The Complete Estate Plan

John Kazary, Esq., CTFA, Vice President and Senior Financial Advisor, Univest Bank and Trust Co.

A complete estate plan should address the enjoyment of life in retirement, preparation for possible incapacity and the transition of property at death. These three issues are customarily addressed through some combination of the following documents: a testamentary will, an advanced health care directive (also known as a living will), a medical power of attorney, a general power of attorney and a living trust. These five legal documents can form the foundation of your estate plan. Your estate planning professional may also suggest additional documents tailored to your individual needs.

A revocable living trust is unique among these five documents in that it is a single legal document that is able to address all three estate planning issues. By naming a bank trust department as the trustee of your revocable living trust, you can create the legal and financial framework to help you enjoy your life in retirement, plan for possible incapacity and provide for efficient distribution of property at your death.

Many people find other uses for trusts. Trusts under will, for example, can provide asset protection along with professional financial management for heirs who don't have the time or ability to manage their inheritance. Special needs trusts can provide financial management for people with disabilities while preserving their ability to receive government assistance.

It is never too early or too late to start planning. A free, no-obligation conversation with one of our senior financial advisors is a good first step. Contact one at 215-799-2959 or via email at and give us the opportunity to get to know you and explore the best ways to secure your family's future.

Univest Bank and Trust Co. is Member FDIC.

Univest Financial Discovery Financial Discovery