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Reply to the following paragraph with a 100 word reply : The first estate planning strategy that I want to discuss is recommending that a
Reply to the following paragraph with a 100 word reply : The first estate planning strategy that I want to discuss is recommending that a client prepare or amend a will. This is a crucial step in estate planning that makes the transfer of estate much smoother and easier for your loved ones. A will ensures that your final wishes are followed appropriately rather than relying on just laws. A will should be reviewed roughly every 5 years to keep it updated and to ensure accuracy it should be reviewed by a trusted attorney as well. The second planning strategy I want to discuss is encouraging clients to draft a letter of last instruction. This is a legally binding document that can include any special wishes that may otherwise not be included in a will or trust document. Similarly, this document should be updated roughly every 5 years or when other legal documents are updated. The final planning strategy to discuss is to recommend that a client utilize a living will, power of attorney, and advanced medical directive. A living will is a legally binding document that specifies in the event of an incident, at what point they no longer want to be on life support. A durable power of attorney for healthcare is another important thing to have and should be given to someone with whom you trust to make medical decisions for you in the event you cannot do so yourself. Finally, an AMD or advanced medical directive combines the living will and durable power of attorney for healthcare
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