Connecticut residents should create an estate plan to protect their future and their loved ones. There are certain essential documents you should always include.
Last will and testament
Your last will and testament gives you the ability to state how you want your estate to be handled after your death and who should serve as your executor. You can name beneficiaries to inherit assets and name guardians for your minor children. A will can also ensure that probate is faster so that your heirs can receive their share sooner.
Powers of attorney
Having various powers of attorney is important for all estate plans. You can name an agent for each type to ensure that they handle matters such as your medical care and your finances in the event that you’re ever struck incapacitated in the future. Your trusted agent will ensure that your wishes are met regarding any matter.
Health care proxy
A health care proxy is a legal document that you need to include as part of your estate planning efforts. With it, you can outline all of your wishes for your health care if you’re incapacitated and unable to express yourself. You can also include with it additional documents pertaining to how you want certain medical situations to be handled. For example, if you don’t want certain life-saving measures to be taken if you are terminally ill, a do-not-resuscitate (DNR) order can express that.
Trust
A trust is a legal tool that can hold assets you want to shield from the rest of your estate and hold for beneficiaries in the future. Depending on the type of trust you create, you can protect what is held within it from going through probate along with your estate. Your beneficiaries can also receive what you leave for them faster.
These are some of the most important documents to include in your estate plan.