Estate planning doesn’t have to be fancy, expensive or complicated. And it’s not just for millionaires and movie stars. You still want to do it right, and you should turn to a professional to make sure you have the following documents drafted correctly.
- Draft a will. Name an executor/executrix to execute your wishes and distribute your assets and if you have minor children you should name a guardian for them.
- Sign a Durable Power of Attorney. This lets you to appoint an individual to act on your behalf legally and financially if you are incapacitated.
- Health Care Proxy. This lets you to select someone to make medical decisions for you if you are unable to make them. You need to have a discussion with the person you ask to be your proxy about how you feel about death, dying, and life support. Make sure they understand that this is about you and your wishes-not about what they think is right.
Talk to an experienced estate planning attorney, create a sound estate planning strategy, and keep Cousins Vinny and Itt out of the plans.
