Planning for your estate is a crucial step to protect yourself, your loved ones, and your future. Estate planning can cover sophisticated trust, tax, and estate planning, but each estate plan, at a minimum, should contain these five documents:

A will outlines how your assets should be distributed after your death and allows you to name a personal representative (executor) to handle your estate. If you have minor children, your will can also designate a guardian for them. Without a will, state law and the state decide who inherits your assets.

A POA gives someone you trust the authority to manage your financial and legal affairs if you become incapacitated. This document can help avoid the need for a court-appointed guardianship and ensures your bills, taxes, and other financial matters are handled without delay.

This document allows you to appoint someone to make medical decisions on your behalf if you’re unable to do so. Without it, your family may have to go to court to gain decision-making authority, delaying critical medical care.

A living will expresses your wishes regarding end-of-life medical treatment, such as life support and artificial hydration. It helps guide doctors and loved ones in making difficult decisions if you’re in a terminal or vegetative state.

This document lets you choose who should be appointed as your guardian if you become legally incapacitated. It can prevent family disputes and ensure that someone you trust is in charge of your care.

 

Having these five documents in place gives you control over your future and provides peace of mind for your family.