Every so often it’s helpful to sit down and review your existing estate planning documents. Ideally you will have stored a copy of these with your estate planning lawyer and also have copies for yourself. Regular review of your existing estate plans can help you to determine when you need to incorporate additional planning goals.
The five key documents that should at least be considered in your conversation with an experienced estate planning lawyer include a durable power of attorney, a will, an advanced medical directive, a letter of instruction, and a living revocable trust.
A durable power of attorney assists you if you become mentally or physically incompetent to handle financial matters. A will is a desirable cornerstone of your estate plan if you are over age 18. Advanced medical directives give instructions about medical treatment you would want if you are unable to speak for yourself and a letter of instruction as a non-legal and informal document that is used to express your preferences and thoughts in conjunction with other estate planning tools. Finally, a revocable living trust could be something you discuss with your estate planning lawyer.
September 17, 2019 |
Every so often it’s helpful to sit down and review your existing estate planning documents. Ideally you will have stored a copy of these with ...
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As you grow older and are concerned about the future of a child with disability, the future can seem overwhelming or even daunting. Thankfully, sitting ...
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A significant legal battle could hold more information for others approaching the estate planning process. The last will and testament of Jeffery Epstein was dated ...
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We all know in the back of our minds that at some point in our lives we might have to sort through a loved one’s ...
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Many well-known career fields are often associated with important asset protection planning. From lawyers to doctors and others with substantial wealth, it’s important to think ...
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The baby boomer generation is bringing to light some of the most common challenges with long-term care and future planning. Since it’s expected that many ...
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Not all assets belong in a trust, and knowing the difference can help you make the right choice for your assets. The easiest way to ...
Learn MoreAugust 27, 2019 |
Planning ahead for potential incapacitation, Medicaid use, and estate planning all feel inherently personal. In fact, they hit so close to home that plenty of ...
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