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Metz, Bailey & McLoughlin, LLP provides
customized estate planning, probate,
and business law services to clients
throughout Central Ohio

Attorneys For Today,
Counselors For Life

Metz . Bailey . McLoughlin

CALL FOR AN ATTORNEY

    614-423-4619

Attorneys For Today,
Counselors For Life

Attorneys For Today,
Counselors For Life

Metz, Bailey & McLoughlin, LLP provides
customized estate planning and
business law services to clients
throughout Ohio

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Essential documents for all estate plans

On Behalf of | Jun 18, 2024 | estate planning | 0 comments

Estate planning isn’t just for the wealthy. It’s about ensuring your loved ones understand your wishes and carry them out after you’re gone.

Whether you are just starting your estate plan or are going to review an existing one, it is important to know which key documents you may want to include in it.

A will

A will is a legal document that outlines how you want your loved ones to distribute your assets after you die. It also allows you to name an executor, the responsible party who oversees the administration of your estate. Furthermore, you can also designate guardians for minor children and specify your preferences for charitable giving.

Durable power of attorney

A durable power of attorney appoints someone you trust to manage your finances if you’re incapacitated. This can be due to illness, injury, or simply aging. Choose someone responsible and familiar with your financial situation.

Healthcare power of attorney

A healthcare power of attorney allows a trusted individual to make medical decisions on your behalf if you cannot. This ensures your wishes for treatment are respected during a critical time.

Living will

A living will, also known as an advance directive, expresses your preferences for end-of-life medical care. This can include specifying whether you would want life support in certain situations.

Beneficiary designations

Many assets, such as life insurance policies and retirement accounts, allow you to designate beneficiaries who will receive the proceeds directly upon your death. This avoids probate court and ensures your wishes are followed.

Letter of instruction

While not a legal document, a letter of instruction can be a valuable addition to your estate plan. It allows you to communicate non-binding wishes and logistical information to your loved ones, such as funeral preferences, location of important documents, or even cherished family recipes.

It’s important to remember that every estate plan is different, because everyone has different situations. However, by understanding the basics and knowing which essential documents you may need, you can ensure that your loved ones know your wishes and that you can still protect them during a difficult time. 

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