Why Estate Planning Documents Are Important

Just starting out or much further along, life happens. 

That’s why it is important to have your estate planning documents in place and up-to-date. 

If you can’t make healthcare decisions, the Advanced Healthcare Directive lets people know who you’ve chosen to make those decisions for you. 

If you can’t manage your finances, the Durable Power of Attorney for Asset Management states whom you’ve chosen to take over for you.

It is only in force when you are alive.

A living trust, also known as a revocable trust, also helps with management of your assets as well as specify how your estate is to be distributed at your passing bypassing probate and ensuring privacy.  

For simple estates, a will specifies how your estate is to be distributed at your passing but must go through probate which may be time consuming and costly. 

Getting your estate planning documents in place or updated is not as complicated as you may think. 

However, not having these documents is place could be painful, costly and time consuming for your family when something happens. 

We suggest you speak with an estate planning attorney rather than trying to do it yourself.