Making various estate planning arrangements helps relieve your loved ones of a considerable burden upon your passing. By stating your wishes in unambiguous and legally binding terms, you can mitigate all kinds of disputes during the subsequent probate proceedings. If you’re unsure how to get started or what your estate plan should include, use the following checklist.

4 Pieces to Include in Your Estate Plan

1. Last Will & Testament

If you draft only one estate planning document, it should be a last will and testament. This is the foundation of every comprehensive estate plan. In a will, you can name an executor, assign guardianship of minor children, bequeath property to beneficiaries, and state your funeral and burial preferences.

2. Living Will

As the name implies, a living will can go into effect while you’re still alive. Also known as a health care declaration, this document states preferences regarding end-of-life care should you ever become incapacitated. Living wills are usually accompanied by powers of attorney, which grant someone the authority to make medical decisions for you.

3. Beneficiary Designations

Including beneficiary designations on all applicable accounts makes it considerably easier for loved ones to access various assets after you pass. Accounts that allow for beneficiary designations include bank accounts, retirement plans, and life insurance policies.

4. Durable Power of Attorney

A durable power of attorney lets someone else make legal and financial decisions on your behalf. This arrangement also applies in the event of incapacitation. Without one, your family could face significant hurdles to carry out what they know you would want.

Lance S. Cox, Attorney at Law, is proud to help clients make strategic estate planning arrangements so that they can protect their families in all eventualities. Practicing out of Cincinnati, OH, this seasoned lawyer has more than three decades of experience in the legal field. By focusing on estate planning, corporate law, and tax law, he helps individuals and businesses navigate financial transactions. To request a consultation,  call (513) 528-6000. Explore his areas of practice online.