Simple estate planning is a must.
Do you have a will? A power of attorney? A durable medical power of attorney? A living will? These are all good things to have, like insurance, because if you don't have them when you need them, it may be too late.
A will provides for how you want your property to be divided once you pass away. It also contemplates the nomination of a trustee in the event a gift goes to someone who is a minor or incompetent by law. It can include provisions with respect to appointing a guardian for any minor child you have in the event the other natural parent does not survive you. And in includes terms with respect to nomination of your executor - the one who "executes" your will.
A power of attorney confers the ability to alter your legal rights and obligations vis-a-vis third parties upon an agent, who is charged with acting according to your wishes. POAs can be helpful in the event you are sidelined for whatever reason.
A durable medical power of attorney confers the ability to make medical decisions upon your agent or agents in the event you are unable to do so. Such an instrument is useful for making medical decisions for you in the event you are not competent to do so for yourself - for example, if you were unconscious.
A living will declares your wishes in the event that you are terminally ill or in a permanently vegetative state and your treating physician, after consultation with another, determines that continuation of treatment (other than palliative care) will do nothing to reverse the condition. Essentially, your living will instructs your agents, your family, and your medical provider as to whether or not you want to be allowed to expire naturally.
If you don't have these simple instruments in place, contact Gray and Duning to make an appointment. For simple wills as well as other estate planning instruments, we can provide your legal services on the same day. If you call before the close of business on this February 26, to set up an appointment and mention LinkedIn, we'll draft a simple will, power of attorney, durable medical power of attorney and living will for you for $450.00. The appointment will last no more than two hours and you'll leave with basic estate planning documents in place. Contact Tia at (513) 932-2871 to set up an appointment.