Crucial Estate Planning Necessities To Consider:
- Establishing your estate requires three fundamental documents, beginning with your will, which designates where you want your assets to go when you pass and allows you to indicate who your executor will be. It can also provide for children, guardianship, and trust issues.
- A healthcare proxy designates a trusted person who will make health-related decisions if you become incapable of making those decisions and includes instructions as to how and what types of decisions your proxy is to make.
- Third is a power of attorney. This is important and should be a durable power of attorney so that it stays in place if you become incapacitated. That way, someone you trust will take care of your bills and household expenses – and will make certain your income is properly accounted for and deposited into your account.
- Health Care proxies can be very limited or very broad. They give another person authority to act on your behalf just as you would if you were able to do so.
When making an estate plan, it is very important to have all your bases covered. Make sure you’ve covered these estate planning necessities. Contact our experienced Buffalo estate planning attorney Randy H. Gugino to help protect your legacy. He offers confidential consultations and has over 30 years of experience.