While each individual and family has different needs, there are some standard estate planning documents everyone should think about. These documents include a last will and testament, power of attorney, healthcare surrogate, and a trust. Each document serves a different purpose, and your estate plan may require some or all of them.
Last Will and Testament
One of the estate planning documents most individuals need is a last will and testament, more commonly known as a will. Your will outlines what you wish to happen to your property after you pass. It can also make your wishes known as to burial instructions and guardians for your minor children (though it should not be the only way to provide for those guardians).
Power of Attorney
Your power of attorney delegates powers to an individual who can act on your behalf. You can make your power of attorney very broad, or limited to specific acts. These powers are typically related to finances, but can also cover other circumstances. You are in control of how much authority is granted to your agent.
Healthcare Surrogate
Your healthcare surrogate may make healthcare-related decisions for you if you become incapacitated. They may also be allowed to access your medical records, depending on the authority you grant them.
Estate Planning Documents in Florida
It is important that you understand your estate planning documents before signing them. You want to ensure your wishes are outlined properly and that you are not giving any power that you do not wish to give. If you have questions, need to draft your estate plan, or revise an old estate plan, contact an attorney today.