In the living trust, it consists of sections. Starting with the certificate of trust, certificate of trust will be a basic summary of you trust but leaves out the details of what property is held in the trust and the identity of the beneficiaries. Its purpose is to allow a person to know the correct name of the trust and to be sure that the trust has power over its assets. Marital property agreement, refers to all possessions and interests acquired by a couple during the period of their marriage. Last will and testament, is a legal document that lets you, the testator, designate individuals to receive your property and possessions when you pass away. The main purpose of a will is to ensure that the testators wishes are to be followed upon death. Durable power of attorney, is a legal document that gives someone you choose the power to act in your place in case you ever become mentally incapacitated, you’ll need what are known as durable power of attorney for medical care and finances. Healthcare power of attorney, directive names someone that you trust to act as your agent if you are unable to speak for yourself.
