Estate and Legacy Planning

This topic is all about taking care of your estate so that when you fall ill or pass away your affairs are in order. Much of this planning must be handled by an attorney which I am not. Your Estate plan among other things should contain a Living Trust so your assets go where you want them too after your death. In many states having a trust and putting your assets in a trust helps you avoid probate. Probate is when the state decides where your assets go and it’s costly. In addition to an estate plan you’ll want to have both medical and financial powers of attorney. If you become incompacitated where you are unconscious, you fall ill to dementia, you’ll want to have your financial powers of attorney set up so you can determine what happens when you can’t make decisions for yourself and who you appoint to help facilitate this in your absence. In addition to financial powers of attorney you’ll want medical powers of attorney that determine what you want done or not done to your body medically.