An estate plan is advisable for every adult and should contain at least three documents:
1) a Last Will and testament;
2) an Advance Directive for Medical Care; and
3) A Durable General Power of Attorney.
The Will is for when you die and the Advance Directive and Power of Attorney are for when you are alive but disabled and unable to act on your own behalf. All three are important to have.
Last Will and Testament
This is a document that states how you want your property distributed after you die. If you have minor children in your family, a Will is the place to name your choice of legal guardian and trustee for those children. If you have grandma's china or a 1960s collectable car, a Will is a place to stipulate who will receive those special irreplaceable items and thus, stifle any dispute.
If you are single person with no children and few assets, then a simple Will may be right for you. However, more complex family situations or someone with large financial accounts or personal items to distribute may require the assistance of an attorney who can help draft the legal language and make sure your wishes are clearly considered and stated.
Living Will (Advance Directive for Medical Care)
A Living Will is a document stating your desire for your health care should you become disabled and not be able to speak for yourself. Most hospitals will now ask an incoming patient or patient's Agent for a Living Will before they treat a patient. Our blog post, 5 Reasons to Have a Medical Advance Directive, goes into more detail about the Advance Directive for Medical Care and how beneficial it is to have one in your estate plan.
Financial Durable General Power of Attorney
A Financial Durable General Power of Attorney is a document that allows a person of your choosing whom you trust to oversee your financial affairs when you are unable to do so. Since someone who is named as a Financial Power of Attorney has access to your accounts, it is very important to name a person you trust. In most cases, the term "Durable" means that the Power of Attorneys document will remain in effect even if you become disabled.
You can protect your family and appoint a guardian and trustee for your minor children very easily by doing a simple will. All it takes is a phone call or text to Serra Law Group (908) 534-1985.
Our on-line platform called Smart Law eliminates the hassle of schlepping into an attorney's office like in the old days and streamlines the intake process, so you never have to leave your home. And it can all be done in the palm of your hand on your phone at a fraction of the cost of a traditional law firm. The gap between knowing and doing has never been slimmer!
Act now and feel good you did something extremely important for the protection of your family.
Why use a form when you can have a firm!
Book Your Free Consultation with us today!