Videos Explaining Your Living Trust Documents 2017-12-15T05:44:53+00:00

Part 2 Videos
Instructions & Explanations of Your Living Trust Documents

Step-by-Step Videos That Explain & Guide You Through Each of Your Trust Documents

In this section you will find a series of short videos that thoroughly explain each of your trust documents including their importance and purpose — and then guides you through how to sign and notarize the document that is the subject of the video. They are best watched in their numbered order. If you already have your documents we suggest that  you complete the corresponding document or task before moving on to the next video.  If you haven’t already done so it is probably best to first go through the Part 1 video series — completing the “Trust Intake Packet”.

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(1) Overview of Your Living Trust Documents & Signing Them (2min 36sec)
Be sure to review this presentation, which provides a general overview of your living trust documents and overall guidance about signing and notarizing your documents. Remember, your trust documents are not effective until they are signed and notarized, which is why we strongly suggest you do both as soon as possible. Watch the video and learn more.
(you can read about it instead of watching the video by clicking here.)

 

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(2m) Your Married Trust Explained — Understanding & Signing It(3min 05sec)
The first document in your MARRIED trust package is the living trust itself (singles see below). This presentation helps you to understand your living trust. Don’t be intimidated by the number of pages because like all comprehensive trusts, it is comprised of a great deal of standard language. While this standard language may be necessary to a well functioning trust, few will find it to be exciting reading. That is why we choose to first focus your attention on the parts of the trust we believe are most relevant and personally important to you — and they can all be found in the first pages of your trust.   Watch the video and learn more(or you can read about it instead of watching the video by clicking here.)

 

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(2s) Your Single Trust Explained — Understanding & Signing It (2min 42sec)
The first document in your SINGLE trust package is the living trust itself (married see above). This presentation helps you to understand your living trust. Don’t be intimidated by the number of pages because like all comprehensive trusts, it is comprised of a great deal of standard language. While this standard language may be necessary to a well functioning trust, few will find it to be exciting reading. That is why we choose to first focus your attention on the parts of the trust we believe are most relevant and personally important to you — and they can all be found in the first pages of your trust.  Watch the video and learn more(or you can read about it instead of watching the video by clicking here.) 

 

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(3)  Trust Estate — Master Transfer & Assignment of Assets — Purpose, Explanation & Instructions (1min 57sec)
This presentation details how this document acts as a general assignment and declaration that you presently intend all of your assets to be a part of and governed by your trust — including all household and personal effects. It is intended as an emergency backup between now and when you are able to formally title each asset in your trust. Watch the video and learn more(or you can read about it instead of watching the video by clicking here.)

 

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(4) The Pour-Over Will — Purpose, Explanation & Instructions (3min 17sec)
This presentation details the main purpose of the Pour-Over Will, which is to act as another backup device that allows your trust to gain control of any stray assets left outside of your trust. In other words if you happen to die with assets that are not titled in your trust and there is no other way to get to them, then the “Pour-Over Will” can be used as a final resort to gain legal control over the assets.  Watch the video and learn more(or you can read about it instead of watching the video by clicking here.)

 

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(5) Guardianship for Minor Children — Purpose, Explanation & Instructions(49 sec)
If you have minor children, this document nominates those you wish to act as guardians for your minor children in case something happens to you. Assuming you have minor children, please sign and date your Nomination of Guardianship document. Watch the video and learn more.
(or you can read about it instead of watching the video by clicking here.)

 

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(6) The Community Property Agreement for Married Couples — Explanation & Instructions (1min 56sec)
The purpose of this document is to help secure the double stepped-up basis available to community property assets. It simultaneously overrides Joint-Tenancy designations and helps satisfy the IRS written requirements to qualify for this benefit. Again, this one page agreement often ends up being the single most valuable and beneficial document a married couple signs in the estate planning process. That said, any spouse concerned about preserving potential separate property rights should decline to sign this document. Watch the video and learn more(or you can read about it instead of watching the video by clicking here.)

 

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(7) Deeds (for transferring your real estate) — Explanation & Instructions (1min 56sec)
This presentation discusses the included deeds whose purpose is to transfer and title your real estate property in the name of your living trust. Whether you own a whole or partial interest in real estate, if you want your trust to pass the property it is vitally important that you correctly execute and record a separate deed for each property conveying and transferring that property to your trust. Watch the video and learn more.
(or you can read about it instead of watching the video by clicking here.)

 

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(8) Preliminary Change of Ownership Report (PCOR) — Purpose, Explanation & Instructions (2min 44sec)
In order to record your deed in California, it must be accompanied by a signed Preliminary Change of Ownership Report. The main purpose of the PCOR is to inform the county what type of transfer is occurring. Other states have similar forms for similar purposes. In California and almost every state you are essentially informing them it is a transfer to your revocable living trust and thus exempt from reassessment.  Watch the video and learn more(or you can read about it instead of watching the video by clicking here.)

 

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(9) Durable Power of Attorney For Finances — Purpose, Explanation & Instructions (3min 04sec)
It is important to remember your trust only covers trust assets, which still leaves a certain gap in your affairs. Most want to address these gaps by executing a broad based, immediately vesting Power of Attorney, which we include as part of the trust package. However, if you are at all uncomfortable presently granting someone this power then do not sign this document. Otherwise you are welcome to use this one. Please be sure to watch this video(or you can read about it instead of watching the video by clicking here.) 

 

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(10) Advance Health Care Directive — Purpose, Explanation & Instructions (7min 39sec)
This presentation discusses the included Advance Health Care Directive, which is the new terminology for a document that combines the functions of the both the Living Will and Power of Attorney for Health Care. This is now the most up to date, comprehensive document for stating your health care wishes and empowering someone to interface with medical personnel and make decisions in case you are unable. Please be sure to watch this video(or you can read about it instead of watching the video by clicking here.)

 

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(11) Recording Your Deed(s) With The County Recorder — Explanation & Instructions (4min 50sec)
Once your deed is signed and notarized, the next step is to record it. This presentation gives you step-by-step instructions. You can record a deed in person or by mailing it to the recorders office in the county in which the property sits. Pleas carefully follow all instructions for doing so. Please be sure to watch this video.
(or you can read about it instead of watching the video by clicking here.)

 

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(12) Safekeeping Your Documents, E-Copies, & Record Keeping — Suggestions & Guidance (5min 01sec)
When it comes to your paper documents our suggestion is to keep your trust originals in a secure place, such as a safety deposit box or safe, or at the very least, store the original and a copy in two different locations. We also offer electronic copies of your trust documents in an Adobe Acrobat, PDF format. We also discuss maintaining an accessible, up-to-date outline of your finances, accounts and other data. Please be sure to watch this video(or you can read about it instead of watching the video by clicking here.)

 

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(13) An Explanation of Your Trust Binder Package (In-Office Clients Only) (1min 46sec)
Once you complete your trust all of your signed original documents will be given to you in a clear plastic envelope along with a trust management binder containing a full, page for page copy of all of your documents. Again, we do not retain your trust originals – you do. Be sure to safeguard them. Please be sure to watch this video.