2015: Getting Your Affairs in Order
2015 is quickly approaching and making a New Years Resolution to get your affairs in order couldn’t come at a better time.
It’s important that your family has the proper authority to take care of your affairs, should anything happen to you by way of illness or otherwise.
Where to Start
It may seem like a daunting process, but it is one that needs to be taken care of and by getting a head start on it now, it won’t seem like much work at all. Here are a few tips that should help in the process.
- Put your important papers (more details on that later) including copies of all your legal documents in one place.
- Tell a trusted family member or friend where you have placed all those important documents
- Give consent in advance for your lawyer and doctors to speak on your behalf to possible caregivers.
Legal Documents Explained
There are many different types of legal documents that can assist in putting your affairs together. Keep in mind that state laws vary so you’ll need to find out about the rules, forms, and requirements that are used in your state.
Here is a brief description of the various documents you can use:
- Wills and Trusts – These allow you to name a person(s) you want your money and property to go to after you have passed away.
- Advanced Directives – These allow you to make arrangements on your behalf, should you become ill. There are two ways to do this:
- Advanced Health Care Directive – allows you say in your health care when you are too sick to make your wishes known. You can state exactly what kind of care you do and do not wish to receive. This is also a way to make it less difficult on your family members when the time comes to make tough health care decisions on your behalf.
- Durable power of attorney for health care – Allows you to name a person you wish to make medical decisions on your behalf when you cannot make them yourself. You want to choose someone that will be able and willing to make those decisions for you.
- General power of attorney – Allows you to give a person the authority to act on your behalf, but this power ceases if you are unable to make your own decisions.
- “Durable” power of attorney – Allows you to name a person to act on your behalf for a particular legal task. This power of attorney stays in place should you become unable to make your own decisions.
Getting A Head Start
There’s a lot of information to digest when getting your affairs in order, that’s why we’re here. We can help answer any questions you may have and offer free consultations. Give us a call, we can walk you through every step of the process.
~ Ronald Morton