Private Client

Transferring Assets on Death

The primary tool we use to transfer assets on death is the revocable trust. A revocable trust is a flexible instrument that allows you to retain control over your assets until death, and to direct the disposition of your assets after death. A properly funded revocable trust facilitates management of assets upon incapacity, avoids the time and expense of probate after death, and can provide significant savings of death taxes.

A revocable trust is paired with a 'pour-over' will that directs any assets remaining in your estate at death into the revocable trust. If a revocable trust is not appropriate, the will itself may contain provisions to create a trust upon death and provides opportunities to reduce death taxes. In either case, this decision is made after careful consultation with you to determine the arrangement that will best satisfy your personal and economic goals.

Our complete estate plan includes documents that delegate authority to make financial and medical decisions while you are alive. A General Durable (Financial) Power of Attorney, under special circumstances, delegates authority to make financial decisions. A Durable Power of Attorney for Health Care and Health Care Directive, under special circumstances, delegates authority to make health care decisions and also incorporates a living will.

Some circumstances may call for planning in addition to trusts or wills. Certain types of assets can be retitled to pass at death with a Transfer On Death or Pay On Death (TOD or POD) or other beneficiary designation. Such assets include life insurance, IRAs and other retirement benefits. Other assets can be held in joint accounts which pass to the survivor at death.

• Forming and Maintaining a Revocable Trust
• Wills
• General Durable (Financial) Power of Attorney
• Durable Power of Attorney for Health Care and Health Care Directive
• TOD/POD Designations
• Life Insurance
• IRAs and other Retirement Accounts
• Joint Accounts
• Trust Administration
• Trustee Selection
• Tax Returns