ESTATE PLANNING BASICS
A POUROVER WILL/PROBATE AVOIDANCE This “pours” assets into your trust upon your death, specifies how your property will be disbursed, and specifies who will be responsible for any of your surviving minor children. A LIVING TRUST/REVOCABLE Specifies how your assets should be passed on and helps your beneficiaries avoid the administrative burden, delays, public record, and the lack of privacy associated with the probate process. HEALTHCARE POWER OF ATTORNEY This enables you to empower a person to make health care decisions and express your medical treatment preferences on your behalf, thus preventing family conflicts and possible court intervention. A LIVING WILL This addresses deathbed concerns and establishes your wishes for life-prolonging medical care should you become incapacitated.
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