One common issue that arises when creating an estate plan is choosing which family members to name as agents or how to divide assets when you have favorite relatives.
When it comes to naming agents, you’ll want to consider a number of factors. For someone such as your health care agent, you might want to name a child who lives close enough to you to accompany you to medical appointments and who doesn’t need to worry about a time difference when communicating with your medical providers. Also, if any of your children works in the medical field, you may want to name them as health care agent because of their experience.
When naming who to handle financial assets, you’ll still want to consider their location, but you’ll also want to choose someone who is skilled at managing their own finances.