When planning for your future, it is important to consider what may happen, and what you would prefer to happen after your passing.
The following are 5 legal instruments that you will want to use when estate planning. These include provisions for your worldly goods and provisions should you become incapacitated before you die.
The Will: A basic Will will let you determine who will be in control and receipt of your worldly goods once you die. Wills can be very simple or very detailed.
The Durable Power of Attorney: This will allow you to appoint someone of your own choosing to handle your affairs should you, at any time in your life, become too ill to do so. This will also keep the court system out of your business.
The Advanced Directive for Healthcare: If you are terminally ill, or injured, what do you want the medical professionals to know about how you would like to be cared for. This document allows for your wishes to be followed in the event of a terminal condition.
The Living Will: This is another document that allows you to make choices about your life. In a Living Will, you make the choices and the only other person involved is the Proxy whom you appoint to ensure that your wishes are carried out.
The Power of Attorney for Healthcare: This is different in that you actually appoint another person to be the decision-maker. In this case, you will not be making your own decisions about your healthcare. This document often comes into play when a person is unable to make decisions about their own health and well-being.
There are plenty of online documents to help you with estate planning, but it is a complicated venture. You will want to meet with an estate lawyer who knows how to best help you plan for your future and that of your family.
If you have legal questions, please consult our Online Legal Directory to find an attorney in your area.