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The sooner you take these end-of-life considerations into account, the better

No one really wants to prepare for their own death. But planning for your property is an important aspect of your financial strategy. The sooner you have the basic documents in order, the better for your family's financial future. The following are basic death planning documents that you may want to include in your package.


Your will dictates who gets your assets when you die and under what conditions. If you have minor children, you can specify guardians for them in your will. You can also appoint an executor or personal representative to carry out the instructions in your will and trustee to handle trusts created under your will.

Revocable Trust

A funded revocable trust can be created to ensure a trustee of your choice can act on your behalf if you become incapacitated for work during your lifetime. A revocable trust also allows you to avoid estate registration, as the assets are transferred to the trust before your death.

Power of attorney

A power of attorney gives your agent (the person you name) the authority to act and sign documents on your behalf. Your lawyer may need to act for you if you become incapacitated for work or if you are traveling and are not available to act for yourself. You may want a revocable trust in place for investment management purposes and a power of attorney for other purposes, including the management of assets not transferred to the trust.

Health care power of attorney

Also known as health care power of attorney, a health care power of attorney gives someone you choose the authority to make care decisions for you if you are unable to do so. For example, if you were in a coma, your care representative (the person listed in your health care authorization) may make decisions for you regarding the treatment options presented by your doctors.

Living Testament

This document is designed to clearly state your wishes regarding your treatment in specific health situations to your doctors and your care agent. Depending on your preferences, it may include a non-revitalization order (DNR). This is a directive for hospital staff and healthcare professionals not to perform cardiopulmonary resuscitation (CPR) if your heart stops or you stop breathing.

Irrevocable Life Insurance Trust

The purpose of an irrevocable life insurance fund is to receive and hold life insurance income. This means that these funds can be available to your beneficiaries without being included in either you or your spouse's taxable estate. An irrevocable life insurance trust can be especially useful if your surviving family members need money shortly after your death for living expenses or to pay property taxes.

Life Insurance

Of course, you also need a life insurance policy to provide the death benefits that go to your irrevocable life insurance policy. Buying life insurance is a great way to ensure that your family is supported after your death. There are many different life insurance options. If you do not currently have insurance or want more life insurance, our knowledgeable agent can help.

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