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  • Revocable Living Trust

    Thank you for considering Fintech Umbrella LLC as your partner in financial planning and legacy protection. We look forward to serving you and helping you achieve peace of mind through comprehensive estate planning.

    Your Financial Well-being and Legacy

    At Fintech Umbrella LLC, we prioritize your financial well-being and peace of mind, offering the Revocable Living Trust as a strategic tool to safeguard your legacy, protect your assets, and ensure a smooth transition for your loved ones in today's changing financial landscape.

    Benefits of a Revocable Living Trust

    • Asset Protection and Privacy: Protect your assets while keeping your financial affairs private, bypassing the public probate process.
    • Control and Flexibility: Maintain control over your assets with the ability to amend or revoke the trust as needed.
    • Avoiding Probate: Facilitate a seamless transfer of assets to your beneficiaries without the delays and expenses of probate.
    • Incapacity Planning: Include provisions for asset management and healthcare decisions in case of incapacity.
    • Protecting Your Heirs: Establish clear guidelines for asset distribution to reduce the risk of family disputes.

    Why Choose Fintech Umbrella LLC?

    As specialists in comprehensive financial services, our team is dedicated to guiding you through the setup of your Revocable Living Trust, ensuring it aligns with your unique needs and financial goals.

    Take the First Step

    Secure your legacy and provide for your loved ones with a Revocable Living Trust. Contact us today to schedule a consultation and explore how we can tailor a trust to your specific needs and aspirations.

    About Revocable Living Trust

    The revocable living trust form allows you to manage your assets effectively, avoiding probate and ensuring privacy in the distribution of your estate. With the flexibility to benefit from your assets during your lifetime, this trust can be amended or revoked as your circumstances change.

    Bypassing the Burdens of Probate

    One of the primary advantages of creating a comprehensive Living Trust is to spare your loved ones the stress, delays and expenses of the probate process after you pass. This Trust form is carefully designed to ensure your assets transfer directly to your designated beneficiaries according to your wishes, without the need for court involvement. By providing clear instructions and a detailed record of your intentions, you can give your family the gift of a smooth, private transition and let them focus on celebrating your life and legacy during their time of grief.

  • Grantor Information

    This is the individual that is establishing the trust

  • Trustee Information

    This is the individual that is responsible for enforcing the trust

  • Successor Trustees & Trustee Powers

    Trustee Authority

    In addition to all common law and statutory powers, and except where in conflict with any other provision in the Trust, the Trustee shall have the following authority:

    Property Acceptance and Retention

    To accept and receive property, both real and personal, from the Grantor, the Grantor's estate, or any other estate, trust, or person, and to hold the same as part of the Trust 

    Income Collection

    To collect income, interest, dividends, rents, and profits from Trust assets.

    Investment Powers

    To retain any or all of the property, real or personal, received to be held in trust hereunder in the form of investments.

    To invest and reinvest Trust property in any investments the Trustee deems proper, without regard for diversification principles or whether any investment would ordinarily be considered suitable for a trustee to make or hold.

    Real Estate & Tangible Personal Property

    To retain any real estate or tangible personal property received to be held in trust hereunder.

    To acquire any real property and/or tangible personal property, allowing the Beneficiaries to use such property as advisable and commensurate with their beneficial interests.

    To make repairs, improvements, and pay taxes, insurance premiums, and other charges related to the property as the Trustee deems advisable.

    Sale, Lease, and Exchange Powers

    To sell any real or personal property of the Trust at public or private sale for cash or on credit, or to exchange the same on terms the Trustee deems advisable.

    To lease any real or personal property of the Trust at times and on terms the Trustee deems advisable, even if the lease may extend beyond the term of any trust.

  • Understanding Types of Distribution

    When creating a living trust or will, it's important to understand the different ways you can distribute your assets to your beneficiaries. Three common methods are Per Stirpes, Per Capita, and Specific Bequests. Let's explore each of these options: 

     

    Per Stirpes

    Per Stirpes is a method where if a beneficiary passes away before you, their share of the assets will be divided equally among their own descendants (children, grandchildren, etc.). This ensures that each branch of your family will inherit a portion of your assets, even if a beneficiary predeceases you.

    For example, if you have three children and leave your assets to them equally, but one child passes away before you and has two children of their own, their one-third share will be split evenly between their two children.

    Per Capita

    Per Capita distributes assets equally among the living beneficiaries of the same generation. If a beneficiary dies before you, their share is divided equally among the remaining beneficiaries of the same generation, rather than passing to the deceased beneficiary's descendants.

    For example, if you have three children and one passes away before you, the remaining two children would each receive half of your assets, and the deceased child's descendants would not inherit directly.

