Page 5 - ESTATE PLANNING

F i n a n c i a l P o w e r o f A t t o r n e y

M u c h l i k e a h e a l t h c a r e p o w e r o f a t t o r n e y , a f i n a n c i a l p o w e r
o f a t t o r n e y i s a d o c u m e n t t h a t i s a c t i v a t e d w h e n y o u a r e n ' t

a b l e t o m a k e f i n a n c i a l d e c i s i o n s f o r y o u r s e l f . I n t h e
d o c u m e n t , y o u ' l l d e s i g n a t e a p e r s o n t o m a n a g e y o u r f i n a n c e s

o n y o u r b e h a l f . I f p o s s i b l e , y o u ' l l w a n t t o s e l e c t a d i f f e r e n t
p e r s o n t h a n y o u r h e a l t h c a r e p o w e r o f a t t o r n e y , a s i t c a n b e
b u r d e n s o m e t o m a k e b o t h m e d i c a l a n d f i n a n c i a l d e c i s i o n s f o r

a l o v e d o n e . W h o m e v e r y o u s e l e c t , m a k e s u r e i t i s s o m e o n e
y o u t r u s t a n d m a k e y o u r f i n a n c i a l w i s h e s k n o w n t o t h e m

a h e a d o f t i m e .

Estate Planning Checklist

Make a list of your assets and debts--everything that contributes to your net
worth.

Gather important supporting documents--marriage certificates, divorce papers,

insurance policies, business agreements, property deeds, vehicle titles, and bank
account information. Any usernames or passwords associated with these assets

are helpful as well. Place these important documents in a secure location and
make sure your executor knows where they are stored!

Choose your power of attorney and/or executor, medical and financial power of

attorney, the executor of your will, and any trust trustees.

Draft your estate planning documents (the Big Three). Consider hiring a
professional estate planner or attorney as every state may have specific

documents and rules to consider, especially for larger estates.

Talk with your family. Informing your friends and family who will be impacted by

your estate ahead of time is very beneficial. It can prevent surprises, family stress,
and clarify any questions while you're still here to answer them.

Plan to review your documents regularly--every three to five years or after any

significant life event.