Everyone needs an agent – and not the Hollywood type. An agent is someone you designate to handle your estate after you’ve gone or who can make decisions for you if you cannot make them for yourself. Here are the kinds of agents everyone needs:
Executor – an executor is the person you designate to carry out your wishes for distributing your assets as listed in your last will and testament. You can choose a family member, a trusted friend or even a professional to fill this role.
Guardian – if you and your spouse die before your children reach adulthood, a guardian is the person you designate to take care of your minor children as well as handle their finances. Sometimes people decide to split the roles – one guardian to raise the children and another to handle the finances. Choosing a guardian (as well as a backup in case your first choice cannot serve) ensures your kids are taken care of by the people you know, love and trust, no matter what. One of the best ways to protect your children is to have a comprehensive Kids ICE Plan. Without it, your children are at risk of being taken into the care of strangers if the people you’ve named as permanent guardians don’t live nearby or if your legal documents cannot be located.
Read more about what type of agents you need.