Estate planning - wills, trusts, POA, etc - what do you have

[stephogirl]

DH and I are in our 40s, and we have two kids.

About 15 years ago, we put together wills using LegalZoom. We're planning to meet with an attorney in the next couple of weeks to re-do those wills.

What else should we have done? Trusts? Power of attorney?

What documents did you have done as part of your estate planning?

[Susie]

We have had this in progress for months, and are supposed to sign everything imminently.  

We did POAs (just naming each other), wills, trust to receive life insurance proceeds/etc., and healthcare proxy.

[gt7301b]

We have a will, health care directives, and testamentary trust established. We also went back and evaluated our beneficiaries as part of the process.

www.investopedia.com/terms/t/testamentarytrust.asp

[tripleshot]

We each have individual revokable living trusts, medical and financial POAs, wills, and healthcare directives. I probably got some of the terms wrong, but we basically did everything because DH was going to France for a long work trip and I have a severe illness and wanted to make sure my affairs were in order. We have 1 kid. The attorney put our home in the trust name and we updated all our life insurance and retirement account beneficiaries to #1 each other then #2 our trusts.

[ohgillian]

Feb 17, 2021 16:42:38 GMT -5 stephogirl said:

DH and I are in our 40s, and we have two kids.

About 15 years ago, we put together wills using LegalZoom. We're planning to meet with an attorney in the next couple of weeks to re-do those wills.

What else should we have done? Trusts? Power of attorney?

What documents did you have done as part of your estate planning?

So in my experience, attorneys who draw up these kinds of documents know what to guide you through. They usually have a set group of documents that they recommend to people who have typical life situations. He or she should guide you through the process. I think we got wills, a trust, health and financial powers of attorney.