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Estate Planning Documents There are several documents that make up a standard estate planning package. Each document addresses a specific aspect of a persons preparation of establishing their desires for not only their property, but also for their person. The following documents are recommended to be included in all estate planning packages:
A will sets forth what a person wishes to do with their estate when they pass away. It sets forth who will get what items, who will distribute them, who will care for any minor children, and any administration issues of the estate. Many times a will is drafted in conjunction with a trust agreement, and at the time of passing away, the will can pour over into the trust any items that are part of the estate but not included in the trust.
Power Of Attorney Document:
A power of attorney document appoints an Attorney-in-Fact for a person, for both personal and business purposes. It allows the Attorney-in-Fact to make decisions for the person.
Preneed Guardian Document:
The preneed guardian document names a guardian for a person when that person becomes deemed incapacitated and is unable to make decisions over their property and person.
Healthcare Surrogate Document:
By establishing a designation of a healthcare surrogate, a person gives the named surrogate the power to enter into medical related decisions for that person, when they are unable to do so themselves.
When a person executes a living will, it sets forth the type of treatment that the person desires in the situation of a terminal illness. Many times it provides for the denial of life-prolonging procedures, and is combined with the healthcare surrogate document.