Contact us for a consultation! 702.731.2333

What are the tri-powers?

M&A has coined the name ‘Tri-Powers’ to represent the three most basic documents that are the first step in Estate Planning. The Tri-Powers consist of a General Durable Power of Attorney, Healthcare Power of Attorney and a Living Will. These documents are vital in protecting you and your family against incapacities that are certain to occur in life.

What is JTWROS-JOINT tenancy with rights of survivorship?

These are powerful words in the legal and title industries – almost magical. It means that if these words are present in the title of a document – the moment a co-owner dies, his/her ownership interest in that title vanishes with them. The surviving owner or owners get all of the decedent’s interests automatically and without probate. It’s a very efficient way to avoid probate – but a very dangerous legal potion, if these magical words are not used with knowledge and skill. Why? Because it is also a very efficient way of unknowingly disinheriting a loved-one or of giving Uncle Sam a gift called a gift tax or of giving a creditor a fast track to your assets even if it’s not your debt. Call us and ask about a Living Trust.

Contact us for a free consultation

Get started