The Three Legal Documents Every Adult Needs
A Will – to put someone in charge of your legal and financial affairs after your death and to tell them what you want done.
A Medical Power of Attorney/Living Will – to give someone the ability to take care of your health decisions if you are unable to and to tell them what your wishes are.
A General Power of Attorney – to give someone the ability to take care of your finances if you are unable to.
Last Will and Testament
Your last will and testament indicates:
who will manage your estate when you die (Executor)
who will and will not receive part of your estate (Heirs and Beneficiaries)
who will care for your minor children if both of their parents are deceased (Guardian)
who will manage any trust set up for your minor children (Trustee)
What if I DON’T have a will?
These important decisions will be determined by laws and the courts.
The process of managing your estate will likely take longer, be more complicated, and therefore be more expensive and more stressful for those you leave behind.
Medical Power of Attorney/Living Will
Medical Power of Attorney is the person or persons:
who will have the authority to make health decisions on your behalf if you are temporarily or permanently incapacitated
who will have access to your medical information and records if you are temporarily or permanently incapacitated
A Living Will is sometimes referred to as an Advanced Medical Directive
A Living Will instructs medical personnel what your wishes are regarding:
life support
the use of extraordinary efforts to save or preserve your life
General Power of Attorney
General Power of Attorney is the person or persons:
who will have the authority to make financial and legal decisions on your behalf if you are temporarily or permanently incapacitated including paying bills, buying, selling, and transferring property.
who will have access to your financial accounts if you are temporarily or permanently incapacitated
