ESTATE PLANNING ESSENTIALS
Medical Power of Attorney
Through this document you can give another person the legal authority to make important healthcare decisions on your behalf in the event that you become incapacitated. This document can detail any directives you need to provide that will dictate what your wishes are in this scenario to your doctors.
Financial Power of Attorney
Through this document you can give another person legal authority to make important financial decisions on your behalf and also to take action on your behalf to manage your finances including bills, accounts, and transactions in the case you become incapacitated. You can limit this in the amount of authority you provide your "agent" as designated or in the scope of its application to your assets.
Revocable Living Trust
A trust is a separate entity that is established for the administration and management of your assets. This is a key document used to avoid probate which can be costly, time consuming, emotionally draining for your family, and non-private as probate is public record. This estate planning tool can serve to manage your assets while you are alive and after death while avoiding probate.
Pour Over Will & Testament
A will communicates your wishes of how to manage your assets after your death. With a will you may be still subject to probate as multiple interested parties in your family may want to oversee the distribution of your estate under the eye of a judge as all parties interpret your will. It is important to work with a lawyer to ensure that your wishes are drafted into the will clearly and precisely.