What is the biggest mistake people make when putting together an estate plan? We forget that an estate plan should not only be about writing a will to decide who gets our assets when we die, but it should also be, possibly more importantly, about handling our personal affairs while we are still alive in the event of incapacity.
A recent piece in Forbes outlines a concise list of documents to consider creating in addition to a will when setting up your estate plan. These include:
- Medical Power of Attorney
- Living Will
- Durable Power of Attorney
- Revocable Trust
- HIPAA Release
- Organ Donation Authorization
Don't forget, your estate plan should not just take care of others - it should also take care of you!