Protect Your Assets
Will
Trust
A trust is another way to direct how your assets will be allocated and to name a trustee who will handle your estate. However, unlike a will, a trust can help you avoid probate, maintaining your privacy after death. A trust is also a great tool to use for leaving money to a minor child and for outlining parameters for the use of funds for beneficiaries. There are many types of trusts, but one of the most common types is a revocable trust which allows you to maintain control of your assets and also to make changes to the document during your lifetime.
Protect Yourself
Power of Attorney
In the event that you become incapacitated, a power of attorney allows someone you have selected in advance to handle your affairs and make decisions for you. A general durable or financial power of attorney allows someone to act on your behalf with respect to your financial affairs, such as paying bills, managing bank accounts and other investments, filing taxes, and additional day-to-day matters. A medical power of attorney allows someone to act on your behalf with respect to your health care affairs, such as making medical decisions, interacting with your medical care providers, handling end-of-life care, and other health care matters.
Medical Directives
Medical directives allow you to outline your preferences on select health care matters, so that your medical power of attorney has some guidance from you when making decisions on your behalf.
Protect Your Children
Guardianship
Guardianship documents allow you to name another individual to step in and care for your minor child in case you are unavailable. Long-term guardianship appoints who would care for and provide for a minor child in the event that both parents were to pass away. Short-term guardianship addresses who would stay with or pick up a minor child in an emergency or temporary situation.