Mistakes in Creating Wills
One of the biggest mistakes people make when estate planning is stopping after they create their Last Will and Testament.
The Last Will and Testament is a great start to an estate plan and if you have effectively designated your wishes for distribution of your estate assets. There are a couple of other tools that help to complete your estate.
The first is a financial power of attorney which will allow someone to pay all of your bills and take care of your property while you are incapacitated. Next two documents go hand in hand, they are a Health Care Power of Attorney and a Living Will, the Health Care Power of Attorney allows a person that you designate to make decisions regarding your health care when you are incapacitated and unable to make those decisions.
The Living Will is basically your instructions for the Health Care Power of attorney with regard to your wishes. The best example of this is when you are on life support and incapacitated.
Most people have clear wishes as to whether they want to remain on life support, be removed from life support, or rely on the advice of two or more concurring doctors.
To read more about this issue read the article in the link below:
https://www.forbes.com/sites/bobcarlson/2018/02/21/7-big-estate-planning-mistakes-part-1/#5394a6555d06