LEGAL GUIDE
Written by attorney Marivel Madamba Zialcita | Mar 26, 2019

Secure Your Legacy: The 9 Essential Estate Planning Documents You Need

Estate planning is an important activity that everyone should take very seriously. While many people still believe the myth that estate planning is only for the wealthy, it actually provides benefits to people of all classes. Regardless, having the right legal documents in place is critical.

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A Power of Attorney is a document where you grant another party (called an agent) the right to make certain decisions on your behalf when you aren’t able to make them for yourself. There are two main types of Powers of Attorney, which are: • Medical Power of Attorney – A medical Power of Attorney will allow another party to make all your medical decisions if you are unable. If you have an accident and are unconscious, they would decide what (if any) treatment you would receive. They are obligated to act in your best interest, but will have quite a bit of leeway. Choosing someone who you trust to make the same types of decisions that you would is very important. • Legal Power of Attorney – The person who is granted Legal Power of Attorney will be the one who makes all legal and financial decisions on your behalf if you are unable. This would include managing your investments, deciding where you should live, buying things on your behalf, and much more. You can name the same person or group to be both the medical and legal Power of Attorney. You can also choose either an individual or an organization to give Power of Attorney. Get the Help You Need... Estate planning can get quite complicated, and it is very important that everything is handled properly. When done correctly, however, estate planning can help you protect your estate, minimize the taxes that need to be paid, and keep your estate out of probate court when the time comes. Contact us to go over your current situation and see what you need to get started.

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