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Estate Planning
SIMPLE WILL
A Will allows you to control the disposition of your
property, money and other assets upon your death, protects
your loved ones by providing for them after your death,
chooses a person to be in charge of distributing your assets
to your beneficiaries, selects a guardian for your children, and minimizes or
eliminates family feuds over your assets by making your
intentions clear.
LIVING WILL
This
document is often referred to as a Health Care Directive.
It informs your family, friends, physicians and caretakers
of your wish to either be kept alive by the use of
life-sustaining treatments or of your wish to die with
dignity (i.e. no life-sustaining treatments) in the unfortunate
event that you are in terminal state.
GENERAL DURABLE POWER OF ATTORNEY
This document allows you to select someone
that you trust as your attorney-in-fact to make legal,
financial and property-related decisions on your behalf in
the event that you become incompetent or cannot otherwise do
so on your own.
POWER OF ATTORNEY FOR HEALTH CARE DECISIONS
This document allows you to select someone that you trust as
your attorney-in-fact to make any and all health-related
decisions on your behalf in the event that
you become incompetent or cannot otherwise do so on your
own.
HIPAA AUTHORIZATION FORM
This form allows you to
list which of your friends and
family will be able to obtain information about your health
care from your medical providers in the event that you are
unable to communicate such authorization to the medical
provider on your own. HIPAA is a federal regulation that
requires all doctors (and other medical providers) to have a
signed authorization form in order to release your medical
information to others – even to your spouse and children.
REVOCABLE LIVING TRUST
A revocable living trust gives you
complete control over your assets while you are alive and
competent. During your life, you may sell, manage,
gift or do anything else you'd like to with your property
and you may revoke or amend your living trust. Upon
death, your trust will become irrevocable so that others
must respect your testamentary wishes. A revocable living trust allows all
of your assets to avoid probate which can save your estate
money. By avoiding probate, you can also keep the
financial details of your estate confidential. This type
of trust is commonly recommended for those owning property in
two states.
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