When doing estate and financial planning, it is a good idea, says Timothy Bogert, a Retirement Daily contributor, to prepare for three things: What you know will happen, what you hope will happen, and what you hope will not happen.
Now estate planning documents such as wills, trusts, financial and medical power of attorney are fairly common. But there are some other important documents that are under the radar, but no less important.
According to Bogert, those include patient advocate/Health Insurance Portability and Accountability Act of 1996 or HIPAA forms; a letter giving permission to your executor or agent to access your digital assets; a diminishing capacity letter and a trusted contact form; a provider orders for life-sustaining treatment or POLST form; and a “five wishes” form.
Check out the video above to learn more.
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