There are several important documents that should be included in any estate plan to help ensure the estate planner has a comprehensive estate plan that will take care of their family and beneficiaries. Comprehensive estate planning can provide important peace of mind for the estate planner and should be thoroughly considered.
The first estate planning document that should be included in an estate plan is a will. A will provides for how the estate planner wants their property to be distributed to their beneficiaries. There are various requirements for a will to be valid so it is essential for estate planners to know what those requirements are where they live. A living trust is also a useful estate planning tool that can help estate planners avoid the costly and lengthy probate process.
In addition, two types of documents can help provide for circumstances when the estate planner becomes incapacitated and is unable to direct their financial affairs or medical care for themselves. A durable power of attorney can designate a trusted individual to direct the estate planner’s financial affairs if they are unable to do so.
Likewise, a living will or advance healthcare directive can include the estate planner’s medical care wishes if they are unable to direct their medical care at any point.
A complete estate plan can make things easier for surviving family members by clearly stating the wishes of the estate planner. A variety of estate planning tools and documents can help estate planners accomplish an estate plan that reflects their wishes and provides peace of mind for them and for their families during a difficult and emotional time.
