Chapter 9. Important Papers, Wills & Trusts Important Papers....................................................................................................................... 9–1 Wills........................................................................................................................................... 9–2 Estate Planning.......................................................................................................................... 9–3 Trusts. ....................................................................................................................................... 9–4 Health Care Decisions................................................................................................................ 9–5 Personal Record System............................................................................................................ 9–6 Location of Important Documents Worksheet............................................................................. 9–7
b. A power of attorney for both you and your spouse so that each of you has the ability (and the authority) to act on behalf of the other in routine affairs or emergency situations. It is also wise to have another power of attorney authorizing a third party to act in the event both you and your spouse are incapacitated. c. A copy of the birth and death certificates for all immediate family members. If you no longer have the originals, you should secure certified copies. d. At least one copy of your present marriage license, as well as a copy of any previous marriage licenses. e. At least one copy of any divorce decrees from previous marriages of you and your spouse.
9–1. IMPORTANT PAPERS. A significant part of implementing a sound financial plan is to prepare the documents necessary to put your plan into action. Equally important is the availability of adequate records so that your survivors can carry out your plan. Below is a recommended list of important papers and documents which you should prepare and keep up–to–date. It is wise to make a duplicate copy of both the list and all of your important papers and documents and let someone else know where they are located. a. A current will for both you and your spouse. It is important that someone other than you and your spouse knows where the originals (as well as copies) of these documents are located.
CHAPTER 9: IMPORTANT PAPERS, WILLS & TRUSTS
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