What Assets Make Up My Estate
Your ‘estate’ is made up of all the property you own. This can include:
- Houses
- Cars
- Clothing
- Land
- Jewelry
- Investments
- Retirement accounts
- Cash
- Savings
What is an Estate Plan?
There are 5 main components of an estate plan:
- Wills or Trusts. Both of these are legal documents that state where the distribution of your property or assets will go.
- Financial Power of Attorney (POA). A legal document that explains who will handle your financial affairs.
- Medical or Healthcare Power of Attorney (POA). This document designates who will make your healthcare decisions if you are unable to do so.
- Living Wills. This legal document gives you the opportunity to lay out your medical wishes or preferences.
- Beneficiary Designations. Your plan should also consist of who your beneficiaries are, and what they will be receiving responsibility for.
Work With a Lawyer to Create Your Simple Will
IDG Legal provides legal assistance to members in creating their Simple Will for free. For more information or immediate assistance, fill out a form by tapping below.
