An estate plan typically includes several important documents to ensure your wishes are carried out in the event of your passing or incapacitation. These documents often include:
Will: A legal document that outlines how you want your assets distributed after your death and names an executor to carry out your wishes.
Trust: A legal arrangement that holds and manages your assets for the benefit of certain individuals or entities.
Power of Attorney: Grants someone the authority to make financial decisions on your behalf if you cannot do so.
Advance Healthcare Directive: Also known as a living will, or healthcare proxy, this document outlines your medical preferences and designates someone to make healthcare decisions for you if you're unable to.
Beneficiary Designations: These apply to assets like life insurance policies, retirement accounts, and payable-on-death accounts, specifying who receives these assets upon your death.
Our Colorado Springs estate planning attorneys can help you draft your documents ensuring they are legally binding and meet your intentions.