Family and personal FAQs
The first thing you need to do is to collect a complete list of your assets and debts. Secondly, you'll need to think about how you might want your estate distributed after you die and who might best be the one to manage your estate. Once you have gathered this information, you may choose to contact a lawyer or to start your estate planning on your own. If your estate is not complicated and you don't expect anyone to challenge your Will, you can likely write your Will and other documents yourself using your Rocket Lawyer account.
If you want to stay in your home as long as possible, it is important to define how you want your home managed your last years and after. If you don't, your heirs may end up in court litigating over what is to happen to the property. There may be issues over who they think is owed the inheritance or they may argue over whether it should be sold or kept in the family. It may even surprise you to learn, that no one may want the house and they just would sell it as soon as possible. Either way, if you don't take care of it now, someone else will decide for you.
If you are not sure what you want to do with your home but do know you want to live in it as long as possible, you should contact an estate attorney. Your lawyer can help you figure out the best way to secure the future of your home, which may be by including it in a trust or a Will.
When your child turns 18 most of your parental rights expire. You are no longer legally allowed to view their private medical information and you cannot make financial decisions for them. You can't make life-changing choices for them anymore such as selecting the school they will attend or stop them (or make them) join the military services.
There may still be times when they need your help though. For example, if they are incapacitated and cannot make medical choices for themselves. After your children turn of age, you may want to schedule a time to sit down with them and help them make the legal documents that need to help them in the event of an emergency.
Healthcare Power of Attorney
A Healthcare Power of Attorney (POA) allows your child to assign someone to make medical choices for them should they become incapacitated. This document becomes important if they become injured, suffer a major illness, or if they require a major surgery.
A Living Will often called an Advance Health Care Directive, is a document that outlines what life-saving or life-prolonging measures they want to be performed in an attempt to keep them alive.
Power of Attorney
A Power of Attorney allows your child to appoint someone to manage their finances should they become unable to or simply don't want to.