Estate and Legacy Planning is not only for the wealthy! It is for everyone, no matter your net worth. As we approach the end of the year, we encourage you to think about your legacy planning goals. We can help you create a diversified and comprehensive estate plan.
Every estate plan should have, at a minimum, the following three (3) documents.:
•Durable Power of Attorney: a document that allows you to appoint an agent to handle your financial affairs and sign legal documents on your behalf in the event you are no longer able to do so yourself due to illness or incapacity.
•Advance Health Care Directive (also known as a living will): a document that allows you to designate an agent to make health care decisions on your behalf if you are unable to do so due to incapacity.
• Last Will & Testament : a document that distributes your assets to the beneficiaries after your death.
In assessing your legacy planning goals, consider the following three (3) questions:
- Whom do you want to designate as your executor to manage your Estate?
- Whom do you want to designate as your Agent to engage in financial transactions on your behalf?
- Whom do you want to designate as your Agent to make medical decisions on your behalf?