09/21/2020
Essential Estate Planning Documents During Covid-19
The only wrong decision you can make is to keep putting this off
With the outbreak of Covid-19 it is even more essential to make sure that you have your estate documents in order. Unfortunately a lot of people do not know what documents are available or how to go about obtaining them.
A (very) short primer on estate documents.
Living Will/Medical Directive:
This document allows the doctors to know your wishes about what treatments and procedures (pain relief, feeding tubes, breathing assistance, etc) you do and do not want if you are in a physical state that makes it impossible for you to communicate with the physicians.
Healthcare Power of Attorney:
This document appoints a person of your choice the legal power to "stand in your shoes" and direct the healthcare providers in the measures that can and cannot provide.
Financial Power of Attorney:
This document appoints a person the legal power to take over your financial affairs (pay rent and bills, control your investments, etc) when you can no longer do so yourself. You can give a person as much or as little control over your affairs as you wish. There can be severe consequences for anyone who mishandles a persons financial affairs and knowing this helps a lot of people feel more comfortable about creating this document.
Last Will and Testament:
The one that everyone has heard about. This document directs, among other things, how a person wants their possessions disbursed when they have passed away. There is a lot to think about when creating your Will.
For assistance of questions feel free to contact me.
