Estate Planning Basics

Usually, for couples or individuals who have reached the ages of 55 and older to complete a basic estate planning, the following four documents are highly recommended: Wills, Durable Powers of Attorney for Finances, Durable Powers of Attorney for Health Care and Living Wills.

These four documents should work together seamlessly to take care of both you and your estate. Wills are the most common document and almost everyone understands them (they are used to pass along your estate and your legacy). The other three are used to round out the needs of an estate or family.

Note: Trusts are often needed to provide for diferent needs or wants that are not allowed in any other estate plans.

Wills

Durable Powers of Attorney for Finances

Durable Powers of Attorney for Health Care

Living Wills

At our office we offer a “package discount” when all of the documents are prepared together because we believe strongly in the importance of having these documents to take of both you and your estate. It is also advisable to either have all of the documents prepared together, or with the attorney’s knowledge of the other documents so that all of the documents can work together in a seamless unity. Feel free to call me with any questions.

Note: Though less understood by the public, Various trusts and especially Revocable Living Trusts (RLT’s) are used to satisfy the needs and desires of of a family and their estate. Trusts are often a necessity to provide for different needs or wants that wills simply cannot provide for. Trusts should also work seamlessly with all other estate planning documents.