Estate planning is probably not how you want to spend your weekend. But it’s one of those things you need to do before it’s too late. Every adult should have these four documents:
- A will. This legal document lets you, rather than the state, decide how your estate will be distributed. Having one helps your heirs avoid hassles and costs and will give you peace of mind.
- A durable power of attorney. This document lets you delegate power to handle your financial affairs if you become disabled or incapacitated.
- Advance directives. This is a term for health care directives, living wills, and health care powers of attorney that allow you to state your preferences for health care if you become physically or mentally unable to make decisions. Do this so your family doesn’t have to agonize over decisions.
- Letter of instructions. This informal document outlines special requests you want carried out. It’s a good way to clarify your intentions.
You can prepare these documents yourself, but you’re better off having an attorney do it. An attorney can advise you on regulation changes and discuss other documents, such as trusts, you may want to have. If you need an attorney who can guide you in the right direction contact me at www.choicehomeshawaii.com | 888-988-6248, and I can refer one to you.