A thorough estate plan ought to be designed to avoid probate, save money on estate taxes, select someone to act for you if you become disabled, and safeguard assets if you need to move into a nursing house.
A will is only one element of a complete estate plan. All estate plans ought to also include a durable power of attorney. A trust works to avoid probate and manage your estate throughout your life and after. Medical regulations and recipient designations are supplements you should consider.
Power of Attorney
Specific trusts can help donors get approved for Medicaid, lead to tax advantages both for the donor and the beneficiary, or be used to secure property from creditors.
These documents designate someone you choose to make healthcare decisions for you if you are unable to do so, and instruct your healthcare supplier to withdraw life assistance if you are terminally ill or in a vegetative state.