trust provisions can provide for the management of wealth for several generations past the settlor. Typically referred to as dynasty planning, these types of trust provisions allow for the protection of wealth for several generations after a person's death.
An estate plan may include the creation of advance directives, documents that direct what will happen to a person's estate and in relation to their personal care if the person becomes legally incapacitated. For example, an estate plan may include a healthcare proxy, durable power of attorney, and living will.
Some estate planning attorneys often advise clients to also create a living will. Specific final arrangements, such as whether to be buried or cremated, are also often part of the documents.
If you or a someone you know received estate planning packet, binder or portfolio and were left to find you own #Notary
Give me a call and will arrange a meeting where you can sign your documents and have them #notarized at the same time.