Ancillary Documents The Basics Lesson Summary This lesson

Ancillary Documents: The Basics

Lesson Summary • This lesson covers the basics of some Ancillary Documents, such as: Advanced Directives, Durable Power of Attorney, Springing Power of Attorney, Durable Power of Attorney for Health Care, Living Will, Revocable Trust, Joint Tenancy with Right of Survivorship, Conservatorships, Estate Administration and Community Property Agreements. • Proper planning for incapacity, especially for our older members, is vitally needed. We must commit to provide quality substitute decision making for the conduct of business, management of property and personal care when incapacity becomes a reality.

Lesson Summary • What do I need to know? • It would help the student to be generally familiar with the Ancillary Documents listed above. • What will I learn in this lesson? • Creation, Benefits, Essential Elements and Tax Consequences of the Ancillary Documents listed above. Rely on legal counsel.

Learning Outcomes Following this lesson the student will be familiar with: • Numerous types of Ancillary Documents and the basic function of each as we help our members plan for incapacity. • The Five Essential Elements of a RT • Tax Consequences

Suggested Books or Resources • Planned Giving & Trust Services Manual, Chapter 8 • The Executor’s Guide. Settling a Loved One’s Estate or Trust. 7 th Edition