Writing Your Estate Plan? 4 Ways To Avoid Problems

If you're putting together your estate plan, you want to avoid making mistakes. An estate plan provides documentation about how you want your assets to be handled once you pass. Below are four tips that will help you avoid problems with your estate plan. 

Designate Powers of Attorney

When it comes to leaving a final estate plan, you can't afford to leave powers of attorney out of the picture. You may not know this, but your estate plan should include at least two powers of attorney. The two powers of attorney typically include your financial power of attorney and your medical power of attorney. Powers of attorney act on your behalf when you're unable to do so. Designating powers of attorney is especially important if you become incapacitated before your death. A financial power of attorney can handle all your financial obligations, whereas a medical power of attorney can make decisions about your healthcare. 

Do Provide Medical Directives

Now that you're creating your estate plan, don't forget about your medical directive. Medical decisions can become complex towards the end of your life. Without a medical directive, your power of attorney will need to rely on their own instincts and information. Having to rely on their own intuition won't be the case when you have a medical directive on file. A medical directive can include information on how you want your end of life to proceed. The medical directive can include things like Do Not Intubate (DNI) or Do Not Resuscitate (DNR) orders. That way, your medical power of attorney can act on your final wishes. 

Don't Include Personal Details

If you're working on your estate plan, be sure to omit any personal details. For example, you'll want to omit your social security number and bank account numbers. Your estate plan can become a matter of public record after you die. If you include identification or account details, strangers will have access to that information. If you've left some family members out of your will, they can get access to that information as well. Avoid the risk and only give those details to your financial power of attorney. 

Avoid Disparaging Remarks

If you're at odds with some of your family members, leave that information out of your estate plan. You might be tempted to discuss the negative aspects of your relationships with family members. But, those comments can cause problems for your loved ones after you die. If you do want your feelings to be known, write personal letters to those individuals. That way, your feelings don't become a matter of public record.

To learn more about writing your estate plan, reach out to an estate planning attorney near you.