2:22 Estate planning portfolio 3:27 Table of contents 3:42 Revocable living trust (if prepared) 4:22 Trust transfer documents (if revocable living trust prepared) 4:59 Pour-over will (if revocable living trust prepared) 5:46 Last will and testament (if prepared) 6:20 Property power of attorney, a.k.a. financial power of attorney (if prepared) 7:01 Healthcare power of attorney (if prepared) 7:34 Living will declaration (if prepared) 8:33 Location list of designated-beneficiary assets (e.g., life insurance, annuities, IRAs) 9:08 Location list of legal documents, personal papers not in the portfolio (e.g., in safe deposit box) 9:58 Estate planning letter (e.g., explanations of why assets are distributed the way they are, funeral and burial plans) 12:30 Instructions for executor, successor trustee, beneficiaries, heirs, agents named in powers of attorney 13:21 Glossary of legal terms
@danidelyon70933 жыл бұрын
Thank you for detailed notes here! :D
@faramarzmokri91362 жыл бұрын
Thank you for your effort. It was very helpful. Hope we can get also the Glossary of legal terms to make it a complete list.
@tinamcclenahan8775 Жыл бұрын
So so very much appreciated! My husband and I received our “MyAdvocate” Portfolio just a short couple of days ago, we couldn’t be happier with the thorough guidance we have had… Thank you!!!
@kevinbrennan87944 жыл бұрын
Thanks again for sharing Paul. Love to get a copy of your "Glossary of Legal Terms" that are used in estate planning.
@jackgrimeslaw4 жыл бұрын
Paul - I am an estate planner and small business attorney in Virginia and very much appreciated your video. I too use the portfolio style (rather than the tiny envelopes method) and this was a good review of the components. Thanks for your time and effort in helping both the attorney and client community.
@TheSuzyfick2 жыл бұрын
Hello from Illinois. Learning something new each day you post.
@tonyagaddie61112 жыл бұрын
OMG, this is such an awesome video. This should be the first video everyone working on an estate plan watches. It's like a to do list and it tells me what I need my family members to know and how I should organize it. Take each section on table of contents 1 at a time and dive in. I previously had a fuzzy concept of what a living trust was, your videos have really clarified things. I now feel confident about understanding each piece of what I am doing in my estate plan. You are AWESOME!
@maxmake254 Жыл бұрын
You are so kind to take your time to explain the essential items in the E.P. Portfolio. You definitely earned the 👍 Thank you!
@mercurynfo4 жыл бұрын
Living Trust, Pour-over Will (or Final Will and Testament), Financial Power of Attorney, medical Power of Attorney, Living Will, Location List (of assets), Estate Planning Letter, Final Arrangements.
@michaelmeichtry3163 жыл бұрын
Also, may include a HIPPA authorization document.
@kathy13volpe3 жыл бұрын
Thanks so much Paul. My mom passed 1 month ago and she always told me she had a will & how it was located in her big drawer in her dresser; however , I never really looked @ it & when she left us I could not find it! It was a mess bc she had a life insurance policy but she left herself as the beneficiary & when I notified & received the small check from Mutual of Omaha I could not cash the check bc it was made out to "The Estate if my mother" & not me or any specific person. What a headache this is bc I needed the cash to pay the undertaker! We'll, after 2 1/2 weeks I finally found her will neatly prepared by a law firm in Philly, & it was notarized & witnessed by 2 people & signed, & thankfully she named me as the executive as she lived with me & my family for the last 30 years. But the kicker was that I could not locate or find the will bc I think she forgot where she placed it bc she had dementia as well so yes it is imperative to b able to locate these important documents! I lost 2 weeks time & almost had to go to probate court bc 1 niece refused to sign to make me executor . My brother died 29 years ago & a 50 year old child of his refused to co operate to expedite getting that little check deposited / cashed so the undertaker could b paid. What a mess! Learning by fire is no fun.
@gracerodgers89522 жыл бұрын
Thank you for showing me some of the things I never knew I never knew. Now, God help me.
@kerstinlampert73373 жыл бұрын
A valuable and eye opening discussion. Thanks for giving your knowledge to us.
@christinebalog76484 жыл бұрын
This video was one of the best I have watched. I am just getting started and this video was very helpful.
@ryderlunad20104 жыл бұрын
Thanks for the great information you put out If appropriate can you explain the family bank concept -
@CraigMcDonald12343 жыл бұрын
Thank you Mr.Rabalais!
@Palmafricana2 жыл бұрын
Having digital copies of these documents would be very valuable
@gmail-business43764 жыл бұрын
Thank you for your clear communication and examples. I have watched several hours of videos.
