Estate Planning Documents
ESTATE PLANNING IMPORTANT DOCUMENTS
Last Will and Testament- Name an administrator or executor who will handle your estate after you die. It also directs that person to distribute your property in a certain way.
A Power of Attorney- Gives a person, known as your agent, legal authority to act on your behalf. You can specify certain powers that they have, and others that they don’t. A power of attorney can become effective immediately or upon your incapacitation. You may be able to revoke it at any time, as long as you are not incapacitated. If something happens to you and you do not have a Power of Attorney, your loved ones might have difficulty handling your affairs for you. Parents may grant power of Attorney to their children to represent them if they become ill.
A Power of Attorney for a child- This gives a person authority to act on behalf of a minor child if their parents die or are incapacitated.
Living Trusts- This creates a new legal entity to hold property for a person. When that person dies, the living trust can distribute the property to their heirs, or beneficiaries, more quickly than the probate system.
WHAT YOU MUST HAVE :
Power of Attorney + Notary
A Power of Attorney grants legal permission for another person or organization to act on your behalf if you're not able to do so.
2.
Last Will and Testament
A Last Will and Testament allows you to communicate your wishes and make things easier for the people that you leave behind.
3.
Living Will
This document allows you to declare your wishes regarding the withholding or withdrawal of life-sustaining procedures and make healthcare decisions for you in the future.
4- A trust