    Specific Bequests

    Specific Bequests allow you to name each beneficiary and the specific assets they are to receive. This gives you more control over the distribution of your assets and ensures that certain items or amounts go to specific individuals.

    For example, you could leave a particular piece of jewelry to your daughter, a sum of money to your son, and a property to your grandchild.

     

    It's important to note that both Per Stirpes and Per Capita can be used in conjunction with Specific Bequests. You can choose to distribute certain assets using Specific Bequests and then use Per Stirpes or Per Capita for the remaining assets.

    For example, you could leave a family heirloom to a specific child using a Specific Bequest, and then distribute the rest of your assets using Per Stirpes or Per Capita among all your children.

  • Pets

    For trusts that include one or more pets, the names and addresses of a Pet Caretaker

  • Third Party Enforcer

    Third Party Enforcer (referred to as the “3rd Party Enforcer”) may intervene to request an accounting for the funds allocated in the Trust for Pets. An accounting may not be requested more than once per year. In addition, from time to time the 3rd Party Enforcer may inspect the caretaking of the pet(s) to ensure appropriate care is being provided.

  • Beneficiary Designation

    Please list the full names, addresses, and phone numbers of the individuals and/or organizations you wish to designate as your beneficiaries.

    The Trustee shall divide the principal, any undistributed income, and any property not specifically allocated according to your selected distribution method above (Per Stirpes & Specific Bequests or Per Capita & Specific Bequests) among the following named beneficiaries:

  • Children

    For the purposes of the Trust the children of the Grantor are as:

  • Exclusions

    If there are any individuals or organizations you wish to specifically exclude from receiving any distributions from your Trust, you may list them here along with a brief explanation. Please be as clear and detailed as possible to ensure your Trustee can carry out your wishes accurately.

    Only list exclusions below if applicable. If you do not need to exclude anyone, you may leave this section blank.

  • Assets to Distribute

    Specifics on items you want to bequest to your beneficiaries

  • Real Estate

    This includes primary residences, vacation homes, rental properties, and undeveloped land.

  • Investment Account(s)

    Stocks, bonds, mutual funds, and brokerage accounts

  • Retirement Account(s)

    Individual Retirement Accounts (IRAs), 401(k) accounts, and other qualified retirement plans

  • Life Insurance Account(s)

    Whole life, universal life, and other types of life insurance policies

  • Bank Account(s)

    Savings accounts, checking accounts, certificates of deposit (CDs), and money market accounts

  • Business Interest(s)

    Ownership interests in closely held businesses, partnerships, or LLCs

  • Safe Deposit Box Contents

    Contents of a safe deposit box, such as important documents or valuable items

  • Mineral Right(s)

    Ownership rights in oil, gas, or mineral deposits on land

  • Debts & Promissory Note(s)

    Mortgages, personal loans, and loans made to others

  • Intellectual Property(s)

    Copyrights, patents, trademarks, and royalties

  • Foreign Asset(s)

    Assets located outside the United States, such as foreign real estate or bank accounts

  • Autos, Boats, RVs

  • Personal Property

    Valuables such as jewelry, art, antiques, collectibles, and household items

  • Declaration of Appointment of a Guardian

    A "Declaration of Appointment of a Guardian" form is a critical legal document used by an individual, typically a parent or legal custodian, to designate a guardian for their minor child or children in the event of the individual's incapacity or death. This form is vital for estate planning, ensuring that the child is cared for by a trusted individual chosen by the parent or legal custodian, rather than by a court-appointed guardian.

    Purpose

    • Future Planning: It acts as a proactive approach for planning the future care of minor children, specifying who will be responsible for their personal and financial needs if the parents cannot do so.
    • Legal Authority: It grants the appointed guardian legal authority to make decisions on behalf of the minor child, covering areas such as education, health care, and general welfare.

    Key Elements

    Appointer's Information:

    Includes details about the parent(s) or legal custodian(s) making the appointment.

    Guardian's Information:

    Specifies the person (or persons) being appointed as the guardian, including their relationship to the child.

    Child's Information:

    Details about the child or children for whom the guardian is being appointed.

    Conditions for Appointment:

    Outlines the specific circumstances under which the guardianship will take effect, typically at the appointer's incapacity or death.

    Alternate Guardian:

    Allows for the designation of an alternate guardian if the primary appointed guardian is unable or unwilling to serve.

    Signatures:

    Requires the appointer(s)' signature and, depending on the jurisdiction, may also require witness signatures or notarization to ensure its validity.

    Importance

    The importance of this document for parents or legal custodians is immense. It offers peace of mind that their children will be cared for according to their wishes, potentially avoids contentious guardianship battles in court, and facilitates a smooth transition of caregiving responsibilities.

