Being in this line of work, I understand that no one wants to talk about their own mortality or the importance of planning for the unexpected. However, by procrastinating in implementing at least a basic estate plan, you run the risk that your intended beneficiaries may not receive what you would want them to receive; whether due to administration costs, taxes, costs of long-term care or bickering among heirs.
General Durable Power of Attorney - The Most Important Tool in One's Estate Planning Arsenal
When someone hears or mentions the term, estate planning, a Will is usually the first thing that comes to mind. While a will is an important part of a comprehensive estate plan, a power of attorney is generally the most important document one can have in place.