development

A simple approach to estate planning

For many, estate planning can be an unfamiliar subject. With several different professional advisors and so many different terms, tools and documents, where do you start? In planning your legacy and creating a comprehensive estate plan for you and your loved ones, begin with an experienced and trusted estate planning attorney. Or if you have a financial advisor, he or she may be able to recommend an attorney.

Some basic documents that should be considered and discussed with your attorney include a revocable living trust, which is often thought to be the most effective estate planning tool available; a will or a pour-over will; a property power of attorney; a living will or medical healthcare directive; and a healthcare power of attorney. A healthcare power of attorney should include appropriate medical releases, such as those required by HIPAA, the Health Insurance Portability and Accountability Act.

Each of these documents plays an important, but different, role in having a comprehensive estate plan. To discuss making a charitable gift to Palmer College, contact Senior Development Officer Lois Kundel at (800) 722-2586. At the prompts, press 3, then press 4, or e-mail Lois at lois.kundel@palmer.edu.

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