Estate planning is an uncomfortable task. But the decisions you make in drawing up your estate plan are actually acts of love and kindness to the people we trust with our affairs. But such acts of love also require courage, according to an article on nj.com.
The most important part of estate planning involves the preparation of three documents expressing your wishes under different potential circumstances, the story says.
These involve decisions concerning medical treatment, legal and financial matters and decisions about your “stuff” after you are gone. Two involve matters that may occur while you are still alive — power of attorney and advance medical directive. The other deals with your will.
Either we address these matters or we leave chaos for our loved ones. You can do nothing, you can prepare the right documents and leave them in a drawer to be found after your death or you can think about your loved ones and what they will face when you are gone. In the last scenario, you revisit those documents regularly and make sure they are up to date.