    Recommendation

    Consulting with a legal professional when creating a Declaration of Appointment of a Guardian is highly recommended. A lawyer can provide advice tailored to your specific situation and ensure that the document complies with local laws, addressing any nuances or specific requirements of your jurisdiction.

  • Optional Form

  • Medical Power of Attorney (MPA)

    A Medical Power of Attorney (MPA), also known as a healthcare power of attorney or durable power of attorney for healthcare, is a legal document that enables an individual (the principal) to designate another person (the agent or attorney-in-fact) to make healthcare decisions on their behalf should they become incapacitated. This document is essential for health care and estate planning, ensuring that the principal's medical and personal care preferences are honored during times of incapacity.

    Key Features

    Selection of an Agent:

    The principal appoints a trusted individual as their agent, who is then authorized to make healthcare decisions in accordance with the principal's wishes and values when the principal is unable to do so.

    Scope of Decision-Making:

    The MPA details the extent of decisions the agent can make, which may range from routine medical care to end-of-life choices, including decisions on surgical procedures, treatments, nursing care, medication, and life support withdrawal.

    Effective Date:

    The MPA typically becomes effective when a physician declares the principal unable to make their own healthcare decisions or under specific conditions outlined in the document.

    Legal Requirements:

    The execution requirements for an MPA vary by jurisdiction but generally involve the principal being of sound mind at signing, witnessing by non-agent adults, and possibly notarization.

    Durable Nature:

    Its "durable" characteristic means the MPA remains valid even if the principal becomes incapacitated, differentiating it from a general power of attorney, which is typically nullified by the principal's mental incompetence.

    Living Will Coordination:

    An MPA is often executed alongside a living will, which delineates the principal's specific medical treatment preferences under certain conditions, with the agent ensuring these directives are followed.

    Importance

    Autonomy in Healthcare:

    It guarantees that the principal's healthcare preferences are acknowledged and considered, offering a definitive guide for loved ones and healthcare providers.

    Prevents Conflicts:

    By explicitly designating a decision-maker, it can mitigate family disputes over healthcare decisions.

    Comprehensive Care Planning:

    It facilitates detailed planning for potential healthcare scenarios beyond what a living will can cover.

    Recommendations

    When considering an MPA, selecting a trustworthy agent who understands and is willing to advocate for your healthcare wishes is crucial. Detailed discussions about your healthcare preferences with your chosen agent are recommended, along with periodic reviews and updates to your MPA to reflect any changes in your health or preferences. Given the legal variances in MPA regulations by location, consulting with a legal expert familiar with your jurisdiction's healthcare laws is advisable to ensure the document's validity and effectiveness.

  • Optional Form

  • Authorization for Disclosure of Protected Health Information (PHI)

    An "Authorization for Disclosure of Protected Health Information" (PHI) is a legal instrument that permits healthcare entities to release a patient's confidential health data to a designated third party, as specified by the patient. This directive is regulated under the Health Insurance Portability and Accountability Act (HIPAA) of 1996 in the United States, which establishes protocols for safeguarding sensitive patient health details.

    The fundamental objective of this authorization is to guarantee the privacy of an individual's health records, allowing disclosure only with the patient's explicit consent.

    Key Components:

    Specific Identification of Information to be Disclosed:

    The document must explicitly delineate the particular data permissible for disclosure, ranging from an all-encompassing medical history to precise record types like laboratory results or mental health documentation.

    Name of the Individual:

    The authorization needs to unambiguously identify the person whose information is to be shared.

    Identification of the Recipient:

    The authorization should clearly designate the authorized recipient of the disclosed information, whether it be another healthcare provider, a family member, an insurance company, or any other third party.

    Purpose of the Disclosure:

    The reason for the information sharing must be stated within the authorization, which can vary from a general "for medical treatment" to a more specific "for insurance claims processing."

    Expiration Date or Event:

    The document should indicate a specific expiration date or event post which the authorization becomes invalid. This could be a particular date, the occurrence of a specific event, or upon meeting a certain condition.

    Right to Revoke:

    The authorization should inform the individual about their right to retract the consent at any point, barring instances where actions have already been initiated based on the given authorization.

    Signature and Date:

    It is imperative for the authorization to bear the signature and the date of the consenting patient or a legally authorized representative if the patient is incapacitated.

    Importance:

    The Authorization for Disclosure of PHI is pivotal in preserving patient confidentiality while facilitating the necessary exchange of medical information for treatment, billing, or personal usage. It ensures patient autonomy over their health information and the contexts in which it can be utilized.

