Estate Planning 2019
People will often think that they have an Estate Plan, if they have a Will. They don’t. They just have a Will. That’s just one document.
There are some other documents which they likely require as well, including:
- A Power of Attorney for Assets
- A Power of Attorney for Personal Care
- A Will for Probate
- A Will for Assets not requiring Probate
- A Will for Extra-Jurisdictional Assets
- Guardianship Appointment
- Transfer of Real Property
- Trust Agreement
- Escrow Agreement
I do appreciate that was 10, but the average person will require at least six.
HINT: obtain legal advice!
Note: every lawyer who does estate litigation wants you to write up your own documents after you have found them on the internet.
Don’t do it. It’s complicated. A mistake will costs thousands and may cause aggravation among the people you wish to benefit from your estate. Have an overall plan. A Will kit only provides you with one of the many documents you require.
Brian Madigan LL.B., Broker