What Documents Do I Need For Estate Planning? | Ep 212

Estate planning is an important process, but it can be confusing. What documents do you need? What's the difference between a will and a trust? Listen to this episode to learn more about estate planning and find out which documents you need to get started.

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Key Takeaways

• Estate planning documents to consider include a last will and testament, a durable power of attorney, an advanced medical directive, and a healthcare power of attorney.
• Trusts are helpful in managing financial assets or providing for dependents with disabilities.
• Beneficiaries should be set up on retirement plans and life insurance policies; these should also be reviewed periodically as circumstances change over time.
• TODs (transfer on death) should be established on bank accounts to keep money out of probate in the event of the owner's death.
• Funeral plans should include any specific wishes to avoid confusion when that time comes.

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