Let’s face it – planning for how we want our assets and affairs to be handled after our death is an unsettling thing. Most of us put it off as much as possible.
But as we enter 2015, the time is perfect for getting these affairs in order. If you’ve established your will, you should consider the following according to Bryan Cave LLP:
- Assess life changes since you last updated your estate planning documents
- Review your will and/or revocable trusts
- Review your financial power of attorney
- Review your healthcare power of attorney and living will
- Review beneficiary designations on any insurance policies and retirement plans
If you haven’t even established any of these things, it’s better late than never. Here are 8 essential documents you will need according to estate planning lawyers:
- 1. Last will
- 2. Revocable living trust
- 3. Financial power of attorney
- 4. Medical power of attorney
- 5. Living will
- 6. Organ donation
- 7. Appointment of temporary guardians for your children
- 8. First responders