Must-Have Estate Planning Documents

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Trust and Estate Forms and other Legal Forms topics.

What are the most important estate planning documents?

Must-Have Estate Planning Documents

Regardless of your financial or family situation, trust and estate planning is a very important component of fiscal and personal responsibility. Many people associate estate planning with deciding how your assets will be divided in the event of your death. However, estate planning involves much more than drafting a Last Will and Testament.

It is certainly a good idea to have a Last Will and Testament for the purposes of clearly establishing your wishes regarding property division. However, estate planning should also involve naming someone to make medical and/or financial decisions on your behalf if you become incapacitated. Another important component of estate planning is documenting your wishes regarding medical interventions if you ever become terminally ill or permanently incapacitated.

The following estate planning documents are important parts of any estate planning checklist:

  • Last Will and Testament
  • Living Will
  • Power of Attorney
Completing the proper estate planning documents doesn't have to be expensive or difficult. The Estate Plan Bundle from Rocket Lawyer is a great tool for making sure that you have all the bases covered when it comes to estate planning.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Legal Forms Tip Site? Request a Tip Now!


Guru Spotlight
Ray Lokar