Last Will and Testament
Having a Will drafted is one of the best ways you can provide for your family. A Will is something that is almost never pressing and never a major concern until it becomes vital. Unfortunately, by then, it is likely too late. That is why it is highly important that you have a legally binding Will drafted today. If it is not legally binding, your Will has the possibility of not being followed at all. If you want certain heirlooms or possessions passed on to specific family members, you need to detail this in a Will. There are hundreds of articles on families falling apart in bitter disputes over who inherits what or how much someone is entitled.
It is always better to head these off in advance. By having a legal Will drafted by an attorney, you can ensure your wishes are carried out if the worst should come to pass. If you like, you can have certain provisions put into a Will as well. For example, if you want to pass on a sum of money to a grandchild when they turn 18, a Will allows you to do so. Without a Will, that money would not have a clear purpose, and might be passed on to other family members, never seeing your grandchild.
Power of Attorney
Power of Attorney grants a person of your choice the right to act on your behalf in legal matters if necessary. If you are incapacitated and an important decision needs to be made, this agent can make those decisions. Typically power of attorney is granted to a person close to you- a spouse or parent, for example. They are called your agent. The classic example of needing an agent is a coma. If someone falls into a long-term coma, their agent must make the decision whether or not to continue life support. You want to make sure someone you trust, and only them, are making this call. Without an agent, it is difficult to predict who will ultimately be making that decision. Given how decision may determine whether you live or die, you want to know exactly who will be making it. An agent is also granted the right to request a ‘Do Not Resuscitate’ order if you are in an emergency situation and cannot communicate.
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