How old are you? Are you young enough to decide to make an estate plan or old enough to make updates or changes? No matter your age, there are certain items you should have in your estate plan to cover any eventuality.
Here are three documents to add to your estate plan.
1. Durable power of attorney for finances
A power of attorney gives someone you choose the right to make decisions for you if you ever become incapacitated. Depending on the responsibility you give this person, they can pay bills and deposit checks or manage your retirement accounts and file your tax returns.
2. Health care power of attorney
A medical power of attorney is a person chosen by you to make choices concerning your health. They will oversee your medical treatment and work with doctors and health care agencies to provide you with the care you would want to receive.
3. Living will
A living will differs from a conventional will because it outlines what you do and does not want before your death if you cannot communicate. It can detail the medical care you wish to receive and how to handle your finances. This will help the people you choose as your powers of attorney to make the correct decisions that benefit you.
These easily overlooked documents are simple to create, and without them, more pressure rests on your family and loved ones to figure out what they think will help you. Take the stress out of the decision-making by having your wishes written.
