You're thinking about how your assets can do the most good for your family. While estate planning is about getting everything in order, legally speaking, you know that it's also a chance to help them plan for their future.
A medical power of attorney is a document that gives someone else the power to make your healthcare decisions in a situation when you can't do it for yourself. This could be during end-of-life treatment, for instance, when you lack the ability to communicate your wishes to the medical team.
People make a lot of mistakes when they do their estate planning, but one of the most common ones is that they don't do it often enough. They make the plan, but they fail to update it or look at it again. They simply trust that it's going to work.
Writing a will and drafting an estate plan is something that you want to take very seriously. It has a drastic impact on your family after you pass away.
You've worked all your life to build what you have. You spent years in school, internships and working your way up the corporate ladder to get where you are today. Don't let all of it come crashing down after you are gone by facing high taxes on your estate. Today, we will take a look at some tax tips for large estates so your family members are not hit with massive taxes upon your death.