Making an estate plan is not just about scribbling down who gets what in a will. That’s just one part. If you’re trying to lock things in, to protect what you’ve worked for and make sure your wishes stick, you’ll need more than that.
There’s a set of estate planning documents that work together. Each one plays its part. Miss one, and things could get messy later. So, here’s what a comprehensive estate plan typically includes.
- Last Will and Testament
The last will and testament is your final say. It tells who gets what and who looks after your kids, if needed. You also name someone to handle everything when you’re gone.
- Living Trust
With the living trust, you move assets while you’re still alive. It helps your family skip probate and lets you control how and when things get passed on.
- Power of Attorney
If you can’t manage your money, this lets someone you trust step in, pay bills, handle taxes, and deal with banks, without needing the court.
- Healthcare Directive
A healthcare directive covers medical decisions. If you can’t speak for yourself, it tells doctors what to do. You also pick someone to make those calls for you.
- Updated Beneficiary Designations
It’s a small detail, but a big deal. The names you’ve listed on your insurance or retirement accounts? They come first, even before your will. So, it’s worth going back and making sure they still match what you want now.
Put all these pieces together, and you’ve got a plan that covers your money, your health, and the people you care about. Not sure where to begin? Contact us at Miles Franklin Law, where we handle estate planning that can really help clear things up.