Given the current political and economic climate, there is great uncertainty regarding the future. I wish to take the necessary precautions in organizing my life during these interesting times. Is this estate planning? If so, how best do I go about it? Ideally, I wish to organize documentation planning my life. Is this a living will? To my understanding a living will a focus on one's health where something like a "do not resuscitate" clause can be found? I would also like have a contingency plan in the event of my death. Is this a last will? Can a last will be contained with a living will?
Within the living will, is it possible to organize an entity to act as legal proxy to an individual? Is this a trust? Can a trust hold personal assets and have the power to service personal debts? Is this a trust fund? Whatever this entity is, it would have a bank account that pays for the electric bill, a retirement program, portfolios, and assets. Is it possible to then have someone like a manager to have access to these accounts to perform certain actions (like paying the bills)? Is this a representative? So in some weird way, there is a proxy and that proxy has a proxy that isn't the original? Furthermore, is it possible that a business can be created within the trust? Or rather, could a trust fully own a business? I am planning on starting a business in the near future but would first like to get my personal affairs in order.
Is this nested structure optimal or even possible? Living Will >> Living Will + Las Will >> Trust >> Business
I'm not legally minded but am in the early stages of doing my homework. This website has some interesting resources and was hoping to get a second opinion or advice as to where to start. Mostly, this is a personal project and would like to cycle through a few drafts before presenting it to a lawyer.