It is never too early to plan for the future. Specifically, estate planning is highly important. Sorting out your assets now can save a lot of time, energy, money, and stress down the road. However, it can be difficult to know where to start with estate planning. Luckily, DaMore Law is here to assist. Let us take a look at 5 documents you need for estate planning.
Will and Testament
Essentially, a will lets you choose what happens to your possessions after you are gone. Additionally, this means you decide what is in the best interest of your children and/or pets. You can use your will to name the guardians of your children in the event of your passing.
Health Care Proxy
If you ever become incapacitated, you need someone you trust to be legally in charge of your medical decisions. This is where a healthcare proxy comes into play. If you are unable to communicate, this document becomes essential.
A living will makes everyone aware of your medical wishes should you be unable to communicate them. It provides valuable guidance for your healthcare agent when making difficult decisions, and helps prevent court battles over what decisions to make regarding life-sustaining treatment and your care.
Durable Power of Attorney
A durable power of attorney designates someone you trust to make financial decisions for you if you ever become unable to do so. Having this document in place is critically important so your loved ones do not have to seek court involvement to manage your affairs.
Much like the name implies, a living trust designates a “trustee.” This is someone of your choice to manage your property. A living trust can also save money on taxes in the long run.
With You Every Step Of The Way
These are just a few of the documents present in estate planning. At DaMore Law, we know the world of estate planning can be complex and intimidating. That’s why we always go above and beyond for you. We are eager to help you with everything from simple wills to detailed revocable trusts. Let’s uncomplicate your future together. Contact us today to learn more.a