ESTATE AND DOCUMENT PLANNING CHECKLIST HOW TO
ESTATE AND DOCUMENT PLANNING CHECKLIST PROFESSIONAL

Signing Requirements – No specific requirements.The authorized acts that the agent can carry out can be detailed in the power of attorney document. A “durable” power of attorney meaning one in which the representative can act on the principal’s behalf even if they are incapacitated. To appoint a financial agent, the principal must complete a Durable Power of Attorney form. Assigning this role to a trusted individual is especially important given the fact that the principal may need someone to secure finances for their medical treatment at a time in which they are incapacitated.

ESTATE AND DOCUMENT PLANNING CHECKLIST PROFESSIONAL

It is recommended that an individual obtains the services of a professional attorney before executing these instruments.Ī financial agent is a representative for the principal who is granted the authority to act on their behalf in the execution of legal documents. In addition to being able to execute instruments in the principal’s stead, a financial agent can manage the principal’s finances if the principal is incapacitated. When reviewing these instructions, the individual who is creating the documents is referred to variously as the principal, the testator, and the grantor, depending on the document in question.

Designate Beneficiaries and Other Rolesīy following this brief guide, an individual can ensure that they have made the necessary preparations for the end of their life and the distribution of their estate.

ESTATE AND DOCUMENT PLANNING CHECKLIST HOW TO

How to Create an Estate Plan in Louisiana (6 steps) The Health Care Power of Attorney and Durable Power of Attorney allow an individual to appoint one (1) or more representatives to make decisions on their behalf in the event that they become incapacitated. The Last Will and Testament and Revocable Living Trust are the most commonly used legal instruments for planning the division of an individual’s property when they die. In addition to estate planning, the checklist presents options that an individual may elect to prepare for the loss of decisional capacity. A Louisiana estate planning checklist is a document that provides a descriptive list of the important forms necessary to set up an individual’s plans for the distribution of their estate.

Estate and document planning checklist