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Simple Will
Most folks know that a will is an important legal document. They plan to have a will drawn up some day. It can be easy to procrastinate about having a will made. People expect it to be a time consuming, paper shuffling hassle. Or they think, "I am not old yet, I'm in good health, and I really don't have a lot of property."
Rationalizations like these can lead to unnecessary court reviews and heartache should the "unthinkable" happen. Making a simple will doesn't take much time and is easy to do through First Sun EAP. A simple will handles the basics of distributing your property in the most elementary form. It notes your choice of guardian for your children and it names your selection of a representative to see that your wishes are carried out. A simple will is a modest and elementary document that addresses the needs of a majority of families.
Consider updating your will for the following reasons:
- Marriage
- Birth of children/child
- Divorce
- Separation
- Change in wealth
- Change in laws
- Change in health
- Death of an executor or beneficiary
- Sale of a business
- Major Purchase
Living Will
A living will states your wishes about what medical treatment should be withheld or provided to you if you become unable to speak for yourself. This is a legal contract with the attending doctor. Once the doctor receives the formal living will, he or she is bound to honor its instructions or to make sure you are transferred to the care of another doctor who will. Making decisions now about your healthcare wishes could prevent heartache for your loved ones should something happen to you.
Power Of Attorney
There are two types of power of attorney: general power of attorney and durable power of attorney for health care.
General Power of Attorney. A general power of attorney document appoints an individual to act on your behalf for legal or financial matters. For example, the person named in this document can: dispose of your property, collect your debts, endorse your checks, execute government vouchers, deposit money or other property, borrow money, acquire property, recover possession of property, institute or defend lawsuits, prepare and file tax returns and transfer title to automobiles. General power of attorney is helpful for folks that are elderly, disabled or are considered incompetent.
Durable Power of Attorney for Health Care. You may designate an individual to make health care decisions for you when you are no longer capable of making them yourself. Your agent may consent, refuse to consent, or withdraw consent to medical treatment and may make decisions about withdrawing or withholding life-sustaining treatment. You reserve the right to make health care decisions for yourself as long as you are able to give informed consent with respect to a particular decision. In addition, no treatment may be give to you over your objection. You have the right to revoke the authority granted to your agent by informing him or her or your health care provider orally or in writing.
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