Even though we all know we should, not everyone has the proper legal tools and documents in place for our later years. Have you appointed someone to pay your bills and handle your other financial affairs, or to make health care decisions for you, in case of your temporary or permanent disability? Have you made clear your wishes for end-of-life care?
Instead of putting it off any longer, you should have these basic documents in place:
Durable power of attorney for finances
Durable power of attorney for health care
(Living Wills and Powers of Attorney for Health Care are often referred to as Advance Directives for Health Care.)
Here are a series of articles to help you understand the ins and outs of these documents:
Advance Directives, Living Wills, Powers of Attorney What’s the Difference?
Medical and Financial Powers of Attorney
How a Financial Power of Attorney Works
Health Care Declarations and Powers of Attorney for Health Care How They Work
Married Couples Who Owns What?
Do I Need a Lawyer to Make My Will?
What You Can't, or Shouldn't, Do in Your Will
When Do I Need to Change My Will?
You may also be interested in the following articles:
Why Avoid Probate?
Ways to Avoid Probate
How Living Trusts Avoid Probate
The Right Estate Plan for You