WILLS/ POWER OF ATTORNEY/ LIVING WILLS
Your 鬬ﲠ᳴ Testament帰resses your last wishes. It is an integral part of a complete estate plan. A lawyer prepared Will is essential for many reasons. There are certain formal requirements which must be complied with for the Will to be valid. Wording must also be precise to avoid ambiguity. Once you have passed away, you are no longer here to resolve problems created for your loved ones. To avoid these problems it is recommended that you have a lawyer draft your Will for you. A lawyer will also be able to help you with estate and tax planning.
A Will will help your loved ones (and the court) know who you choose to be your
"estate trustee" (formerly "Executor"), who you choose to be a guardian of your minor children, and who will inherit your property and at what age and under what conditions (if any). It gives your family the best gift at a stressful time and the best gift to yourself now- peace of mind.
A Will is not "effective" until the death of the maker. As long as the testator is mentally competent, he or she can change the Will. A periodic review also makes good sense. Changes in circumstances may suggest reason for a revised Will. These include births, deaths, marriage, dissolution of marriage, tax law amendments, or sometimes changes in the nature and extent of property owned.
POWERS OF ATTORNEY:
A Power of Attorney allows for you to choose a "substitute decision
maker" to make decisions for you, on your behalf. There is a Continuing Power of Attorney for Property which deals with financial decisions, or property decisions. There is also a Power of Attorney for Personal Care which deals with personal care and health/medical decisions. Your Powers of Attorney are effective even when you are mentally incapable of making your own decisions. However, they are no longer effective on death. Therefore, it is important to have a Will and Powers of Attorney as part of a complete plan.
A Living Will usually goes hand in hand with your Powers of Attorney. It is a document which expresses your wishes if you should become incapable of making your own decisions. Quite often a Living Will is to put in writing
one's intentions regarding life support.
If you need a Will and/or Powers of Attorney, please call the office at 807-223-5550.