Estate Planning – Understanding the Terminology

When putting together your estate plan, your mind likely envisions putting together your Last Will and Testament, however there are several documents that comprise a complete estate plan. Working with an experienced estate planning lawyer, such as those at Bienstock Law, can help you understand the terminology and navigate the process of constructing a complete estate plan. 

Generally, when we talk about  “estate planning documents,” we are referring to the following four documents:

Last Will and Testament 

This document directs the disposition of your assets after your death and includes, among many other provisions, how you want your property distributed, who you want as your personal representative (Executor), and even who you nominate to be guardian of your minor children.  Without a will, the intestate laws will determine these very personal decisions.

Power of Attorney

This document gives someone legal authority to act for you and legally sign documents on your behalf when you are not able to.

Medical Power of Attorney  

This document allows you to name someone to make health care decisions for you in the event you’re medically unable to.  This may include authorization to be admitted to the hospital, to undergo medical tests, have surgery, or even measures of pain relief.

Advance Directive

Also known as a living will, this document specifies what actions you wish to have taken if you are brain dead, but your body can be kept “going” with machines, tubes, and/or intravenous hydration.

Discuss Your Estate Planning Documents With the Experienced Lawyers at Bienstock Law

If you do not have these estate planning documents, or if you have documents that no longer reflect your wishes, give us a call.  Unfortunately, we never know in advance when these documents will be needed.

We also recommend other documents and checklists to help you get your affairs in order, e.g., what family members and others need to know about you, what you have, where it is kept, what your wishes are, etc.  We can help with this as well. To learn more about how the estate planning lawyers at Bienstock Law can assist you in your case, contact our office today.