A comprehensive estate plan ought to be designed to avoid probate, save on estate taxes, select someone to act for you if you end up being handicapped, and protect properties if you need to move into an assisted living home.
A will is just one aspect of a total estate plan. All estate strategies must likewise include a long lasting power of attorney. A trust works to avoid probate and handle your estate throughout your life and after. Medical regulations and recipient designations are supplements you must think about.
Power of Attorney
Specific trusts can help donors receive Medicaid, result in tax advantages both for the donor and the recipient, or be used to protect property from lenders.
These documents designate someone you select to make health care choices for you if you are unable to do so, and instruct your healthcare supplier to withdraw life support if you are terminally ill or in a vegetative state.