There are a number of things to consider when choosing advocates for your estate plan.
One of the most essential parts of setting up your estate plan or Will is the selection of your advocates - or the people you choose to represent you and carry out your wishes. Choosing advocates can be an emotional, stressful decision, but there are a few considerations that can help you make the right decisions for yourself and your family.
Advocate is a general term we use to define anyone who receives decision-making power in your estate plan. This might include:
Several considerations can go into the process of choosing advocates for your estate plan. It’s important to remember that this is a personal decision, and there’s no right or wrong for your decisions. Here are a few questions to ask yourself to guide your decision:
Making sure you know the answers to these questions can help point you in the right direction when selecting your advocates.
After you have selected your advocates, it’s important to communicate your decision and expectations with them to make sure you’re both on the same page for an easier transition in the future. These people will be your representatives when you’re unable to do it yourself, so you’ll want to arm them with as much information and guidance as possible while you can. Make sure that they understand the following:
Take your time with these questions and the decision to choose your advocates. In some cases, it may feel obvious, but giving it an extra moment of thought will help reinforce the decision and set your worries at ease. We also recommend revisiting your advocates regularly to make sure they’re the right choice as your needs change and are still up to the task. MyAdvocate can help keep your plan and advocates up to date automatically by sharing changes in real-time.
This post was written by MyAdvocate's team of estate planning attorneys.