Five Documents At The Core Of An Estate Plan
Every estate plan is unique because of a particular family's circumstances. Still, most people share many primary objectives that may be reflected in five documents often found at the core of a plan.
If your current estate plan doesn't include these five items, you might need to fill the gaps. And if you don't yet have a comprehensive estate plan in place, it's probably time to make that a priority. Mortality can sneak up on anyone.
1. Financial power of attorney: A power of attorney is a legal document that authorizes another person to act on your behalf. A financial power of attorney enables the "attorney-in-fact"—the person specified to act for you—to conduct your financial affairs. Many states have a standard form for financial power of attorney.
© 2021 Advisor Products Inc. All Rights Reserved.
- 10 Common Questions On Social Security Benefits
- Plan For Retirement At Different Stages Of Life
- Are You Still On Target For A Secure Retirement?
- Stronger Than Expected Jobs Creation But CNBC Reports "Trouble Lurked"
- S&P 500 Returned 2.9% In 2nd Quarter And 9.2% In First Half Of 2017
- Despite Distractions, Demographics Are Poised To Drive U.S. Long-Term Growth
- Live Longer And Prosper In Your Golden Years
- The Federal Reserve's Historic Economic Experiment Entered A New Phase
- Despite The Washington Sideshow, Stocks Closed At A New All-Time High
- Confronted By Major Political Crisis, The U.S. Financial System Barely Blinked
- 5 Ways That Can Help You Pay For Higher Education
- Passing Down IRA Assets? Clue In Family Members
- Should You Fly Solo In Your Own 401(k) Plan?
- Despite The Circus In Washington, Stay Focused On Economic Fundamentals
- Trump Victory On Health Care And Strong Economic Data Push Stocks To New All-Time High