Roth IRAs are financial accounts that provide excellent retirement planning tax benefits and can help avoid probate here in Los Angeles County. For tax planning purposes, there are a few details you should know.
Many people believe that when they create an estate plan and sign an Advanced Health Care Directive document, they’re also signing a Do Not Resuscitate order, or DNR. However, a DNR is actually a health care document and is not provided by attorneys as part of an estate plan. This means that you won’t sign a DNR in an attorney’s office; instead, it will be signed with a doctor or in a hospital. An Advanced Health Care Directive can impact a DNR, and the documents are sometimes used together to make sure your health care wishes are fulfilled.
Just how safe are your legal documents, should a disaster strike? The loss of those documents will cause a lot of problems after the destruction has been cleared, which is why it’s important to make sure you protect those documents.
All adults should create advance directives at some point in their lifetime, preferably sooner rather than later. Advance directives, also known as designation documents, are documents that help you decide how your finances and health care decisions will be handled if you ever become incapacitated or decide you no longer want to be in charge of those decisions. These documents include a Power of Attorney and Advanced Health Care Directive, and even if you already have these documents, it’s important to have them reviewed by an experienced Los Angeles County will and trust lawyer every few years to make sure they still match your wishes and your current situation.
