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Components of a Comprehensive Estate Plan
An estate plan is not fully effective unless it is comprehensive. Finding out too late that something is missing could cause legal issues for your family. Here is what you need for a comprehensive estate plan. Wills Your will specifies the division of your assets after you die. It is the governing document that expresses your own wishes. Without it, the court would decide who gets what from your estate. This is perhaps the key piece of estate planning that nobody can be without. The will could also cover things like your funeral plan and your wishes for your children. Power of Attorney Your estate plan does not just take over when you die. It also helps your family as you are no longer able to make decisions. A power…