Testamentary will a testamentary or self proving will sets forth one’s wishes regarding the distribution of property and the care of any minor children after…

Try: Testamentary will a testamentary or self proving will sets forth one’s wishes regarding the distribution of property and the care of any minor children after death this document should be prepared with the help of an attorney and signed in the presence of a witness living will also known as an advance directive a living will discloses what is wanted regarding life-prolonging medical treatments if a person is unable to speak for themselves the living will indicates which treatments are desired if a person suffers from a terminal illness or is in a permanent vegetative state a living will becomes effective only if the person is incapacitated which must be confirmed by doctor’s certification a living will is only used when ultimate recovery cannot happen health care proxy a health care proxy authorizes another individual to speak for someone and make medical decisions in situations when he is incapacitated and cannot speak for themselves the designated individual should be prepared to consider what the person they are speaking for would want in the given situation this means a conversation with the loved one before such a medical situation might happen durable power of attorney a durable power of attorney poa authorizes another individual to act and speak on someone’s behalf on financial matters if the person is physically and mentally unable to do so this individual is legally allowed to sign checks pay bills and manage assets in the person’s name durable means this individual maintains poa if the person is unhealthy and incapacitated and cannot speak for themselves in contrast a non-durable poa only exists while the person is sound in mind and health living trust especially important for people who have many different assets a living trust puts a person’s assets home bank accounts and stocks for example into the trust administered for their benefit during their lifetime and then transferred to their beneficiaries when they die there are several kinds of trusts that may need to be activated; an elder law attorney can help people understand their options and rights these documents are not useful if no one knows about them plus it’s a good idea to have more than one copy of each the originals can be kept at the elder law attorney’s office and copies in a safe place people should designate one outside person either a family member or trustworthy friend who knows where the documents are information references "guide to legal and financial planning needs of seniors" by homewatch care givers available at www homewatchcaregivers com

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Categories: Sage, Topic, Financial, Legal, Medical Physical

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Keywords: Law legal issues attorney lawyer health care will estate

*This information is listed as a Fact Sheet and is not explicitly medically licensed

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