Page 15 - Mumme Booklet
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DRAFT
ESTATE PLANNING IS FOR EVERYONE
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Estate planning is about getting assets to the right people, at the right time, in the right way with minimum
expense or delay. Regardless of the size of your estate, you have many tools that can help you – whether your
estate is small and simple or large and complex. Some of these tools can be used on your own and some may
need you to seek professional advice.
PLANNING FOR INCAPACITY ASSET PLANNING
DURING LIFE
• Who gets what when?
Health care directives Spouse, partner, children, charity
• Who should manage assets?
Health care power of attorney Executor and/or trustee
• Who should take care of dependents?
Guardian
Financial power of attorney
Beneficiary designations
Everyone should consider having these three TOD and POD designations
basic documents to help answer the question (Transfer-on-death, Payable-on-death)
''What if I need help making decisions?''
Will
Revocable trusts
These documents and decisions can help
answer the question ''What do I want to
happen to my assets?''
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This plan is not complete without the Assumptions and Disclosures pages appearing at the end.
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