A will is a valuable estate planning tool in that it provides an official roadmap for carrying out a person’s wishes after they have passed away. Having a will provides clarity; not having a will promotes chaos.
A financial power of attorney allows a person to designate whom they would like to act on their behalf for financial matters if they cannot act for themselves.
A health care directive allows a person to designate whom they would like to act on their behalf for health-related matters if they cannot speak for themselves. Our healthcare directives also contain living will provisions.
A trust is different form a will in that assets inside a trust are passed to heirs outside of probate court. Trusts may also shield assets from bankruptcy.
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