Estate planning is highly personalized, and may involve a number a number of legal documents, including:
A Will, which is the document you use to direct the final distribution of your assets after death. Parents with minor children may use wills to designate the legal guardian of their child in the event that both parents are deceased.
A Revocable Trust, which is a means of holding assets so that the trust survives your death, thereby avoiding probate. In larger estates, revocable trusts are a major tool used to reduce or eliminate estate taxes.
An Advance Health Care Directive, which may be used to state your desire concerning future medical care (you want/ do not want artificial, life-prolonging techniques or procedures such as feeding tubes, if you are in a terminal condition without hope of recovery) and to designate someone to make medical decisions on your behalf if you become incapacitated.
A Financial Power of Attorney, which allows you to designate a trusted person to handle your financial affairs if you are not able to do so yourself.
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