There are a lot of estate planning documents that people can have, but not everyone needs every single one. It really depends on each person's unique circumstances. However, there are some estate planning documents that everyone should have no matter what.
Video: 2 Most Essential Estate Planning Documents You Should Have
#1. Last Will and Testament
One of the most important estate planning documents is a Last Will and Testament. This document lets you specify how you want your assets to be distributed after you die. Without a Will, the state will decide how to distribute your assets, which may not be in line with your wishes.
#2. Power Of Attorney
Another important estate planning document is a power of attorney. This document gives someone else the legal authority to make financial and medical decisions on your behalf if you become incapacitated. Without a power of attorney, your family will have to go to court to get someone appointed as your guardian, which can be a long and expensive process.
These are just two of the estate planning documents that everyone should have. While you may not need every estate planning document out there, these two are essential for everyone.
