Thursday, June 2, 2011

Estate Planning Questions: "What Documents are Necessary for Everyone ?"

Estate planning questions: "What documents are necessary for everyone?"

In our series of articles responding to frequently asked questions about estate planning, we recently dealt with the question of who should have a Will. You can read that article below.

Today we tackle a different question, what documents are recommended for everyone regardless of their situation. Remember, the need for a Will is situation dependent. There are certain documents necessary that are not dependent on your situation.


Here are documents every person over 18 should have:

1. Durable Financial Power of Attorney.

This document permits your chosen person to deal with your money, property, bills and taxes if you are incapacitated.

2. Durable Health Care Power of Attorney.

This document permits the person you choose to deal with your doctors and medical care issues if you can't speak for yourself.

3. Living Will

This document sets forth your wishes if you are unfortunately in a coma as a result of a terminal disease or injury and you can't speak for yourself.

4. An estate planning assessment.

This is not a document, but a planning meeting with an estate planning attorney. This meeting is recommended so you can make sure you don't miss something else that may be required to protect yourself, your family or your property.

These are legal documents and should be pursued with appropriate legal advice and assistance.

Let me know what you think about this article and if you have a question that you would like to see us address. Thank you.

Bernie Greenberg

1 comment:

  1. Excellent read . This article makes the importance of having a properly drafted estate plan quite evident. A well-planned estate is a wonderful legacy you can leave your heir instead of untangling a messy estate, they can concentrate on mourning their loved one. Thanks for great sharing.
    planning consultants

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