Life gets busy and you buy a house, car, life insurance, and you set up a retirement plan. Next you need to clarify what will happen to your property and assets in the event of your death. Interview several estate planning attorneys to find one you trust and one who helps you understand your options.
A basic estate plan includes:
- Last Will and Testament: outlines your legacy and specifies who gets what.
- Durable Power of Attorney: names who can make financial decisions in the event you are no longer able to.
- Health Care Power of Attorney: grants authority to someone to make health care decisions for you. This document is sometimes called a Living Will or Healthcare Directive.
Speak with a licensed professional to make sure you have a plan in place.
Perhaps you have an aging parent who needs an estate plan. Use this simple list to make sure their plan is up-to-date.