What Are The Necessary Estate Documents That Someone Would Need?

What Are The Necessary Estate Documents That Someone Would Need?

First, we have what we call Disability Documents.
1. Financial Power of Attorney – document appointing someone to make Financial Decisions.
2. Medical Power of Attorney – document appointing someone to make Medical Decisions.
3. Personal Care Plan – outlines long-term care decisions.

Then we need to figure out, what is our plan upon death?
And we are looking at 2 different documents.
1. Will – gives instructions to the Probate court.
2. Will and Trust – a Trust avoids probate, controls distribution, and gives additional protection. Protection from long-term care costs and Estate Taxes. Protection of the beneficiaries from divorce, creditors, bankruptcy.

You also don’t need a certain level of assets to do a Trust.
It’s all about, figuring what are your goals? then picking on the right tools.

Typically, the Legal documents that most people need are
1. Trust
2. Will
3. Financial Power of Attorney
4. Medical Power of Attorney
5. Personal Care Plan

Attorney and Financial Advisor Chris Berry of Castle Wealth Group answer questions on retirement and estate planning every Wednesday at 1pm. Register here https://bit.ly/2VaojOK​​​​​​ or give our office a call at 844-885-4200.

Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning, and tax planning from their offices in Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi.

Castle Wealth Group helps families with their legal, financial, and tax planning for their retirement and legacy.

With the use of legal structures like revocable living trusts, Castle Trusts (asset protection trusts), Chris Berry and Castle Wealth Group can help your family plan, protect, and preserve what is important through their Retirement and Legacy Blueprint Process.

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