Estate Planning Key Components

Summary

Estate planning involves creating a will to specify asset distribution, establishing a trust to manage assets and potentially avoid probate, appointing a power of attorney for managing affairs if incapacitated, and setting up a health care directive to outline medical preferences.

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Estate planning
Estate planning is an important process to ensure your assets are distributed according to your wishes. Here are some key components:
- Will: Specifies how your assets will be distributed.
- Trust: Helps manage assets and can avoid probate.
- Power of Attorney: Appoints someone to manage your affairs if you're unable to.
- Health Care Directive: Indicates your medical preferences.
Would you like more detailed information on any of these components?