When you are working on your estate plan, there will be a few documents that you will need to focus on to help get the work done. Some of the most common estate planning documents that you can consider include:

Guardianship

This document is going to state your wishes when it comes to the care of your children or any other dependent you have a responsibility for when you pass on or if you are no longer able to take care of them. Most often, you will include instructions for this in your own will.

Will

The will is a legal document that will express your last wishes for how you would like to distribute your property and some of the other assets that you own.

Trust

This is going to be a legal three-party fiduciary agreement that is going to allow the first party to give the second party the rights to hold onto the property and assets on behalf of and for the benefit of the third party. This could be done for your kids, for example,

Financial Power of Attorney and Durable Power of Attorney

The financial power of attorney will be the legal document that will allow another person to have the power to handle all of your financial affairs when you are no longer able to do it. The durable power of attorney is going to be a variation on this and is a document that will give legal rights to another person so they can handle any of the non-medical and non-health affairs. They can do this if you are unable to do it, whether you are alive or dead.

Advanced Healthcare Directive

This can be the Living Will or the Medical Power of Attorney as well. These will state what, if any, medical actions you would like to have taken if you are incapacitated and not able to make some of your own decisions. There are some legal distinctions between each one so ask your attorney ahead of time.

Planning out your estate ahead of time is one of the smartest decisions that you can make to ensure that you are able to get your finances divided up, both when you are alive and after you pass on. A Calgary wills lawyer will be a good resource to help you get all of this done and to ensure that you are able to make a plan and get ahead. Take a look at some of the attorneys in your area who can help you create a great estate plan in no time.