6 VITAL DOCUMENTS
1. Living Will
This document specifically appoints a person to make your final life decisions. Do not leave these decisions for your family to argue over. Make it easy for everyone concerned and put your end-of-life instructions in writing.
2. Durable Power of Attorney (DPOA)
This document allows the people appointed to make financial decisions on your behalf. This is very important if you become temporarily or permanently incapable of doing so. If you are unable to speak, think or make decisions, the person appointed will be able to contact banks and mortgage companies and make payments and inquiries on your behalf. Do not wait for the emergency to happen, take care of this in advance.
3. Designation of Healthcare Surrogate
This document is like a Living Will, however, this document appoints a person to obtain medical information and to make all medical decisions on your behalf, not just end-of-life decisions. In an emergency, make it easy for you to get the treatment you need, and have this document prepared now.
4. HIPAA Compliant Health Authorization (Health Instructions Provider Authorization Act)
This document allows your appointee the ability to obtain health care information from medical providers. This document does not allow a person to make decisions on your behalf like the Healthcare Surrogate. This document is vital for children that are over the age of 18 and go off to college as well as for elderly people. In an emergency, without this document, you will be unable to obtain detailed health information about your adult children in college. Do not delay as you cannot plan last minute for emergencies
5. Pre-Need Designation of Guardian
This document designates a person to become your legal representative in the event you are determined to be mentally incapacitated and in need of a Guardianship. The Judge makes the final determination, however designating someone in advance can streamline the process and save time, effort, money, and any arguing.
6. Last Will and Testament and/or Revocable or Irrevocable Trust
Whether through a will or a trust, everyone needs a legally executed document to ensure their assets—such as a home, bank accounts, investments, and personal property—are properly distributed at death. While it’s uncomfortable to plan for, doing so saves time, money, and potential conflict for loved ones. A will requires heirs to go to court and to go through probate, which is costly and time-consuming. In contrast, a well-drafted trust allows assets to transfer directly according to its terms without court involvement or the need to hire an attorney. Trusts also provide control over how and when beneficiaries receive assets.
DO NOT DELAY – NO ONE CAN PLAN WHEN AN EMERGENCY MAY ARRIVE
PROTECT YOUR HEALTHCARE AND YOUR FINANCES