Life events such as marriage, divorce, births, or deaths may require updates. Review and update Beneficiary Designations regularly: Ensure your beneficiary designations are up to date and reflect your current wishes.Set up a trust or custodial account to manage their finances until they come of age. Plan for Minor Children: If you have young children, designate a guardian who will care for them in the event of your death.Create a Trust: Depending on your circumstances, establishing a trust may provide additional benefits such as avoiding probate, protecting assets, or managing inheritance for minor children or beneficiaries with special needs.In a Living Will, state what treatment you want and do not want if you are terminally ill or in a persistent vegetative state with no likelihood of recovering. Choose a trusted person to act as your health Care Proxy. Set up a Health Care Proxy and Living Will: In a Health Care Proxy, outline your preferences for medical treatment in case you are unable to communicate your wishes.Consider providing for successor agent(s). Consider both a durable power of attorney for finances and a health care proxy for medical decisions.
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