Create Your Estate Planning Documents
In many jurisdictions, you do not have to engage a lawyer to create your essential legal documents. Use this link to learn more and start generating these important papers.
Please note that if you have more complex or unusual situations, you may wish to have a paralegal or a lawyer review your documents to ensure that your intentions are clearly defined to protect you and your family.
What Does Estate Planning Include?
Some of the key documents commonly involved in estate planning include:
A will is a legal document that specifies how you want your assets to be distributed after your death. It allows you to name an executor to manage the distribution of your estate and appoint a guardian for minor children, if necessary.
Power of Attorney/Enduring Power of Attorney:
A power of attorney grants someone the authority to make legal and financial decisions on your behalf if you become incapacitated. It can be general or specific, depending on your needs. An Enduring Power of Attorney will cover your needs in the event you become incapacitated or deemed cognitively impaired.
Healthcare Directive (Living Will):
A healthcare directive outlines your preferences for medical treatment and appoints someone to make medical decisions on your behalf if you are unable to do so.
Trusts are legal arrangements that allow a third party, known as the trustee, to hold and manage assets on behalf of beneficiaries. Living trusts can be used to avoid probate and provide for the management of assets during incapacity.
Designate beneficiaries for your retirement accounts, life insurance policies, and other assets that allow for beneficiary designation. Keep these designations up to date to ensure your assets go to the intended recipients.
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