What Documents Do I Need For Estate Planning? | Ep 212

• Tiffany introduces the episode as answering a listener question on estate planning documents. She stresses this is informational, not legal advice, and recommends consulting an attorney.

• A will communicates your wishes after death. Tiffany recommends a living will for flexibility to make changes anytime.

• This document allows a trusted person to handle finances if you're incapacitated. Share login credentials and document locations with your chosen agent.

• An advanced medical directive outlines your end-of-life preferences. A healthcare power of attorney names who makes medical decisions if you can't.

• Trusts are costly and not necessary for everyone. They allow control over asset distribution, such as staggered payouts to children or support for disabled dependents.

Educate yourself on really any of these things, but definitely if you see something that's trending on TikTok... educate yourself first before you jump in headfirst.

• Set beneficiaries on 401(k)s, IRAs, and similar accounts. Name adults only to avoid court intervention. Update after major life changes.

• Review life insurance beneficiaries periodically. Tiffany shares her experience updating designations after her grandmother's passing.

• Add TOD to bank accounts so funds transfer automatically, avoiding probate and account lockouts.

• Document wishes like cremation or music to prevent confusion. Tiffany reveals her plan to be cremated and have ashes scattered in the ocean.

I wanted to be cremated... take my ashes to some type of body of water, preferably an ocean, sprinkle a little bit in.

• Consult an estate planning attorney or check credit unions/banks for affordable document services. DIY options exist but should be reviewed by a professional.