Living Will and Power of Attorney

 LIVING WILL
A  living will is a document that outlines specific medical instructions  to be applied if you are alive but are unable to communicate your wishes  for yourself. Living wills have nothing to do with property  distribution after your death.  Instead this document states what you  want (or do not) want as far as medical treatment or intervention. For  example,

 1. You become terminally ill and will die shortly without life support; or
 2. You fall into an irreversible coma or persistent vegetative state.
 

 These are difficult decisions that you don’t want your loved ones to  make on your behalf. Make them now as part of a living will to spare  them the anxiety of these end-of-life decisions.

POWER OF ATTORNEY
The  Power of Attorney works in conjunction with your will, and living will  to identify the individual(s) authorized to make decisions on your  behalf should you become incapacitated. Without a named Power  of Attorney, your loved ones must go through a legal proceeding to gain  authorization to handle your affairs. Spare them this arduous process by  naming a Power of Attorney.

A Power of Attorney  can make sure bills are paid, banking deposits are made, and medical  insurance, and benefits paper work are current? Other tasks a Power of  Attorney can handle include:

  • pay bills, 
  • sign a deed to transfer property, 
  • Sign  contracts, or decide other important matters. A power of attorney may  be required to get access to joint accounts and conduct other business.  Without a power of attorney, the relative, parent, or interested party  must begin legal proceedings to be appointed as guardian of the  incapacitated person.
  • Access to important documents 
  • Will, Living Wills and Power of Attorney Documents
  • Trusts
  • Insurance policies
  • Real estate deeds
  • Certificates for stocks, bonds, annuities
  • Information on bank accounts, mutual funds, and safe deposit boxes
  • Information on retirement plans, 401(k) accounts, or IRAs
  • Information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes
  • Information on prepayment plans, and any final arrangements instructions you have made.

LC  Advisor can work with your legal counsel and determine the best course  of action based on your personal and or family circumstances.