Four Critical Documents for your Estate Plan

The four critical documents for your Estate Plan include:

  1. Trust
    • Provides mechanism and assets for you during life and during incapacity
    • Provides assets during life of surviving spouse
    • Distributes after life of both of you to your ultimate beneficiaries
    • Does all of this without need of probate
  2. Durable Power of Attorney
  3. Pourover Will
    • A backup Will that only leaves things to your genuine estate plan: your Trust
    • A just-in-case measure in the event you acquire a major asset that needs to be probated (after your death) into your Trust
  4. Living Will
    • While not a mandate or enforceable contract,
    • It tells others, including your medical attorney-in-fact (named in your DPOA) that you do not wish to be maintained by life support machines if you do not really have a prognosis of recovery to your quality of life

These are Four Critical Documents for your Estate Plan. This does not cover all the bases, but these are the basics.

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