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What are the 5 components of estate planning?

Here, our estate planning attorneys lay out the 5 main components of estate planning: Wills and Trusts. Durable Power of Attorney. Medical or Healthcare Power of Attorney. Living Wills and Advance Directives for Medical Decisions. Beneficiary Designations.

Where is the safest place to keep your will?

Best Places to Keep Your Will Filed with the probate court. This is the best place to store your will. With your attorney. If you use an attorney to prepare your last will, they may offer to keep it in their safe. A home safe.

What not to put in will?

What You Should Never Put in Your Will Business interests. Personal wishes and desires. Coverage for a beneficiary with special needs. Anything you dont want going through probate. Certain types of property.

What assets are controlled by will?

Types Of Property And Assets To Include In A Will Cash, including money in checking accounts, savings accounts, and money market accounts, etc. Intangible personal property, such as stocks, bonds, and other forms of business ownership, as well as intellectual property, royalties, patents, and copyrights, etc.

What are three elements of an estate plan?

What are the Basic Elements of an Estate Planat Any Age? Last Will Testament. Your Will governs the distribution of assets which are solely in your name, through the legal process known as probate. Durable Power of Attorney. Advance Health Care Directive.

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