If you're setting up your estate you are making an incredibly wise move.  Laying out an estate gets your affairs in order, allocates who will receive which belongings and can also give you a tremendous amount of peace of mind.  Although you may have thought of using professional services to set up your estate, you might have decided to go it alone.  It's at this point that you need to figure out exactly what to include to make your estate plans as thorough as possible.  Use this information to learn more about two things that you absolutely must include in your plans.

Designate A Tax Preparer

The first thing you should do when you're setting up your estate is make sure you designate a trustworthy individual who can file taxes for you in case of an unexpected death.  The last thing you would want to do is pass away with an unresolved tax burden on your shoulders.

Understand that when you set up an estate, you are essentially creating a living entity known as a trust.  The trust can be taxed in much the same way that a living, breathing human being can be.  If there are portions of your estate that have not been taxed yet, a lien could be filed against your estate.  This could end up cutting into the amount of money that is left behind for the beneficiaries that you care for.

That's why it's so important for you to have a designated tax preparer.  Let them know where all of your tax papers are so they will be aware of what to file for your trust tax return in case you pass away suddenly.  Just performing this one basic move could end up being an incredibly wise decision.

Set Up Your Power Of Attorney

It's also very important for you to set up one or more persons who can act as your power of attorney.  They will have the ability to represent you in every sense of the word, especially if you happen to become incapacitated in some way and can no longer speak for yourself or properly express your wishes.  You can make them aware of what you would like so that if you can no longer say a word, your wishes will still go forward.

Including the right elements in your estate plan doesn't have to be difficult.  When you're ready to lay out your estate, remember these tips so you can do it properly.