5 Different Ways To Plan For Your Estate

As an adult of any age, it is a good idea to have your estate plan in writing. Your estate plan should consist of a durable power of attorney, a release of information form, advanced directives, a living will, and a regular will.

1. Durable Power of Attorney

You want to have more than a power of attorney in place, you want to have a durable power of attorney in place. With a durable power of attorney, the document is valid even if you are unable to make decisions for yourself and are incapacitated.

Your power of attorney allows a person that you select to act in your place for you. This allows them to take care of matters such as paying your bills or taking care of your medical care. Think carefully about who you appoint as your durable power of attorney, because this individual will be in charge of your finances and making medical decisions for you when you are unable to do so.

2. A Release of Information Form

You want to make sure that your power of attorney, and other important people in your life, are able to get the information they need about your medical condition should you get ill before you pass away. With a release of information act, you can clearly spell out everyone who your doctors have permission to share your medical information with if you are unable to convey this information for any reason.

3. Advanced Directive

An advanced directive, also known as a durable power of attorney for health care, can be different than your power of attorney if you want it to be. This person is responsible for making medical decisions for you.

4. Living Will

A living will come into play when you are alive, but unable to speak for yourself. It allows you to share with your doctors exactly how you want to be treated and what type of care you want to receive in various life-threatening situations.

5. Will

Finally, you want to have a will in place. A will will allow you to convey what you what to happen to your personal property and belongings when you pass away. This is also where you can let your family know what you would like to happen to your body after you die, how you want to be celebrated, and if you have already paid for funeral arrangements.

You don't need to be rich to have an estate plan. Every adult should have an estate plan so that it is clear who you want to take care of your finances and medical decisions should you become gravely ill or injured. An estate plan ensures that your estate and wishes are honored. To learn more, contact a law firm like Skeen Law Offices.