What is Included in Each Document?

 

Trust:

Also called a “Living Trust,” “Revocable Trust” and “Revocable Living Trust.”

Contains Trustee nominations (who will manage your Trust assets).

Contains your distribution plan (who will get what on your death).

All California Trusts Online Trusts are revocable (meaning that they can be stopped or changed during your lifetime as long as you have the mental capacity to do so).

 

Will: 

Contains Executor nominations (who will distribute your assets in your Will on your death).

Contains your distribution plan (who will get what on your death).

In a “Pourover Will” the distribution plan is simply to give everything to your Trust because your Trust contains your full distribution plan.

 

Advance Health Care Directive: 

Contains nomination for a health care Agent (previously called a “Power of Attorney for Health Care”).

Contains instructions for your health care Agent on how to make decisions for you.

Contains HIPAA authorization (who can see your medical records).

Contains your preferences for end of life care (also called a “Living Will”).

Is not the same thing as a Physician’s Order for Life Sustaining Treatment (“POLST”) and is not the same thing as a Do Not Resuscitate Order (“DNR”). You have to get these from your doctor.

 

Financial Power of Attorney:

Also known as a “General Power of Attorney” or a “Durable Power of Attorney.”

Contains nomination for Agent to act for you except regarding your health care.

Can be made effective either immediately on signing or on a determination that you lack the capacity to make your own financial decisions.

Contains a customized list of powers that your Agent can use in order to act for you (which can include running your business or filing your tax returns, etc.).