Estate planning documents can overlap

Estate plans cover many areas of a person’s life. These plans also incorporate many documents and planning tools that can make sure a person’s wishes are fully explained. However, during the estate planning process, it is important for Delaware residents to remember that certain parts of their plans may overlap.

Because certain documents can overlap, it is vital that the tools work together. For instance, individuals can create a living trust and a power of attorney document. The trust and the appointment of a power of attorney agent both work to address the person’s care and finances in relation to that care. The trustee works to make sure that the trust fulfills its purpose, and the power of attorney agent handles various affairs, including finances. If the person needs to be admitted to a care facility, the agent will handle necessary paperwork and the trustee will make sure the trust pays for expenses.

An advanced health care directive can also overlap with these documents. The agent acting under this directive makes medical-related decisions, and if those decisions result in expenses, the power of attorney agent has the duty of making sure those expenses are paid. In order to pay them, that agent may request funds from the trustee.

Multiple people and multiple documents can play important roles in estate plans. If a person’s plan does not allow these overlapping roles to work well together, serious issues could result. If Delaware residents want to better ensure that their documents do not conflict, they may wish to bring up this topic with their estate planning attorneys.



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