A living trust is the centerpiece of a well-rounded estate plan. When a living trust is established, the process of distributing assets at the time of death will not be subject to the jurisdiction and oversight of the probate court.

A transfer deed (quitclaim) will help fund your trust by transferring your real property asset into the trust – that is changing the legal title you assets in order to conclusively demonstrate that the real property is held in trust.

A pour-over-will can handle property that you may not have transferred to a trust before your death, but intended to be handled in that manner. Another advantage is the amount of privacy that a pour over will can provide, as opposed to the very public nature of a simple will. Because a pour over will has a trust component, the identity of your beneficiaries and the nature of your property will not become public record, as it would with regular wills. Pour over wills still require the probate process.

A durable power of attorney allows you to authorize someone, called an agent, to handle your financial matters if you were to become incapacitated. Without a durable POA, your family members may have difficulty accessing retirement funds, jointly held property assets, and property solely in the name of one party if you should become incapacitated.

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