The ‘Other’ Estate Planning Documents —
What Basic Estate Documents Should You Consider?
Do you have a Complete Estate Plan?
When talking about Estate Planning, almost everyone thinks about a Last Will & Testament. This is a very important document and is often a core document in a Basic Estate Plan.
However; there are are several other basic estate documents you should consider when preparing your Estate Plan.
Take a look at the advantages of:
Powers of Attorney
- Establishing a powers of attorney is inexpensive.
- You can decide who should make decisions on your behalf if you are unable.
- You control whether your agent has general or specific power.
- The document can require the agent to become bonded or to give an account of his or her transactions.
Living Will
- Provides you with the authority to reject medical treatment.
- Provides your family and health care professionals a clear description about the types of treatments you wish to have.
- Prevents arguments among family members.
- Prevents your family from going through the strain and difficulty to decide to keep you alive or not.
Non-probate transfers
Avoids expense of probate
- Avoids delay of probate.
- You can change beneficiaries or revoke transfers at any time, retaining full control of the property throughout your lifetime.
- No risk to you or co-owners.
A complete Estate Plan will allow you to breathe a sigh of relief knowing your future is secure.