    Legal Requirements:

    Under HIPAA regulations, covered entities (including healthcare providers, health plans, and healthcare clearinghouses) must secure such authorization for any usage or sharing of PHI not directly related to treatment, payment, or healthcare operations, except as explicitly allowed or mandated by the Privacy Rule. The authorization must be drafted in clear, understandable language to ensure patients grasp their rights and the scope of consent they are providing.

    Recommendations:

    Patients are advised to meticulously review any Authorization for Disclosure of PHI form prior to endorsement to fully comprehend the extent of information being disclosed, the recipient(s), and the purpose behind it. For any uncertainties or queries, consulting with the healthcare provider for further clarification or seeking legal advice is recommended. It is also prudent to retain a copy of the signed authorization for personal records and future reference.

  • Optional Form

  • Statutory Durable Power of Attorney (SDPOA)

    A Statutory Durable Power of Attorney (SDPOA) is a legal document that enables one person (the principal) to delegate authority to another person (the agent or attorney-in-fact) to act on their behalf in managing their financial and property affairs. The "statutory" aspect indicates that the form and its powers are defined and regulated by state law, while "durable" denotes that the power of attorney continues to be effective even if the principal becomes incapacitated, ensuring uninterrupted management of the principal's affairs without needing court intervention.

    Key Characteristics

    Durable:

    The durability clause ensures that the agent's authority persists even if the principal becomes mentally incapacitated, unlike a nondurable power of attorney, which would cease under such conditions.

    Statutory:

    Being "statutory" means it is established under and governed by state law, with many states providing specific statutes that offer a standard form recognized legally, which individuals can complete to create a valid SDPOA.

    Financial Decisions:

    An SDPOA generally encompasses a broad spectrum of financial powers, such as buying or selling property, managing bank accounts, investing, contract negotiations, and handling tax issues. These powers can be tailored to suit the principal's needs and preferences.

    Revocability:

    The principal retains the right to revoke or amend the SDPOA as long as they are mentally competent.

    Execution Requirements:

    Creating a valid SDPOA varies by state but typically involves the principal being of sound mind, witnessed signings, and notarization. Additional requirements may apply in some states.

    Importance

    An SDPOA grants individuals control over who will manage their financial affairs if incapacitated, offering peace of mind. It avoids the need for court-appointed guardianship, which can be time-consuming, expensive, and public. The document's flexibility allows principals to specify the agent's powers and the conditions under which they are exercised.

    Recommendations

    When drafting an SDPOA, selecting a trustworthy, reliable, and financially astute agent is crucial. Discussing the responsibilities with the chosen agent ensures they are prepared and willing to act in the principal's best interests. Consulting a legal professional is advisable to ensure proper execution and compliance with state laws. Regular reviews and updates to the SDPOA are recommended to reflect changes in life circumstances.

  • A Few Last Thing

  • CLIENT DISCLAIMER

    Please carefully read and understand the following before proceeding with the preparation of your Revocable Trust by Fintech Umbrella LLC (the "Document Preparer"):

    Document Preparation Service:

    The Document Preparer is not an attorney and cannot provide legal advice. The services offered by the Document Preparer are limited to document preparation and assistance based on the information you provide. It is your responsibility to seek legal advice if you have questions or concerns about the legal implications of your Revocable Trust.

    No Attorney-Client Relationship:

    The use of the Document Preparer's services does not establish an attorney-client relationship. Communications with the Document Preparer are not protected by attorney-client privilege, and the Document Preparer does not represent you in any legal capacity.

    Not Legal Advice:

    Any information, guidance, or explanations provided by the Document Preparer should not be considered legal advice. It is recommended that you consult with a licensed attorney to address any legal questions or concerns you may have regarding your Revocable Trust.

    Review and Verification:

    You are responsible for reviewing the documents prepared by the Document Preparer for accuracy and completeness. It is your duty to ensure that all information provided is accurate and that the document meets your specific needs and objectives.

    Changes and Amendments:

    If you wish to make changes or amendments to your Revocable Trust document, you should consult with a qualified attorney to ensure that the modifications are legally valid and properly executed.

    Limited Scope:

    The Document Preparer's services are limited to document preparation and assistance. The Document Preparer does not provide ongoing legal representation or advice beyond the document preparation process.

    Not a Substitute for Legal Counsel:

    The services provided by the Document Preparer are not a substitute for professional legal counsel. Legal matters can be complex and may require personalized legal advice to address all potential issues.

    No Guarantees:

    The Document Preparer does not guarantee the validity, enforceability, or suitability of the Revocable Trust document for your specific circumstances. The ultimate responsibility for the document's adequacy and compliance with applicable laws rests with you.

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