Friday, March 7, 2014
When you plan for important life decisions it is solid advice to ask for help from a professional. Having your estate plan should rank high on the list of priorities because not having an estate plan in order can bring chaos. Generally, there are four document must haves that will help keep your estate plan in order.
- Financial Power of Attorney- This appointed person should be someone you trust to make financial decisions on your behalf.
- Will- This document is the heart of the estate plan which indicates the disposition of your assets in the manner that you want them distributed.
- Living Will- This document spells out what medical treatments you want or do not want in case you become unable to make those types of decisions.
- Medical Power of Attorney-This document appoints the person who will make your medical decisions if you can not.
See Michael Mullis, Four Essential Estate Planning Documents Every Business Owner Should Have , Birmingham Business Journal, Feb. 28, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.