![]() ![]() The process involves creating legal documents describing how to distribute your assets after you die, who you want to make your medical and financial decisions, and who should be your childrens guardians. Creating an estate plan can help preserve your financial legacy. It includes resuscitation, sustaining your quality of life, pain management and end-of-life care. Summary of Money’s estate planning checklist. ![]() This document instructs medical staff how you want them to handle your health-related decisions, if you’re unable to choose or communicate. A healthcare power of attorney also allows a person to make healthcare decisions, if you’re unable to do so.Īn advance healthcare directive. Note that when establishing this document, you should have a conversation with your power of attorney agent, so if called upon, he or she will have a good understanding of what they can and can’t do financially for you. With a financial power of attorney, you can give as much or as little power over your financial affairs as you want. A medical power of attorney can also help a loved one take care of healthcare decisions on your behalf. A financial power of attorney can help, if you’re incapacitated and unable to manage your finances or pay your bills. This document permits you to give a person the ability to take care of your affairs while you’re still alive. If you do nothing else in planning your estate, at least create a last will, so you don’t die intestate and leave the decisions to the courts.Ī Power of Attorney (POA). a last will instructs the way in which your assets should be distributed.Įveryone needs a last will, even if it’s a very basic one. This is the cornerstone of your estate plan. However, ask your estate planning attorney about what else you may need in your specific circumstances.īankrate’s recent article entitled “Estate planning checklist: 3 key steps to making a successful plan” says there are three things you need in every good estate plan: last will, a power of attorney and an advance healthcare directive – and each serves a different purpose. Here are the main items you need in an estate plan. A basic estate plan can be fairly straightforward to create with the help of an experienced estate planning attorney. ![]()
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