Planning Briefs
5 Key Documents In An Estate Plan
Published Monday, July 25, 2016 at: 7:00 AM EDT
To do a job right, you need the proper tools. And while each and every estate plan is unique, these five documents are often integral elements:1. Financial power of attorney. This document authorizes an "attorney-in-fact" to act on your behalf in financial matters. The most common power of attorney, a "durable" one, remains in effect if you're incapacitated. Another variation, which is known as a "springing" power of attorney, transfers control to the designated person only if you're incapacitated.The attorney-in-fact may have broad powers, able to buy or sell personal property, for example, or the role may be limited to...
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