Healthcare POA designates someone to make medical decisions for you Living will provides specific instructions for your healthcare guardian Durable financial POA manages your money when you cannot Financial POA can include restrictions on how finances are handled

Curated by: Rubric Advisors

Estate & Legacy

Estate Decisions

Estate planning involves three critical decisions: determining beneficiaries and gift timing, appointing trusted fiduciaries to manage affairs, and establishing powers of attorney for personal and financial matters.

Estate Decisions

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Estate Planning Foundation

Estate planning requires answering three fundamental questions about your future
Decisions involve beneficiaries, decision-makers, and personal care arrangements
Planning ensures your wishes are carried out when you cannot
Proper setup protects assets and provides clear instructions for others

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Estate Planning Foundation

Estate planning requires answering three fundamental questions about your future
Decisions involve beneficiaries, decision-makers, and personal care arrangements
Planning ensures your wishes are carried out when you cannot
Proper setup protects assets and provides clear instructions for others

Choosing Your Beneficiaries

Decide who will receive your assets: children, family, charities, others
No real limits exist on who you can appoint as beneficiaries
Create dispositive provisions to add restrictions on gift distributions
Specify when and how beneficiaries will access their inherited assets

Appointing Key Fiduciaries

Trustee manages trust assets and carries out distribution instructions
Executor handles assets outside the trust but within your estate
Guardian takes care of minor children when you cannot
Most people choose the same person as both trustee and executor

Powers of Attorney

Healthcare POA designates someone to make medical decisions for you
Living will provides specific instructions for your healthcare guardian
Durable financial POA manages your money when you cannot
Financial POA can include restrictions on how finances are handled

Key Takeaways

Identify beneficiaries and create appropriate dispositive provisions for gift restrictions
Appoint trusted fiduciaries including trustee, executor, and guardian for minors
Establish both healthcare and durable financial powers of attorney
Work with an attorney to create proper documentation for implementation

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The information above is for educational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Any historical figures are for illustration only, and past performance does not guarantee future results. Tax laws, regulations, and contribution limits change frequently, the details here may become outdated. Individual circumstances vary. Consult a qualified financial advisor, CPA, or attorney for guidance specific to your situation. Rubric Advisors is registered with the California DFPI; registration does not imply a certain level of skill or training.

Estate Decisions

Estate Planning Foundation

Choosing Your Beneficiaries

Appointing Key Fiduciaries

Powers of Attorney

Key Takeaways

Estate Planning Foundation

Choosing Your Beneficiaries

Appointing Key Fiduciaries

Powers of Attorney

Key Takeaways

Related Topics

Estate Planning 101

Beneficiary Designation Mistakes

Charitable Lead Trusts

Estate Decisions

Estate Planning Foundation

Choosing Your Beneficiaries

Appointing Key Fiduciaries

Powers of Attorney

Key Takeaways

Estate Planning Foundation

Choosing Your Beneficiaries

Appointing Key Fiduciaries

Powers of Attorney

Key Takeaways

Related Topics

Estate Planning 101

Beneficiary Designation Mistakes

Charitable Lead Trusts