Will, Living Will, Medical Power of Attorney, Etc, Etc

July 31, 2009 — Well it's the end of July and time to get some personal issues in order. Anyone, regardless of age, that has any sort of possessions and family, whether or not it's a spouse, children, siblings, or maybe friends or maybe belongs or supports a charitable organization should have a will. There is plenty of inexpensive software on the market that very easily leads an individual through the process of creating a will that will conform to the laws of the state in which they reside. I would recommend the use of such software if your estate is not complicated with things like trusts, investments, and the like. If that is the case, then an attorney should be consulted in the writing of a will. It could also be important to discuss your will with a tax consultant as estate taxes could create a headache for your beneficiaries if you are not careful. I found this out rather indirectly, but at least I found it out. The Executor you choose for handling your will and estate is very important. It is wise to choose someone you have complete trust in as it is their job to see that the terms of a will are carried out. I am lucky as I have a family member that I trust and have confidence in that has agreed to be my Executor. I know she will do the right thing. Having a basic understanding about the probate laws in your state is important also. Probate is basically the act of filing your will in court and the court then supervising the Executor in seeing that the terms of the will are carried out. I think in some cases you can avoid probate and that I understand could be a good thing. Regardless, it pays to know and probate laws varies from state to state. Well you might say what is the big deal. If you are dead...what does it matter. When I hear that, and I have, I think how very narrow minded and uncaring that person is about their loved ones. Now I am not an attorney, but I do know it is important to have a will.

A Living Will and Medical Power of Attorney work sort of hand-in-hand. A Living Will dictates to a medical entity what is to be done in certain situations if you become medically incapacitated. In other words how far do you want medical personnel to go when intervening on your health issues. A Medical Power of Attorney gives someone your expressed consent to make medical decisions for you should you be unable to do so. Again, it is wise to choose someone that you have complete trust and faith in. Your state may not require documents such as these to be notarized, but that does not necessarily preclude a medical facility or professional from requiring that they be notarized. So, notarize if it is available in your state.

End of Life Instructions (EOLI) could be important. Again, your dead so does it matter? Well yes it does. This could save your loved ones a lot of grief in deciding how to carry out your burial during a very emotional time and your loved ones are grieving. Give'em a break and put together an EOLI. It will help them immensely and ease their pain. Don't forget to choose wisely in who is to carry out these EOLI's and have the document notarized if applicable.

Well there you have it...one layman's take on these issues. Think about all of this...it's what really matters!