Estate Plans have multiple components. The components used within your Estate Plan depend on your financial and personal circumstance along with how you intend for your assets to be managed while alive and deceased.
Regardless of your personal situation, an Estate Plan should have at a minimum:
Here is a quick definition of each of the elements of an Estate Plan:
A Living Trust
The document that states how your assets are distributed upon your passing.
This is a “safety net” to your Trust, If something is not within your Trust, you can specify how it is distributed within your Will.
If you are married, this document defines how property is characterized within your trust.
A Durable Power of Attorney for Property and Personal Affairs
This states how you wish for your property and personal affairs to be managed in the event of your incapacitation.
Your Advance Health Care Directives
This states who are your Health Care Agents and specifies instructions to an assigned Health Care Agent.
Authorization for Release of Medical Information
(HIPAA Waiver) This states who has authority to access your medical records.
Zoom Meeting Information
Samuel B. Ledwitz has been practicing Estate Planning Law for two decades.
He would like to introduce you to the basics of Estate Planning during an informational free upcoming Zoom session.
New sessions are being scheduled. Check back for updates:
Session 1 TBA
Session 2 TBA
During this session you can learn:
What is a proper Estate Plan
Why it is so important to have a proper Estate Plan
The do’s and don’ts of Estate Planning
Many other aspects of Estate Planning that could affect you