Developing an estate plan is crucial to ensure your wishes are carried out should you become incapacitated or pass away. Yet according to Caring.com, less than 35% of Americans currently have a plan in place. An estate plan outlines how your assets will be distributed after death and appoints guardians for any minor children.
At its core, an estate plan gives you control over what happens to your money, possessions, and dependents after you're gone. Without one, state laws dictate these matters, which may not reflect your desires. The key documents that make up a comprehensive estate plan include a Last Will and Testament, living trust, powers of attorney, and medical directives.
A Last Will and Testament is a legal document that allows you to specify how your property, assets, and possessions should be distributed after your death. It also allows you to name heirs and beneficiaries. A living trust is a legal entity that holds title to your assets for estate planning purposes. A trustee manages the assets on your behalf according to the trust terms either during your lifetime or after your death. Assets are transferred to beneficiaries outside of probate.
Powers of attorney appoint agents to handle your affairs if needed. A Financial Power of Attorney allows the agent to manage bank accounts, pay bills, file taxes, etc. on your behalf. A Medical Power of Attorney (Healthcare Proxy) allows the agent to make medical decisions and consent to or refuse treatment if you cannot communicate your wishes. Additional documents provide end-of-life medical wishes and guardianship instructions.
Proper execution and notarization of estate planning documents are necessary for them to be legally valid. A certified notary trust delivery agent from Boston Mobile Notary can meet with you to have your documents properly signed and witnessed. They can also refer you to an estate planning attorney to assist in creating customized documentation reflecting your unique circumstances and wishes.
Having your estate plan notarized verifies your identity and intent, establishing the documents' legal standing. This ensures your assets are distributed and affairs settled according to your desires after death. Contact Boston Mobile Notary to discuss how they can help you put an effective estate plan in place.
At its core, an estate plan gives you control over what happens to your money, possessions, and dependents after you're gone. Without one, state laws dictate these matters, which may not reflect your desires. The key documents that make up a comprehensive estate plan include a Last Will and Testament, living trust, powers of attorney, and medical directives.
A Last Will and Testament is a legal document that allows you to specify how your property, assets, and possessions should be distributed after your death. It also allows you to name heirs and beneficiaries. A living trust is a legal entity that holds title to your assets for estate planning purposes. A trustee manages the assets on your behalf according to the trust terms either during your lifetime or after your death. Assets are transferred to beneficiaries outside of probate.
Powers of attorney appoint agents to handle your affairs if needed. A Financial Power of Attorney allows the agent to manage bank accounts, pay bills, file taxes, etc. on your behalf. A Medical Power of Attorney (Healthcare Proxy) allows the agent to make medical decisions and consent to or refuse treatment if you cannot communicate your wishes. Additional documents provide end-of-life medical wishes and guardianship instructions.
Proper execution and notarization of estate planning documents are necessary for them to be legally valid. A certified notary trust delivery agent from Boston Mobile Notary can meet with you to have your documents properly signed and witnessed. They can also refer you to an estate planning attorney to assist in creating customized documentation reflecting your unique circumstances and wishes.
Having your estate plan notarized verifies your identity and intent, establishing the documents' legal standing. This ensures your assets are distributed and affairs settled according to your desires after death. Contact Boston Mobile Notary to discuss how they can help you put an effective estate plan in place.