Basic Legacy Planning Documents

I will list the basic legacy documents here, just because it feels right. However, there is no need to get hung up, confused, intimidated or overwhelmed because you don’t understand them or because you don’t know what they are. Why would you really understand them, unless you are a lawyer or have been studying estate planning for some odd reason? Here they are

Last Will and Testament

Your will can designate guardians for minor children, can designate how assets are to be distributed and can help keep families out of conflict. This should be a dynamic document updated regularly as your family changes and evolves. A last will and testament does not avoid probate and is limited in that it plans for death only. This is a must-have. You will decide if you want to use a will to distribute your assets or if you will use it to create a trust that will distribute your assets. You have a few options here. The point is you need to have one regardless of how basic you make it. The document alone will save your family lots of time and attorney fees. 

Health Care Power of Attorney

This power of attorney allows your designated representative to make healthcare choices on your behalf. You should discuss your desires with this person so that they are making decisions based on your desires. They will feel less stress knowing they are doing what you want them to do and not deciding on their own. They can decide on care providers, choose facilities to care for you, consent to surgical procedures, accept or decline medication, and decide when to end artificial life-sustaining procedures. 

 Durable Power of Attorney Over Property, aka Financial Power of Attorney

This power of attorney allows a designated person to take control of your property. They will have the power to do things like file your income tax return, get your mail, speak to your human resources department, and deposit and withdraw funds to and from your bank account. 

Living Will

A living will memorializes your end-of-life choices. Two situations are addressed here. First, you will decide and document what you want to happen if you are in a consistent vegetative state with no real chance of recovery. Will you want hydration and artificial support removed? The second decision to be made is if you should have a terminal condition with no real chance of recovery, do you want artificial support and/or hydration removed? You will make these choices preemptively. You will also determine if you want to donate your organs if you want last rights administered, and if there is anything else you may want or not want to occur. 

HIPAA Authorization

HIPAA laws protect the privacy of our medical information. Hospitals and physicians cannot share your medical information with anyone without your authorization. The HIPAA authorization grants authorization for hospitals and physicians to share your medical information with designated individuals. It is important to authorize anyone with whom you want to have your information shared.

Final Instructions

Final Instructions is a document that tells your family how to proceed once you are no longer living your best life. You can give instructions on whether you want to be buried or cremated. You can decide if you want your ashes in an urn to be given to your daughter, or if you want