@americasestateplanninglawy19464 жыл бұрын
Thanks for binge-watching Cindy 😜
@davidfarber75423 жыл бұрын
Thank you very much Paul! We are well on the way to setting up and protecting our estate.
@suecarranza5052 Жыл бұрын
Exactly what I have been looking for. Thank you
@kayfathauer63692 жыл бұрын
I really like the Estate Portfolio suggestion. My sister and I are co-trustees now settling our 99-year-old mother's estate, with advice from estate lawyers. We are also setting up our own trust. You explain it all so well. (You could teach law at a university.) Thank you for the information.
@mulone2144 жыл бұрын
Your video's are great ! Very helpful.
@americasestateplanninglawy19464 жыл бұрын
Thanks JM 👍
@EC44003 жыл бұрын
Excellent information.
@Mohairp532 жыл бұрын
Hi Paul, as I have been searching for estate planning advise, I came across this video and found it very informative and useful. Thanks for sharing the idea of putting together an Estate Planning Portfolio as it is an excellent idea to consolidate all necessary documents idea. As I'm in the middle of organizing and assembling my estate information, I'll follow your advise to create this portfolio with necessary legal and accompany documents in a single folder for later review with my family such that they know what was prepared as in case this need to access them. I may even create a 2nd folder save it somewhere else as backup as in case. I just subscribed your channel and will look at more of your advice. Great job and keep it up. Thanks again.
@kenney03134 жыл бұрын
These are awesome videos! I'm almost finished my plan and this video pops up affirming what I'm doing.
@nabilhakim14444 жыл бұрын
My wife and I watched many of your videos. Wish you were in MI or we were in LA. A brief comment on "expanded powers" for a FPOA may be helpful. Thanks much for your service to the public at large!
@MyWorld-xw6ic2 жыл бұрын
Can you discuss what a renter should do who is renting to own a property, makes the check payable to the estate of the deceased owner, but the owner’s wife, whose name isn’t on the house, calls back over 2 years after the death and the balance is paid off and tries to coerce you to have the money orders reissued to her because the court still hasn’t assigned an administrator to the estate so no probate bank can be opened and she complains that she can’t do any thing with the money you’ve paid.
@painlesscotton2 жыл бұрын
old outdated beneficiary designations scare me. do they overide a will? Please discuss and why it's important to keep those up to date after major life changes!
@milandragojlovich55003 жыл бұрын
I watched most of your videos; great work, very informative…thank you
@veragu81374 жыл бұрын
Thanks for your informative video!
@americasestateplanninglawy19464 жыл бұрын
You’re welcome VG 😎
@NadiraBag Жыл бұрын
Thank you so much
@luxlonghair4715 Жыл бұрын
Great video 🎉
@theresab8525 Жыл бұрын
Can you do a segment on creating an estate plan in the state your in vs another state? Can I live in one state and have someone else in another state to draw up estate papers
@slimdawgwoof4 жыл бұрын
Great job. Would you be able to how whole life and term life work when it comes to estate planning? When does whole life provide any advantages in avoid in estate taxes? People are trying to sell me on whole life and I have been having hard time figuring out its implications on estate planning and passing wealth on.
@fransvan50924 жыл бұрын
Thanks for your video’s, time, and effort. Very very informative. If everything you have is jointly owned (house, bank accounts, vehicles) and on your death doesn’t everything go to the spouse? Thanks again.
@debbiea44823 жыл бұрын
Thank you for all the tips/vids you share with us.
@SuperBullyone4 жыл бұрын
question: my mother was leaving her house to her grand-daughter. My mother has lived a long life - 90, she has capacity. Her grand-daughter got tired of waiting and got her grand-mother to sign a quick claim deed making grand-mother and grand-daughter co-owners of the house. This took the house out of the protection of the trust. Then the grand-children (all 3 of them decided to put grand-mother into a nursing home and take their inheritances. I, my mothers last living child, stepped in and stopped them from putting my mother in a nursing home and taking her house away from her. Two of the great grand-daughters were going to move into the house when mother got put in a nursing home. Now, my mother is pissed off that her grand-daughter and great-grand-daughters lied to her, tricked her, and tried to put her in a nursing home and take possession of her house. My mother says she did not understand that her grand-daughter was becoming co-owners of her house, and she wants her grand-daughters name off the deed of her home. She also does not want to leave the house to her grand-daughter anymore. Lawyers tell her there is nothing she can do to get her house back. The grand-daughter will not deed the house back to her grand-mother. In a hypothetical situation something like the one described, what are some options available in this sort of situation? The entire point of putting the house in a trust was to name the successor owner of the house, protect the house and avoid probate. (The grand-daughters behavior raises some concerns. Why is it so important that the grand-daughter have ownership of the house now? Why couldn't she wait? Could the granddaughter have run up debts and her creditors might put liens on my mothers house? Is that anything to be concerned about?
