4/24/2024 0 Comments Estate planning checklist![]() If your papers are in a bank safe deposit box, keep copies in a file at home. For added security, you might consider getting a fireproof and waterproof safe to store your documents. You can set up a file, put everything in a desk or dresser drawer, or list the information and location of papers in a notebook. Put your important papers and copies of legal documents in one place. These documents are part of advance care planning, which involves preparing for future decisions about your medical care and discussing your wishes with your loved ones.ģ. Having a health care proxy helps you plan for situations that cannot be foreseen, such as a serious auto accident or stroke. A proxy can be chosen in addition to or instead of a living will. Your proxy - also known as a representative, surrogate, or agent - should be familiar with your values and wishes. A durable power of attorney for health care names your health care proxy, a person who can make health care decisions for you if you are unable to communicate these yourself.You can say which common medical treatments or care you would want, which ones you would want to avoid, and under which conditions each of your choices applies. A living will tells doctors how you want to be treated if you cannot make your own decisions about emergency treatment.The most common advance directives include a living will and a durable power of attorney for health care. ![]() Many people choose to prepare advance directives, which are legal documents that provide instructions for medical care and only go into effect if you cannot communicate your own wishes due to disease or severe injury. A living trust names and instructs a person, called the trustee, to hold and distribute property and funds on your behalf when you are no longer able to manage your affairs.Ģ.A durable power of attorney for finances names someone who will make financial decisions for you when you are unable to. ![]() If you do not have a will, your estate will be distributed according to the laws in your state. A will can also address care for children under age 18, adult dependents, and pets, as well as gifts and end-of-life arrangements, such as a funeral or memorial service and burial or cremation.
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