Estate planning includes planning, with competent counsel, for the distribution of your property before and after your death to meet your wishes and may include planning for long term care. Proper estate planning incorporates many documents to enable you to minimize federal estate taxes and gift taxes, as well as income taxes for you and your loved ones.
Proper and up-to-date estate planning includes discussions regarding how your assets are held, how beneficiary designations, if any, should read on life insurance, individual retirement accounts, annuities and your other accounts.
A power of attorney is a planning tool that allows someone you designate to act for you in explicit instances and may avoid the need for a legal guardian to be appointed for you should you become incapacitated.
Advance directives are your written instructions about your future medical treatment and care. You choose a designee to communicate with your medical providers and ensure that your wishes are followed in the event you cannot communicate with your medical providers.