Get the Whole Trust Package

By David Harris

Over the past 6 months I have had to replace 3 different computers. My work computer just stopped working, my daughter needed one for college, and our home computer was way outdated. The process of having to choose a new computer can be very overwhelming. I am a bit of penny pincher so I always search for the best deal. I don’t want to spend too much and I don’t want to get taken for a bad deal but I want to ensure I have everything I need. On many occasions, I have upgraded my old computers just enough to limp them along for a few more years.

One of my greatest frustrations is getting a new computer, bringing it home, and setting it all up only to find out that I am missing some crucial software, attachments, or even some basic cables. I then realize there were other computers that came with the entire package. If I had only spent a little more time and money I could have saved myself a lot of headache. This is exactly how I feel in regards to the many Revocable Trusts that I have reviewed for clients and prospective clients.



Over the past two weeks we have focused on the basics of a Trust and how important they are. When you visit with an Estate Planning Attorney what should you expect in your ENTIRE trust package?

1. The Trust document itself being fully funded holding all the proper assets and beneficiary designations.

2. Your Pour Over Will allowing for all your non-trust assets to “Pour” into the trust at time of death. Please consider that if an asset pours into the trust after death, probate may be required for that specific asset

3. Your Last Will and Testament giving specific instructions to your beneficiaries exactly how you would like to see your affairs managed at your passing. If you have minor children this will also be the document that lays out how they should be cared for and by whom.

4. Financial Power of Attorney allowing specifically assigned people to make financial decisions on your behalf if you become incapacitated.

5. The Advance Health Care Directive. This is so important because it involves each individual regardless of the size of their estate.



Generally, one would assign a “Health Care” Power of Attorney and create a Living Will. If in the case that a person is unable to make health care decisions or end of life decisions the “Directive” gives specific people, the power to make choices on their behalf. There are specific trusts and documents for almost every type of family and estate. Some families may require a special needs trust or a pet protection trust. Regardless of your situation, make sure you get the entire package so when it comes time to actually use it, you and your family get what they want. This concludes our “Trust” series, so please let us know if you have any questions or if we can introduce you to an Estate Planning Attorney.


Investment advisory services are offered through Trek Financial, LLC., an SEC Registered Investment Adviser.

Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed, and past performance is no guarantee of future results. For specific tax advice on any strategy, consult with a qualified tax professional before implementing any strategy discussed herein. Trek FG 17-425

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