Many people understand the importance of having a last will and testament
, but fail to consider the importance of planning for the possibility of incompetence. In addition to a last will, you may need a power of attorney
to govern your financial matters, as well as a living will
(or other advance medical directive
such as a health care power of attorney) to state your preferences for circumstances when you are unable to give informed consent. In general, these documents ensure that your loved ones are aware of your desires, and the choices you think are important.
To help your family handle your financial affairs upon your incompetency or death, create a list of your assets and liabilities. This could save them many hours of searching, and reduce the potential that assets may be overlooked. A list of life insurance policies is also helpful.
Providing a statement of your preferences regarding final arrangements, memorial
services, and biographical information for an obituary can greatly ease the burden on your family.
Get Started Create your Last Will and Testament Answer a few questions. We'll take care of the rest
Get Started Create your Last Will and Testament Answer a few questions. We'll take care of the rest.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.