Estate Plan Created for a Growing Family
Overview
A married couple with young children wanted to organize their estate before purchasing additional investment property. They had no wills, no powers of attorney, and no trust in place. Their primary concern was making sure their children and assets would be protected if something unexpected happened to either of them.
The Dispute
The couple needed a complete estate plan covering guardian appointments for their children, incapacity planning, and asset protection, with absolutely no legal documents in place to start from.
Legal Strategy
David Borger met with the couple to understand their family structure, financial situation, and long term goals. He reviewed their existing assets and the investment property they were preparing to acquire. Based on their circumstances, he prepared Last Wills and Testaments for both spouses that nominated guardians for their minor children and established an independent administration. He also drafted durable financial powers of attorney, medical powers of attorney, living wills, and a revocable living trust designed to keep their estate out of probate. Every document was reviewed in detail with the clients before signing so they understood exactly how each piece of the plan would work and when it would take effect.
Result
The couple left with a complete, signed estate plan that covered every concern they came in with. Their children had named guardians, their assets were organized for efficient transfer, and trusted decision makers were in place for any incapacity situation. They also had a clear understanding of how to keep the plan current as their family and finances continued to grow.
David Borger made the whole process straightforward. We came in with nothing in place and left with a complete plan we actually understood.