Four documents form the foundation of a solid estate plan: a last will and testament, a durable power of attorney, a power of attorney for healthcare, and a living will. Together they cover who manages your finances, who makes your medical decisions, and who inherits your property — so your family isn't left guessing or forced into court to act on your behalf.
There are four foundational estate planning documents that we encourage every client to have. Taken together, these four documents cover the major decisions that arise during incapacity and after death, so your family isn’t left guessing — or forced into court proceedings — to act on your behalf.
1. Last Will and Testament
Your will directs how your property is distributed after your death and names the personal representative (executor) who will administer your estate. It also lets you name a guardian for minor children and establish trusts, if needed, for beneficiaries who are minors or otherwise require managed distributions. Without a will, state intestacy law — not your wishes — determines who inherits.
2. Durable Power of Attorney
This document appoints a trusted agent to handle your financial and legal affairs — paying bills, managing accounts, handling property, and similar matters — if you become unable to act for yourself. It is durable, meaning it remains effective even if you become incapacitated, which is precisely when it’s needed most. Without one, your family may need to petition a court for a conservatorship to manage your affairs.
3. Power of Attorney for Healthcare
This document appoints an agent to make medical decisions on your behalf if you’re unable to communicate or decide for yourself. Your agent can talk with your doctors, access your medical records, and consent to or refuse treatment consistent with your wishes. Choosing someone you trust — and discussing your preferences with them in advance — helps ensure decisions are made the way you would want.
4. Living Will
Sometimes called an advance directive, a living will states your wishes about end-of-life medical treatment — such as life support, artificial nutrition, and resuscitation — in the event you’re terminally ill or permanently unconscious and can’t speak for yourself. It works alongside your healthcare power of attorney: the living will states your wishes, and your healthcare agent helps ensure those wishes are carried out.
What to Expect at the Appointment
- We’ll review draft documents with you and answer any questions.
- You’ll confirm your choice of personal representative, agents, and any guardians or trustees.
- Each document will be signed with the witnesses and/or notarization required for validity.
- You’ll receive signed originals and/or copies for your records.
At Henry & McCord, we prepare and execute all four of these foundational documents together. Combined, they give you control over your property, your finances, and your medical care — both during your lifetime and after.
This article is a general summary for planning purposes and does not constitute legal advice for any specific estate. Contact us to discuss which options fit your circumstances.