Essential Documents
Last Will and Testament
The cornerstone of estate planning that specifies how your assets should be distributed and who will be responsible for executing your wishes.
Lasting Power of Attorney
Allows someone you trust to make decisions about your finances and health if you become unable to do so.
Living Will
Outlines your preferences for medical treatment in case you become terminally ill and unable to communicate.
Key Considerations
Asset Inventory
Create a comprehensive list of all your assets, including property, investments, insurance policies, and personal belongings.
Beneficiary Designations
Regularly review and update beneficiaries on life insurance policies, pensions, and investment accounts.
Tax Planning
Structure your estate to minimize inheritance tax and maximize what you pass on to your loved ones.
Pro Tip
Store important documents in a secure location and inform your executor or trusted family member about where to find them. Consider keeping digital copies as backup.
Regular Review
Estate plans should be reviewed and updated regularly, especially after major life events such as:
- Marriage or divorce
- Birth of children or grandchildren
- Purchase or sale of significant assets
- Changes in tax laws
- Moving to a different country