When beginning your estate planning, you may have a lot of questions about how the planning process works, and the decisions that you will have to make. We’ve outlined answers to common questions, as a way to help you feel more comfortable about your planning needs. Take a look at the following information, to learn more about estate planning. If you have any questions, or if you’d like to start your estate planning, contact an estate planning attorney.
What are some basic estate planning documents to consider?
There are many estate planning documents that you can use to create a full estate plan. In order to determine the documents and tools that you will use, you will need to consider your needs. This will allow you to plan so that you’re able to achieve your goals.
Consider using the following documents:
Will – This is one of the most important planning tools. It allows you to choose how your assets will be distributed to beneficiaries, appoint a guardian for the care of your minor children, and choose an executor who will be responsible for managing your affairs. Even if you choose to create a simple plan, a will should be included.
Healthcare Proxy– This document prepares you for possible medical emergencies. If you ever become incapacitated, you want to make sure that you have the support needed to handle your medical affairs. You can use this tool to appoint an agent, who will help make medical decisions on your behalf, and ensure that you’re receiving the best care possible.
Living will – A living will is another powerful incapacity planning tool. It allows you to outline your end of life treatment decisions ahead of time. This makes it possible for your wishes to always be respected, even if you’re unable to give informed consent.
There are many other estate planning tools and documents that can allow you to achieve your individual goals. Take a look at our next blog post (part 3 of 3), to learn more about estate planning. If you have any additional questions, or if you’d like to start your estate planning affairs, consult with a qualified estate planning attorney.