Estate planning involves preparing the necessary documents to manage your assets and wishes in the event of incapacity or death. It’s important that the documents are properly notarized. Many people find this to be a difficult and emotional process but are relieved when it’s done because everything is organized and planned for in a way you choose. Here are some key documents commonly included in an estate plan:
- Will: Outlines how your assets will be distributed and names an executor to manage your estate.
- Trust: Can be used to manage assets during your lifetime and specify how they should be distributed after your death. Trusts can help avoid probate.
- Durable Power of Attorney: Designates someone to make financial decisions on your behalf if you become incapacitated.
- Healthcare Power of Attorney: Appoints someone to make medical decisions for you if you’re unable to do so.
- Living Will: Specifies your wishes regarding medical treatment and end-of-life care.
- Beneficiary Designations: For accounts like life insurance, retirement plans, and bank accounts, you can designate beneficiaries outside of your will.
- HIPAA Release: Allows designated individuals access to your medical information.
- Letter of Intent: Provides additional instructions or wishes to your loved ones, but is not legally binding.
- Guardianship Designations: If you have minor children, you can designate a guardian in your will.
- Asset Inventory: A document listing all your assets, liabilities, and important information.
Mindy Strum is a Certified Apostille Agent with 10+ years as a notary public in the state of Florida. Florida Notary Public, LLC DBA Apostille FLA provides apostille services from each state and the USDOS.