@glonu23 жыл бұрын
Paul would you please discuss the pros and cons of using a LDA to prepare a revocable living trust? Thanks so much!
@wandagreer91444 жыл бұрын
Thank you for the work you do. This one cleared up a lot for me.
@americasestateplanninglawy19464 жыл бұрын
I’m glad WG! 😎
@kathleenraymond40614 жыл бұрын
This was amazing. So appreciate this information. Thank you!
@americasestateplanninglawy19464 жыл бұрын
You’re welcome KR 😎
@pratibharana29834 жыл бұрын
Another invaluable video. Thanks Paul for the trove of information. I have a suggestion for a video. So in this age of digital everything, do we really need to keep the paper copies. Can we just maintain digital copies which are easier to maintain and share with trustees/beneficiaries if and when needed. Would the court recognize printouts of those digital copies or would they need the originals.
@americasestateplanninglawy19464 жыл бұрын
Great suggested topic PR. It’s on my “digital” list of videos to make. 😂
@jackfrosty46742 жыл бұрын
what happens if internet goes down and electrical black out. Guess may lose the data.
@bettycapps2 жыл бұрын
How can we acquire this binder? I’m sure that not all attorneys provide this type of binder. I’m so unorganized that this will be a tremendous help.
@charlesstagg1004 жыл бұрын
Subject for future video: Does the Pour-Over Will(s) in a Living Trust have to go through Probate?
@robertlealesq4 жыл бұрын
Have you heard of the New Law Business Model for Estate Planning? If so, was hoping your could give your thoughts? Thanks in advance.
@pamelasannuti807 Жыл бұрын
Great content. Which documents needs notarization?
@benmartorana57164 жыл бұрын
Could you do a Video on using a Life Estate for your home, instead of adding it in a revocable trust.
@jackfrosty46742 жыл бұрын
ladybird deed is one way.
@georgevalente42232 жыл бұрын
Paul... considering putting all "my"assets/properties in an irrevocable trust. This is a second marriage for both my wife and I. What I have not heard... Should I go into assisted living facility will my wife receive any portion of my pension and Social security. Will Medicaid looked at my wife's assets and property? These were her assets before our marriage.
@user-hx3io5xs5b11 ай бұрын
Paul I like your video about the trust law's I have a question what paperwork does the deceased have for the person whomever is named the executor of the estate and is it normal for a person to change will to a trust one year before they pass away
@schadlarry3 жыл бұрын
I'm child B and will be happy if I get 40%.
@paulthomasshepherd51562 жыл бұрын
Did you miss titles or deeds to property, house, car, etc. ?
@maryellenrose17643 жыл бұрын
One child is stable and focused and has been all his life. The other one is mildly special needs and we’re doing a trust for her because every six to 12 months she goes off the rails. So very glad he suggests a letter to the family.
@roary-4886 Жыл бұрын
My parents chose me to oversee things after they pass away, Said I was the fairest of them All. I've been kept out of the loop since their passing by the executor and ,step siblings. My dad explained that if I didn't understand any of the issues at hand or that his last wishes were not being upheld, and if people like, the bank,broker, executor weren't willing to help me with these matters, that I can fire them ! ALL OF THEM, If need be. Amy way's,here I am,still trying to figure out what the heck happened with no one to turn to for advice on All of this,.it Could be I'm supposed to step up still,even though it has been three years now since they both passed away, leaving me with a whole lot of unanswered questions,going way back like; "what the heck happened" ??? Sincerely. No closure.
@P29ZAD2 жыл бұрын
I live overseas and only own retirement accounts. I have the beneficiaries designated. Can I put those in a Living Revocable Trust. When I come back to the US, I will rent, but buy a car. I want a Trust because if my wife or I die, I want my oldest son to be a co-exicator for my Trust. I saw my step mom talk my dad into giving everything to him.
@mkweber96152 жыл бұрын
What is a quit claim deed? Does it roll a home into the existing Revokable Trust?
@jackfrosty46742 жыл бұрын
IT means are giving up your rights to the property. Then is someone elses property.
@annblair44592 жыл бұрын
Do you have any lawyers that you know that do estate planning in Colorado near Denver ?
@lanettepresswood70092 жыл бұрын
Probate if someone lives in the home that the descended lived in can another family meme er make u move out.
@johnr.clarksonj.d.43124 жыл бұрын
Just wondering what software you use and which binder do you purchase?
@bobwood51463 жыл бұрын
Do you provide services for folks in other states than your own? I assume a lot of things ,even though state specific, could be handled by a person like yourself.