Family Finance: Estate planning - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Family Finance: Estate planning


Planning for the future can be challenging, but making sure your estate is in order crucial to protecting your assets and preventing stress for your loved ones after you're gone.

According to experts at Fox Business, Forbes, and LegalZoom there are a few key documents to have completed in advance. 

First, fill out a last will and testament. It's simply a document stating where you want your assets and property to go after your death. Another option instead is a living trust.

Next, you need an advanced medical directive. It states your healthcare preferences if you fall ill and who can make medical decisions for you. 

Experts also suggest having a HIPPA release. This allows you to choose who can access your medical records. 

A financial power of attorney gives someone the ability to designate a person to manage your estate. If you're unable to do so yourself. 

Be sure to visit with an attorney and accountant, to make sure you pick the best options for your family.

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