What document is best for directing financial affairs after a client's death?

A will is the most appropriate document for directing financial affairs after a client's death. It is a legal instrument that outlines how a person's assets and liabilities should be managed and distributed upon their passing. By detailing the specific wishes of the deceased, a will provides clear instructions for the executor regarding asset allocation, debt settlement, and appointment of guardians if applicable.

Additionally, while living trusts can be effective for managing assets during a person's lifetime and can help avoid probate, they do not function in the same way as a will with respect to the distribution of assets after death. A power of attorney is used to make decisions on behalf of an individual while they are alive, particularly concerning financial or medical matters, but it ceases to be effective after a person's death. A medical care directive primarily deals with healthcare decisions and does not address financial affairs at all.

Therefore, the will serves as the definitive document that ensures that the financial wishes of a deceased person are honored and legally enforced.