Regardless of age, circumstance, or personal finances, everyone should have an estate plan. This article explains the importance of having an estate plan and breaks down the three core pieces that an estate plan contains: a healthcare proxy (someone who can make important medical decisions on your behalf should you be unable to do so yourself), a durable power of attorney (a document that allows a person of your choice to make decisions regarding your finances), and the last will and testament (a document that stipulates how your assets should be divided amongst beneficiaries). Become aware of some of the falsehoods surrounding estate plans and learn more about why estate planning is essential! Check out what our friends at Lakeside Financial Planning had to say about the need for an estate plan in their recent newsletter.
