Estate planning interview checklist how to#

HIPPA Release: A few years ago the federal government passed legislation that would protect a person’s healthcare information. Access our other articles about creating a Healthcare Directive here. This document also directs for ongoing medical treatment in the event of terminal illness, and whether life support is desired when terminally ill. This document designates an attorney-in-fact, or agent, who will be allowed to make health care decisions for you if you become incapacitated at some point.

Estate planning interview checklist how to#

To learn more about how to use a Durable Power of Attorney to plan your future, click here.Īdvance Healthcare Directive: A document that gives another person the power to enforce a person’s medical wishes and desires should they become incapacitated and not be able to express their wishes themselves. At the time of death, the Power of Attorney can no longer be used. The Durable Power of Attorney is good until the time of death. The power of attorney takes the place of a costly, court-supervised conservatorship. If at some point a person becomes incapacitated and can no longer take care of themselves, the person designated as their financial power of attorney will have the power to make financial decisions on their behalf. This document will appoint an attorney-in-fact, or agent, who will be allowed to run a person’s business, and all of their financial affairs, including but not limited to money management and bill paying. To access other articles on our website covering the subject of Revocable Living Trusts in California, click here.įinancial Power of Attorney: This estate planning document gives another person the power to handle a person’s finances, business, and personal affairs if they become incapacitated. This document will name another person as the trustee of their estate and will also appoint one or more successor trustees, guardians, and beneficiaries, and address all other concerns they may have about how their estate is handled. Living Revocable Trust: An estate planning document that enables a person’s estate to bypass probate (a court proceeding), thereby saving time and money in distributing their estate. We have many other articles on our website covering the subject of Wills in California. If a person’s assets are in excess of $166,250, your estate may need a Probate proceeding. It also permits a person to name beneficiaries, set up support trusts for minor children or other dependents, and choose when and how gifts of their property will be given. This document will name an Executor, the person who will handle the decedent’s assets after their death. Will: Document that describes how to distribute a person’s property after their death.

You also may want to check out our list of common terms used in wills and trusts in preparation for planning your estate and Inestopedia’s 6 estate planning must-haves. The following information will enable you to have a better understanding of the various types of estate planning documents available and their purpose. Our estate planning services are tailored to each individual’s needs. Overview of Key Estate Planning Documents

If you have more than a modest estate, your estate plan may consist of a Revocable Living Trust, Pour-over Wills, Durable Power of Attorney for Property Management, Advance HealthCare Directive, HIPPA Release and, if you have minor children, a Nomination for Guardian of Minor Children. Some of the more routine estate planning documents include a Will, Durable Power of Attorney for Property Management, Advance Health Care Directive, HIPPA Release, and if you have minor children, a Nomination of Guardian for Minor Children. There are several essential California estate planning documents that can be used to protect your estate so it can be properly administered if something happens to you.