3 Essential Documents It's easy to know when to renew your driver's license or credit card; just look at the expiration date. But, what about your estate planning documents? Everyone, regardless of whether you are rich or poor, young or old, should have these three essential documents—and keep them current.
Document
What it is
Where to keep it
When to update it
Will/Living trust
Directs your trustee or personal representative on how to distribute your estate
In a fireproof emergency kit; give a copy to your personal representative
Every 3-5 years or immediately after:
A move to a different state
A change in beneficiary
An ample change in estate size
Durable power of attorney
Allows someone of your choice to carry out financial matters for you in the event of your illness or disability
In a fireproof emergency kit; give a copy to the person you appointed
If your relationship with this person changes or if this person predeceases you
Health care proxy and living will
Names an individual to make health care decisions if you become unable to do so
Give copies of the form to your health care providers and the person you chose in the proxy
If your relationship with this person changes or if this person predeceases you
Quick Tip: As you make or update your estate plan, if you are considering naming us in your will, please let us know so we can thank you.
The South Jersey Healthcare Foundation is a 501(c)(3), not-for-profit organization, Federal tax ID#22-3746758.
