Three Legal Documents All Seniors Should Have
August 20, 2018
Dealing with legal documents might not sound like fun but being prepared is essential. There are several important legal documents you should have together in case something happens. These documents ensure your wishes are carried out as you would like them. You may already have taken some time to set up one or more of them, but it’s as important to keep them up to date as it is to create them. So, what exactly are these documents, and why are they so important? Let’s dive deeper: Last will and testament - A will provides clarification for your wishes regarding your real and personal assets. This document ensures that when you pass away, all your assets are distributed the way you’d like. This is especially important if you have a lot of assets or have no other legal protections for them. Living will- A living will, sometimes called an advanced directive, allows you to state your wishes for end-of-life medical care in the event you are unable to communicate those wishes yourself. This becomes an invaluable document should something happen, as it provides guidance to those close to you regarding your health care. A living will document allows you to disclose your preferences regarding palliative care and your stance on certain life-sustaining medical practices. Durable power of attorney- A durable power of attorney document often goes hand in hand with a living will. This document appoints someone to carry out the instructions the living will sets forth. This person becomes your acting “agent” and informs health care professionals of your requests. While a multitude of legal documents may be appropriate for your personal situation, these three cover your primary needs. The way you structure these documents and the information you provide is entirely up to you. We recommend you consult an Elder Law Attorney or Estate Planner. Your local Oasis Advisor will help you identify the professional in your area that will fit your needs and help you get these essential documents in order.