![]() ![]() Life insurance and bank/retirement accounts Note that some jurisdictions use the comprehensive term, "advance directive," to refer to the health care proxy/power of attorney plus the living will.Ĥ. In any event, since a "durable" power of attorney takes effect automatically if you become incapacitated and requires no court involvement, having a durable power of attorney is advised. You may choose to have different people act on your behalf for financial matters and for health care, or you can name one person to handle everything. A DNR must be signed by your physician following a consultation with you or your representative.Ī power of attorney or POA is a document that gives someone the authority to make decisions on your behalf. You may also wish to have a Do Not Resuscitate (DNR) order, which is separate from a living will, placed in your medical chart. Common issues addressed in living wills include the use of feeding and breathing tubes, and other end-of-life care decisions. You can also name a guardian for minor children in a will.Ī living will provides instructions to be followed for medical care if you become incapable of expressing your wishes yourself. Accordingly, you should make a list of all of your real and personal property, as well as specify the beneficiaries you want to receive your assets. If you die without a will, you will die "intestate", and state law will determine the fate of your assets. The executor should be someone you trust and who is willing to accept the responsibility. In a will, the testator names an executor to carry out the distribution of the estate. The core of any estate plan is the last will and testament, which details where the testator (the person writing the will) would like his property to go after his death. ![]() You may not need all of the documents discussed, but by considering the items on this list, you can get the process moving. With a solid estate plan, you can make your wishes clear and handpick the people you want to be responsible for both handling your estate and making decisions on your behalf.īelow is a short estate planning checklist. No matter your age or financial status, having a comprehensive estate plan is a must.Īn estate plan allows you to express what you want to happen should you become incapacitated, as well as make sure your possessions end up in the right hands after your death.
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