Three Key People You’ll Need as Part of Your Estate Plan

The parties that you select to serve in important roles in your estate plan can make a big impact on making things easier for you or your loved ones in the event that the cornerstone estate planning documents need to be activated.

Three of the most important people you can select to serve as part of your estate plan include your durable power of attorney agent, your health care power of attorney agent and a guardian. If you’ve drafted a will, you’ve already named an executor or the person who will handle the administration of your estate after you pass away.

An important component of your estate, however, is including these three other parties who will take care of aspects while you are still alive. A durable power of attorney agent steps in to make financial decisions for you if you are permanently or temporarily unable to do so. Your healthcare power of attorney agent makes medical decisions on your behalf if you are permanently or temporarily unable to come to those decisions on your own. This might be the same person who serves in your durable power of attorney agent role.

Finally, you’ll need to name a guardian who will be responsible for your minor children. The guardian will raise your children and make key decisions about their activities and lives. Carefully consider the right person to potentially serve in each one of these roles and verify that the party you select is willing and able to serve in this role. These documents need to be drafted with the support of an experienced estate planning attorney in NH.

 

 

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