The Four (4) Essential Estate Plan Documents

There’s no such thing as a standard estate plan.  While there are plenty of websites that advertise a "one size fits all" package, the truth is the desires and circumstances of individuals and/or families necessitate custom estate plan documents.  However, there are four (4) documents that we believe to be essential to any estate plan.  At a minimum, every estate plan must include the following documents:

1. Last Will and Testament: a document that communicates your final instructions pertaining to your property and possessions.
2. Statutory Durable Power of Attorney: a document that authorizes another person to make decisions pertaining to your financial affairs in your place or when you can no longer handle them yourself.
3. Medical Power of Attorney: a document that authorizes another person to make medical decisions on your behalf when you are no longer able to make them for yourself.
4. Advance Directive / Living Will: a document that communicates your instructions to doctors and/or hospitals pertaining to the use of life sustaining treatment (i.e. life support) when you have been diagnosed with a terminal or irreversible condition.

While most plans will likely include additional documents based upon individual and/or family needs, these four (4) documents provide the framework for carrying out your wishes and safeguarding your assets in the event of incapacity or death.  Contact our office today and together we can begin building the framework of your estate plan.

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