What is Estate Planning?
Estate Planning is the process of designating someone to be able to access certain assets should you become incapacitated, or choosing how and when your assets should pass to the persons you choose after your death. Every adult should have an estate plan, no matter how simple or complex. You are never too young, and certainly never too old, to have the proper planning documents in place.
Estate Planning can consist of:
- Last Will and Testament,
- A Trust, in some situations,
- Powers of Attorney, including a Statutory Durable Power of Attorney (financial power of attorney), Medical Power of Attorney, and a Directive to Physicians and Family or Surrogates (a Living Will),
- HIPAA Releases, to provide access to medical information for various persons,
- Pre-Need Designation of Guardian,
- Pre-Need Designation of Mental Health Services,
- The List Goes On!