Estate planning is something that’s never easy to do or even to begin thinking about for that matter. But it can help give you comfort knowing your estate and loved ones are protected after your death. Avoid missteps and get your affairs in order with these important documents:
- Last will and testament – states how you’d like your assets to be distributed and utilized following your death. It also allows you to designate an executor to make sure your assets are distributed in line with your wishes and to allows you to name guardian(s) for your minor children.
- Living will – provides your family and healthcare professionals with medical directives in circumstances in which you become terminally ill and need to be on life support.
- Durable power of attorney – allows you to appoint someone to manage the affairs of your estate, including financial, medical, or guardianship, if you are unable to manage them yourself.
- Living trust – similar to a living will and testament; however, it bypasses the costly and time-consuming process of probate and enables your “trustee” to carry out your instructions.1
Estate planning can be overwhelming, but it doesn’t have to be difficult nor do you have to go about it alone. Feel free to connect with our office. After understanding all the different documents essential to estate planning, we can help you weigh out your options and choose what’s best for your family. Remember, a well-thought-out estate plan can give you and your family not just financial protection but also a peace of mind.
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[1] https://www.legalzoom.com/knowledge/living-trust/topic/reason-to-avoid-probate