Wills and Trusts
Almost everyone should have a will, a durable power of attorney, and a health care proxy. Depending on the size of your estate, a trust may also be appropriate.
Last Will & Testament: A will is a legal document that states how a person wants their property distributed after their death. It is important for everyone to have a will, regardless of the size of the estate, so that assets will be distributed according to your wishes. If you die without a will, the court will appoint an administrator to oversee the distribution process and they may or may not proceed according to your plan.
Durable Power of Attorney: A power of attorney names another person as your agent to act on your behalf in your affairs, including paying bills, contracting for medical services, and selling property. It should be a legal, written document. A durable power of attorney contains wording to the effect of, “This power of attorney shall not be affected by my disability.” It allows your agent, whether a spouse or an attorney or a friend, to conduct business and financial transactions on your behalf, whether or not you are mentally competent or physically capable.
Health Care Proxy: A health care proxy is a written document that appoints a health care agent to make medical or health care decisions on your behalf when you are incapacitated. If you regain the ability to communicate your wishes, the authority of the health care proxy reverts back to you.
Living Will: A living will is a legal document that tells others your preferences for medical treatment should you become incapacitated. This document instructs your health care providers and family members about how to handle medical treatments that prolong your life.
Living Trust: A living trust is a legal document that holds and distributes your assets in a way that eases the probate process.
Our job is to help you sort through the maze of laws and develop a plan that will allow you to live your life and distribute your assets in the way you choose. To set up a consultation, call 508-853-1900.
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