Life Planning Documents You Need

Effective estate planning goes beyond choosing a Will or Trust. Additional legal documents can protect you from life’s uncertainties and ensure your loved ones are secure. An experienced estate planning attorney can explain which documents you need to accomplish your estate planning goals.

Statutory Durable Power of Attorney

A statutory durable power of attorney—sometimes called a general power of attorney—authorizes another person (the agent) to act for you in financial matters. This may include buying or selling property, managing investments, or paying bills. This power can be as broad or limited as you choose, but it does not cover healthcare decisions. You may name multiple agents to serve together or as alternates. A durable power of attorney becomes critical if you ever become incapacitated and unable to manage your assets.

Medical Power of Attorney

A medical power of attorney (or healthcare power of attorney) lets you appoint someone to make healthcare decisions for you if you cannot do so yourself. It only applies to medical matters and ensures your trusted agent can direct care in accordance with your wishes.

Declaration of Guardian for Minor Children

This document names the person or people who will care for your minor children if you pass away before they reach adulthood. It allows you—not a court—to decide who is best suited to raise your children and provide stability during a difficult time.

Declaration of Guardian for You

You can also name a guardian for yourself in case a court later finds you incapacitated. This document lets you choose:

• A guardian of the person, who makes medical and personal living decisions

• A guardian of the estate, who manages your finances and property

You can designate one person for both roles or assign each role separately.

Directive to Physicians

A directive to physicians is also referred to as a living will. It is similar to a medical power of attorney but differs in two important ways:

1. It applies only in the event that your condition is terminal or irreversible, and
2. It only directs doctors and other healthcare professionals in providing life-sustaining treatment and nothing else.

Because they serve different purposes, having a medical power of attorney and a directive to physicians is a good idea. However, ensuring the documents are consistent and do not conflict is important.

Universal HIPAA

A universal HIPAA form allows sensitive healthcare information to be disclosed to the persons listed in order to comply with the Health Insurance Portability and Accountability Act (HIPAA) of 1996. Without it, the family members or other persons authorized to make healthcare decisions on your behalf may not be able to get the information they need to make the right decisions.

Talk to an Estate Planning Attorney at J Nichols Law, PLLC Today

Estate planning is more than filling out forms—it is about identifying needs and potential risks and then developing a personalized plan that involves getting the right documents in place so that your interests are fully protected. To discuss how we can help you create a holistic estate plan, call us today at 409-257-7878 or contact us online to schedule a consultation.