Going Out On Your Own Terms: Six Key Documents In An Estate Plan

Published Wednesday, May 26, 2021 at: 9:26 PM EDT

Everyone’s estate plan is unique, but these six documents are key in ensuring your final wishes are carried out and you end life on terms you have set out. 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.  They may be enabled to buy or sell personal property, for example, or...

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This article was written by a professional financial journalist for new michael mcdonald and is not intended as legal or investment advice.

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