While thinking of death is not something pleasant, unfortunately, eventually, people die. And most of them leave something behind that will then be given to someone else. Estate planning is a vital matter that every adult should think of during their life.

Such planning includes a set of legal documents by which individuals decide on various important questions regarding their belongings. One such form is will, where a person who creates it thoroughly describes what estate goes where and in which proportion.

However, there are other documents included in estate planning that affect one’s daily life. The creation of all forms is a serious step, and it is recommended to complete such forms at some point in one’s life.

What exactly is included in estate planning?

Here are the forms one might complete during the estate planning process.

• Will

This document prescribes where an individual’s finances and properties will go after they pass away. Without such a form created during one’s life, all assets and money will be distributed in accordance with state law.

Another essential matter covered in a will is a person who will take care of one’s children when the subject dies. Also, it allows a signatory to appoint a responsible individual for all affairs after death.

• Living Will

If you are unaware of the difference between this form and the previous one, here is the answer: a living will regulate your healthcare decisions in case you are incapable of making decisions on your own (for instance, if you have survived a severe accident and are in a coma).

• Power of Attorney

This form is vital in many cases. Typically, it is used for financial matters: with the document, you can officially choose the person responsible for your funds and estate in case you are unable to make decisions or unavailable due to any other reason.

Besides a financial type, there are other forms like a power of attorney for a child, for real estate, a general one, and others. All these forms regulate different issues and let you select someone who will act on your behalf in various situations.

Why You Should Think about Estate Planning Today

There is no proven way to foresee the future and find out what will happen tomorrow, in a month, or within a year. Unfortunately, a person can face a severe disease or a harsh accident, and there should be the documents mentioned above that will give a hint about the person’s healthcare, children, tangible and intangible items, cash, and other matters.

The creation of such forms will make any situation easier for your beloved ones. To complete the procedure correctly, you can apply to a lawyer who will easily help you with the documents.

Another option is to find the forms and sign them by yourself with the help of different online resources that offer templates made specifically for each American state. Check your state law before you finish: for some forms, you will need a notary’s signature.