What are the essential estate planning documents everyone needs? by Ryan Gardner

When thinking about estate planning, it may seem confusing to determine what documents should be prepared.  But the truth is, with the assistance of an elder law attorney it’s quite simple. There are two different purposes of estate planning documents either to dictate the distribution and management of assets after death or assignment of authority to manage assets and decisions on behalf of someone who cannot do so for themselves.

The first essential document is a Will. This document will appoint a personal representative. This person will oversee the management of your estate and carrying out your final wishes. The Will also dictates what your final wishes are and can establish specific gifts you wish to leave anyone. The next essential estate document is a power of attorney. This document appoints someone to make financial and legal decisions if you are unable. Third is the appointment of a healthcare representative. This is the person who makes healthcare decisions for you in the event you are unable to do so for yourself. Finally, while not essential but very helpful for your care providers and family, is an advanced directive, which is often referred to as a Living Will.

Each of these documents play a specific and separate role for anyone’s planning needs. While none of these documents require the other, together they form the complete essential set of documents which anyone considering estate planning should have.