Estate planning is not always the most pleasant matter to contemplate, but it may be one of the most important ones. After all, without an estate plan, one's property will be distributed via statutory intestate succession, which may or may not be according to one's liking. Because of this, one may want to take control of the reigns and decide what to do with their property after they pass away.
While many people initially think of wills and trusts when the topic of estate planning comes up, there are three other estate planning documents that deserve consideration. They are -- powers of attorney, health care directives and advance directives.
In a power of attorney, the creator will name a person to handle their personal and financial affairs should they become incapacitated. In a health care powers of attorney, a person will be given access to the creator's medical records and will be vested with the ability to make health care decisions for the creator should they be unable to do so themselves. Finally, in an advance directive, the creator can spell out their wishes regarding their medical care during their final days. Advance directives are also known as living wills.
When it comes to creating these and other estate planning documents, the help of our Rockville estate planning law firm can be very helpful. It is important that these documents are created with all the necessary formalities so that they are legally sound. By making one's intentions clear, one can avoid a lot of confusion and heartache down the road. To learn more about the different types of estate planning documents you can consider creating, please visit our website.