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765 N. Main Street, #124 Corona, CA 92880What legal documents should every person have? A will. Also known as: a last will and testament. A living will. Also known as: an advance directive. Durable health care power of attorney. It appoints: a health care proxy. Durable financial power of attorney. It appoints: an attorney-in-fact or agent. What are the 5 components of estate planning? A good estate plan is comprised of five key elements: Will, Trust(s), Power of Attorney, Health Care or Medical Directive and Beneficiary Designation. A will is a legally binding document that directs who will receive your property and assets after your death. Who can be a trustee? Every person capable of holding property may be a trustee; but, where the trust involves the exercise of discretion, he cannot execute it unless he is competent to contract.
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