That’s the bad news. The good news is a qualified estate planning attorney can craft a comprehensive estate plan – based on your wishes – by using the following six basic legal documents.

Revocable Living Trust
A revocable living trust is a much more versatile document than a will. It can take care of your financial and healthcare needs if you become disabled or incapacitated; help your estate avoid the publicity, delay, and expense of probate; help protect heirs from creditors and divorce; and control your assets after you’re gone, giving minor children or young adults the time they need to grow into their financial responsibilities. A revocable living trust can also provide maximum control over the disposition of your assets. For example, if you have children from a previous marriage, you can address issues so that your spouse and your children receive fair treatment.

Pourover Will
If you’ve forgotten to transfer assets into your revocable living trust, when you die a pourover will transfers those assets into the trust. Pourover wills can also distribute tangible personal items like furniture, jewelry, clothing, or other personal property. These wills also designate guardians for minor children. If you have a revocable living trust but don’t have a pourover will you could end up with two distribution plans: the assets controlled by your trust will be distributed according to your instructions, while any assets not controlled by your trust will be distributed based on the intestacy laws of Florida.

Health Care Power of Attorney and Living Will
A health care power of attorney allows you to appoint another individual to make health care decisions for you if you are incapable of making health care decisions through illness, injury, or incapacity. A living will is a more specific document that addresses situations involving life-sustaining medical treatment. Your agent does not need to agree with your wishes, but must respect your right to receive the kind of treatment you want.

HIPAA Power of Attorney
HIPAA regulations were designed to protect your privacy and confidentiality. A health care power of attorney gives your designee authority to make medical decisions for you if you are unable to do so. But, due to the penalties involved, some health care providers may be reluctant to share medical information with your designee. Because the person you appointed may need to make decisions on your behalf during a medical crisis, it is critical they have immediate access to information about your condition, your prognosis, and potential treatment plans and a HIPAA Power of Attorney will allow them access.

Property Power of Attorney
A power of attorney gives a person the legal authority to act on your behalf in financial or business situations. Powers of attorney are extremely flexible: you can limit your designee’s authority to a specific situation, like closing on the sale of a home or signing a specific contract, or give them authority over a broad range of situations or circumstances. A power of attorney can be temporary or permanent, can take effect only if you are incapacitated, and can be revoked at any time. A power of attorney is an effective way to protect your interests if you become disabled or incapacitated because your agent can step in to handle all or part of your business or personal affairs.

Using these six basic documents, an experienced estate planning attorney will help you create a comprehensive and effective plan that provides for your family, protects your assets, and ensures your wishes are carried out.