It seems like some estate planning documents should be easy for a regular person to create. However, as the Greek philosopher Socrates said, “You don’t know what you don’t know.” This is especially true when it comes to estate planning, says a recent article, “9 Legal Documents You Should Never DIY—Here’s When to Call a Lawyer” from msn. If you create documents and they aren’t legally sound and enforceable, your home-made solution could cause a mess for you while living and your heirs after you’ve passed.
Healthcare Proxy. Having a healthcare proxy document prepared allows someone you trust to make medical decisions for you if you cannot. A standardized form is just that—standard—and may not reflect your personal wishes. This document is also important for parents of young children, so a person you trust can make decisions for your children if you cannot.
Power of Attorney. The POA is used to appoint a person of your choosing to handle your financial and legal affairs if you become incapacitated. The agent’s powers end upon your death. An estate planning attorney will draft one reflecting your wishes and following your state’s laws.
Living Will. This document expresses your personal medical preferences if you can’t communicate. If your medical situation is dire and you are not likely to become conscious, it provides clear guidance for long-term care. Without this document, your loved ones will be left guessing what you would have wanted.
Revocable Living Trust. Assets placed into trusts don’t go through probate, remain private and pass directly to heirs as per the instructions in the trust. An estate planning attorney will tailor the trust to your situation during life and after death.
Beneficiary Designations. When you open an investment account or purchase life insurance, you can name a beneficiary. This is the person who inherits the account or receives proceeds on your death. Many estate planning mistakes occur because people don’t update their beneficiary designations. Note that the beneficiary designation overrides any will or trust, so be sure they are correct.
Business Succession Plan. If you own a business, this blueprint will be used to direct how the business should continue when you retire or after you die. It will address issues of leadership, family ownership and your vision for the business to continue in the future. It takes several years to create a business succession plan, and your estate planning attorney will work with family members, key employees, financial officers and CPAs to ensure a smooth transition.
Last Will and Testament. This document directs how you want your property to be distributed upon your death. Without a will, known as intestacy, your estate is distributed according to the laws of your state, usually by bloodlines or kinship.
Prenuptial or Postnuptial Agreements. While these documents are used in case of a divorce, they are sometimes used to support estate planning disagreements to clarify intentions. If you come to a marriage already owning assets, or if there is a big disparity in wealth, it makes sense to have an agreement in place.
Guardian Designation. If you have minor children, your last will and testament includes a guardian named to raise your children if both parents die or become incapacitated. An attorney is needed to be sure this is properly documented. Without a will naming a guardian, a court will decide who will raise your children.
Working with an experienced estate planning attorney protects your family, finances and future. Estate planning attorneys know what you don’t—covering all bases and preventing legal complications for you and those you love.
To learn more about estate planning in the East Valley, Gilbert, Mesa and Queen Creek, schedule your free consultation with Attorney Jake Carlson by using one of the links above.
Reference: msn (March 17, 2025) “9 Legal Documents You Should Never DIY—Here’s When to Call a Lawyer”