Wondering where to start as you consider creating an estate plan? Thinking through this short and sweet checklist will give you a solid foundation for your estate plan:
Beneficiaries: Who will get your assets when you pass away? Friends, family, charities?
Specific Gifts: Do you have any special items such as family heirlooms or jewelry that you would like certain individuals to receive after you pass away?
Trustee: Who will manage assets on behalf of your children if you pass away while they are young?
Executor: Who do you trust to distribute your assets as you have spelled out in your will?
Financial Representative (POA): Who should make decisions regarding your finances and other personal business if you become incapacitated?
Health Care Representative (POA): Who should make medical decisions on your behalf if you become incapacitated?
Living Will: If you are in a terminal state as determined by a physician and unable to make decisions on your own, would you like to receive life-prolonging care, or would you prefer to receive comfort care only?
Best wishes for a safe and happy holiday season to you and your family!