Wills, Trusts, Advance Healthcare Directives - What Do They Mean?
If you are trying to figure out what all the estate planning terminology means, I’ve broken down the following terms to help you understand each and how they work together to give your family peace of mind and to ensure your life and healthcare wishes are carried out.
A legal document that states your final wishes regarding your estate.
A legal document that transfers your personal and/or real property (real estate) outside of the court system (probate) to people you designate upon your death.
Power of Attorney for Healthcare
A legal document where you give someone legal authority to make decisions for you when you cannot make them for yourself.
Advance Healthcare Directive
A legal document where you determine what healthcare actions should be taken for you when you are no longer able to make decisions for yourself due to illness or mental incapacity.