It can be confusing knowing where to begin when handling your estate planning affairs. If you’re wondering what documents and planning techniques you should utilize in your plan, take a look at the following checklist. This will help you to be better prepared for the future. If you have any questions, or if you’d like to begin your estate planning affairs, contact an estate planning attorney.
- Have you created a will? This is an important planning document that can address a number of issues. You can determine property distribution, appoint a guardian for your children, and appoint an individual to help handle your estate affairs. Without this document, you will have NO control over what happens when you die.
- Do you have a living will? This is a estate planning tool that allows you to have control over future end of life medical decisions. This document outlines your wishes regarding the use of end of life treatments and procedures. This can allow you to keep your loved ones from having to make difficult decisions or feuding at the end of your life.
- Have you created a power of attorney? This document allows you to appoint an agent to help make important decisions in the future. With a financial power of attorney, your agent can cash checks, pay bills, deposit money, and much more. With a power of attorney for healthcare, your agent can help to make important medical decisions during your time of need. He or she can also communicate with medical staff members and access your medical records. These documents are important in the event of incapacity. Without these documents, your loved ones may have to go to court to get the approval needed to assist you.
If you have any additional questions, or if you’d like to begin the estate planning process, consult with a qualified estate planning attorney. Be sure to check out part 2 of this Estate Planning Checklist article which will be posted later this week.
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