The Big Five
There are five legal documents that every adult needs to sign, date, notarize and keep in a safe place. A Will. A Living Will. A Healthcare Power of Attorney. A Durable Power of Attorney. And a Revocable Trust. It’s hard to think about these things, and it’s easy to put off thinking about them, but it’s a big mess without them. So, if you haven’t already, do your survivors a favor and take care of these documents ASAP. Especially if you have kids.
The document that names your executor and the guardians for your children when you die. Tells how to handle your assets upon your death.
2. Living Will
The document that tells what you want to happen to keep you alive if you become terminal or permanently unconscious.
3.Healthcare Power of Attorney
The document that names the person you want to make medical decisions on your behalf.
4. Durable Power of Attorney
The document that names who you want to handle your financial issues if you become physically or mentally unable to do so.
5. Revocable Trust
The document that avoids the probate court process.