Important Documents in a Tennessee Estate Plan
While no one likes to think about their passing, creating an estate plan is one of the best things that you can do for yourself and your loved ones. In Tennessee, there are a few important documents you should consider including in a comprehensive estate plan to cover all major decisions in your twilight years and after your passing. At Fort, Holloway & Rogers, our team of experienced estate planning attorneys have assisted many in the Franklin area create and amend estate plans to suit their specific wishes. To learn more, call or contact our office today.
Will
A will is the most important document in an estate plan, as it dictates your wishes for the distribution of your estate after your passing. The will can appoint an administrator of the estate, heirs and beneficiaries, establish trusts, and determine precisely how you would like your estate to be given out to those you care about the most. Without a will, an estate is divided according to the Tennessee laws of intestacy, which gives you no control over who or how your assets are divided.
Power of Attorney
A power of attorney form gives an agent the authority to make legal and financial decisions on your behalf if you are unable to do so yourself because of distance, illness, or injury. There are many types of power of attorney that can give limited or broad scope in decision making, and you should only appoint someone that you trust with your estate as an agent as they make critical decisions about your finances, real estate, and more on your behalf.
Advance Directive
An advance directive is another important document in an estate plan that solidifies your wishes for medical treatment in your twilight years. Healthcare professionals are bound to an advance directive if you are unable to communicate your medical decisions on your own. This document can cover everything from approved procedures, medications, life-saving treatments, and palliative care. It can contain a Do Not Resuscitate form or include directives for ventilators, feeding tubes, and respirators. Any and all medical decisions can be included in an advance directive for your care.
Healthcare Surrogate
A healthcare surrogate form is the final important document in an estate plan. If you do not have an advance directive, an appointed healthcare surrogate makes medical decisions on your behalf if you cannot do so yourself. If you do have an advance directive, a healthcare surrogate is bound by your wishes in that document and can ensure that medical professionals are providing the care you directed in your plan. It is important that you appoint a healthcare surrogate that has full knowledge of your medical wishes and is willing to adhere to those desires if an advance directive does not exist.
Call or Contact Our Office Now
If you are interested in creating or amending your estate plan, contact the Franklin estate planning & probate attorneys at Fort, Holloway & Rogers today to schedule a consultation.
Resource:
law.cornell.edu/wex/power_of_attorney
