Northwest Strategy Planning

a) A will is the essential document in an estate plan. It is a legal document stating how you want your property and assets to be distributed after death. You can also use a will to appoint a guardian for your minor children.

b) A living trust is a legal document that can hold your assets and property during your lifetime and distribute them according to your wishes after death.

c) A financial power of attorney appoints someone to handle your financial affairs if you become incapacitated.

e) A living will, also called a directive to physicians, expresses your wishes regarding life-sustaining medical treatment if you become terminally ill or permanently unconscious.

f) Beneficiary designation forms name the people receiving your assets through payable-on-death accounts and retirement plans.

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