End-of-life documents are legally-binding documents that spell out your wishes in the event you become incapacitated, disabled or die. If you don’t yet have these documents in place, it’s important to get started and we’d like to help. As the saying goes, “No one gets out of here alive.”
End-of-life documents can include:
Last Will & Testament
Most people are familiar with wills, if only from watching legal drama shows on TV. If you have children or assets, you should at least have a will. Thewill needs to be properly signed and witnessed, but creating a will is a relatively simple process.
Trusts – Revocable, Irrevocable, Special Needs, Supplemental Needs
More detail is covered in our trust planning section, but trusts can be created for a variety of purposes, including asset protection, avoiding probate and to ensure care for a minor or a disabled / incapacitated individual.
Living Will/Declaration to Physicians
A living will, also referred to as a declaration to physicians, states whether you want life-saving, life-sustaining treatment if you are incapacitated and in a terminal condition or persistent vegetative state.
Health Care Power of Attorney
A health care power of attorney gives someone else the authority to make decisions about your health care if you are unable to do so.
Durable Power of Attorney
This document provides authorization for someone else to manage your financial affairs and property on your behalf.
While this might be included in your Last Will & Testament, you may need separate guardianship documents to authorize action on behalf of people who are disabled, incompetent, temporarily under your care or in protective services. Guardianship can be either permanent or temporary.
Business Succession Plans
If you are in a partnership or own a business, what will happen to the business if you are incapacitated or you die? Will it go to your spouse or to your business partner? A business succession plan can ensure operations continue to run smoothly without you, and the business and the value of the business can be transferred to the designees of your choice.
Don’t wait to get your wishes in writing! Let us help you get this task off your to-do list, so you can breathe easier, knowing your family and business will be protected. Give us a call.