Estate planning can be stressful. However, knowing what to expect can make the process much easier. While every estate plan will look different, there are some general documents that everyone should consider. Read on to learn more.
What documents should I include in my estate plan?
- A will
- A will is one of the most important documents you can create. A will declares how your assets should be divided in the event of your passing. Anyone over the age of 18 who owns any property should create a will.
- A trust allows you to put assets aside for a certain amount of time. In some cases, there are assets that should be left out of a will, but included in a trust. There are numerous types of trusts, including charitable trusts, special needs trusts, pet trusts, and more.
- Power of attorney
- Through a power of attorney, you can choose a loved one to act on your behalf in the event that you are unable to do so. This individual can sign legal documents for you, make important financial decisions, and more.
- Advance healthcare directive
- Everyone has different wishes when it comes to their end of life care. This is where an advance healthcare directive comes into play. With an advance healthcare directive, you can:
- Authorize loved ones to obtain medical records in emergency situations
- Set the standard for determining your incapacity
- Communicate your wishes to receive or not receive life-saving care
- Ensure decisions are made in accordance with your beliefs, principles, or religious practices
- Any additional healthcare wishes or concerns
- Digital assets
- You may not realize it, but some of your most important assets may be digital. In today’s day and age, it is important to consider your digital assets. This may include online bank accounts, social media accounts, digital photos, and more.
If you have any questions or concerns about the estate planning process, our firm is here to help. We will walk you through the process every step of the way and ensure that you go into the future feeling safe and protected. Contact us today to begin working on your estate plan.
Contact our Firm
Sometimes, divorce, family, and estate matters are difficult to navigate. Fortunately, they do not have to be with the assistance of a compassionate, knowledgeable attorney who is willing to guide you every step of the way. If you need a seasoned firm to help you with any divorce, family or estate-related matter, please do not hesitate to contact Collis, Griffor & Hendra today to schedule a consultation.