5 Core Estate Planning Documents Every Family Should Have

Most people know they should have an estate plan. Fewer know exactly what goes into one. In this video, Tim Ivey, attorney at Trowbridge Nieh LLP, walks through the 5 core estate planning documents every family should have, including one that's especially important if you have minor children. TIMESTAMPS 0:00 Introduction: What an estate plan actually covers 0:57 Document 1: Durable Power of Attorney 3:12 Document 2: Health Care Proxy 4:27 Document 3: Last Will and Testament 6:10 Document 4: Revocable Living Trust 10:37 Document 5: Parental Appointment of Guardianship 13:21 Recap and next steps IN THIS VIDEO YOU'LL LEARN: • Why a durable power of attorney beats a springing power of attorney for most families • What a health care proxy covers and why naming an agent matters • How a will and a revocable living trust work together, and why you need both • How trusts can reduce probate exposure and, in some cases, estate tax liability • What a parental appointment of guardianship does that a will alone cannot CONNECT WITH TROWBRIDGE NIEH LLP: Website: https://www.tnllp.com Schedule a Consultation: https://www.tnllp.com/contact#schedule RELATED VIDEOS:    • 3 Ways to Protect Your Assets from Credito...   Trowbridge Nieh LLP is a securities and estate planning law firm with attorneys licensed in Massachusetts, California, and Texas. With 700+ clients and $8B+ raised, we help families and real estate professionals plan for the future. The content in this video is for informational purposes only and is not legal advice nor does it create an attorney-client relationship.