Three Documents You Need For Estate Planning

Many people put off estate planning because they aren't prepared to have every important document ready when needed, but you would be better served to focus on three main documents. As long as you have documents that outline the intended beneficiaries and your personal information relating to your financial status, you can start on the planning. The article below highlights the three groups of documents that you need for estate planning.

Your powers of attorney may look different, and go by different names, depending on your province. Still, these documents should provide another person with the ability to make decisions over your financial affairs and personal care in the event you’re unable to do so. These documents are effective while you’re still alive but can’t look after yourself (once you’ve died, your will becomes the key document governing your affairs). Again, look for an experienced lawyer to assist in preparing these documents.

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