All of Your Legal Wills, Guardianship, and Probate Needs
The following general information will give you an idea of some of the different types of documents used in estate planning.
Will - A will is a basic estate planning tool used to pass property from you to the people and organizations that you want to receive your property. It can be as simple as stating that you want all your property to go to your spouse or it can be very complex and contain special gifts to individuals or organizations and tax planning. A will can also contain provisions for minor children and should name the minor children's guardian. This document will also name the personal representative with the authority to distribute your estate.
Power of Attorney - There are circumstances in life when you may need to give another person authority to deal with your property whether or not you are still able to do so yourself. A power of attorney document can be tailored to your needs. It can become effective whenever you specify and gives the attorney-in-fact limited or unlimited authority to act. This document is especially helpful if you become physically or mentally incapacitated. The attorney-in-fact would then be able to carry on your affairs as you have specified.
Health Care Directives - Many people have referred to this document as a Living Will. A health care directive authorizes a health care provider to follow your wishes in the event of a medical crises. An attorney-in-fact can be named and given authority to supervise your medical care. This document also indicates what, if any, life saving measure you desire to be taken and in what circumstances they should be considered.
By planning ahead, you can have the peace of mind that your family will be provided for, your children remembered and your special desires fulfilled. These are important decisions. Together with your attorney, you can see that these decisions are carried out.
For further questions, contact Janet K. Huson today.
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