If you have significant assets, debts, or any dependents, it’s vital to get your estate planning paperwork in order as soon as possible. If you don’t already have a will and other legal documents written and filed, you should meet with a lawyer to begin this process. Remember to cover all the following materials, so your wishes will be carried out as you intend them.

What to Cover in Your Estate Plans

1. Will & Trusts

A will is the main legal document most people think of when they imagine estate planning. It lays out instructions for dividing your property and outlines any trusts you establish. A trust is a legal entity which holds and administers assets; it is necessary if you want to place any rules or conditions on your beneficiaries’ inheritance. A lawyer will determine if you need one and help you put it in place.

2. Beneficiary Designations

This is the part of the will and estate documents which identifies the people who should inherit your property upon your passing. Be specific and thorough in these designations to avoid any claims from other individuals or confusion about your instructions.

3. Guardianship Designations

If you have children or other dependents who need adult guardianship at the time of your death, this document allows you to communicate who you would like to take on those duties. Speak with this person in advance to ensure they are willing and able to accept this responsibility.

4. Powers of Attorney

These legal documents give others the power to make decisions on your behalf if you are unable to do so—for instance, if comatose or after becoming mentally incompetent. A durable power of attorney gives the specified person the power to conduct all your affairs in your name, while a health care power of attorney relates specifically to medical decisions.

5. Letter of Intent

A letter of intent explains what you are trying to accomplish during estate planning with your lawyer and clarifies any points which may be unclear in the will or other documents. If the court becomes involved in administering your estate, this paperwork will guide their decisions according to your wishes.

If you’re ready to start the estate planning process, attorney Peter Bellotti of Bellotti Law Group, PC, in Boston, MA, offers quality guidance through every step of the process. He will ensure you have all the necessary paperwork to protect your legacy, best interests, and wishes. To arrange a free consultation with a lawyer today, call (617) 778-1000. You can also visit him online to learn more about his background and expertise in this practice area.