When you hear the phrase “estate planning” the first thing that probably comes to mind is a Last Will and Testament. But estate planning is broader than that and includes other important documents such as a power of attorney and an advance directive, also known as a health care proxy. These are essential tools in any estate plan, because while a Will dictates what happens to your assets after you pass, a properly written power of attorney and advance directive ensures you are taken care of during life when you cannot care or make decisions for yourself. Without them, you could be facing substantial difficulties later in life that you might otherwise be able to avoid. Here are five things that everyone should know about powers of attorney and advance directives when making their estate plans:
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