Tuesday, October 20, 2015

What Are The Most Important Things I Should Do Before I Die?

Woody Allen said it best....
"It's not that I'm afraid to die; I just don't want to be there when it happens."  

No one likes to think about their mortality, but in order to preserve our assets and our families' sanity, there are certain documents that we should, while still competent to do so, put in place.  There are many estate planning documents and options, but I typically advise people to, at a minimum, put into place five documents that will make life, and death in this case, much easier for all involved.

The Basic Estate Planning Documents

1.  Living Will
     Allows you to state your wishes regarding withdrawing life prolonging measures if you are                  terminally ill or permanently unconscious
2.  Last Will and Testament
     Allows you to determine who will inherit your property, who will take care of your children after        your death, and who is in charge of making sure these things are done according to your will
3.  Healthcare Power of Attorney
     Allows you to name someone to make healthcare decisions on your behalf if you can no longer            speak for yourself
4.  Durable Power of Attorney
     Allows you to name someone to act on your behalf in the event of your incapacity
5.  HIPAA Authorization
     Allows medical providers to release medical information on your behalf to the person you                    designated

These are all fairly simple, but important documents that will preserve your wishes, while helping your family cope with your incapacity and subsequent passing.  There are many other more complicated estate documents, and you should consult an attorney experienced in estate planning to help in these matters.


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