![]() ![]() Financial statements: Like your insurance policies, gather information about all your financial accounts, including your bank, savings accounts, retirement accounts, credit card accounts, loans, investment portfolios, and tax returns.Insurance policies: You’ll want to gather copies of any insurance policies you have, including life, health, home, and car insurance.if you’re unable to make those decisions yourself. Advance health care directive: An advance directive, also called a living will, allows you to outline how decisions should be made regarding your medical care - including medication, treatment options, end-of-life care, etc.Power of attorney: A power of attorney (POA) is the legal authority you give to someone else to make financial, medical, or legal decisions on your behalf should you become unable to do so.Irrevocable trusts are not as flexible and do not allow you to alter or terminate the trust unless you obtain a court order and unanimous consent from the trust’s beneficiaries.Revocable trusts allow you full control over your assets while you’re still alive, meaning you can change or terminate the trust anytime.Trust: A trust is a legal arrangement that allows you to place property, including money, real estate, or any other valuable asset, into the care of another person, which will be distributed to your beneficiaries at some point after you die.You can also name an executor, guardians for minor dependents or pets, and any specific funeral wishes, like if you want to be cremated or buried. Will: A will is a legal document that details how you want your assets distributed to beneficiaries after your death.The most common estate planning documents include: Much of the estate planning process involves creating and maintaining specific documents. ![]()
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