As we get ready to start a new year, attention is turned to setting goals and resolutions. One goal you may want to consider for 2020 is getting your legal affairs in order. Preparing vital legal documents will help you to be ready for life emergencies and unforeseen events. Three of the top legal documents that should be a part of everyone’s legal life strategy are will, living will, and power of attorney forms.
A will is a legal document that lets you communicate your last wishes regarding distribution of your possessions, such as cars, home, money, and other items, to the people who you want to receive these assets upon your death. It also lets you appoint a guardian for minor children.
A living will is a document that enables you to express in writing what type of medical treatment you want in the event you are no longer capable of making decisions yourself. The living will lets you decide in advance if you want your life to being artificially prolonged by various medical procedures and equipment.
With a power of attorney form, you can appoint a trusted person to be your agent to handle financial, health, property or other matters when you cannot take care of things yourself.
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LegalLife Legacy Bundle Special
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LegalLife Resource Center –As a public service, the LegalLife™ Resource Center contains free information and resources to assist you in understanding and organizing legal aspects of your life. Whether you are single, married, have children, are widowed or divorced, legal planning is important. Use our checklists and online tools to get your legal affairs organized today. Learn More
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Letter of Instruction
A letter of instruction is not a formal legal document, but simply a list of instructions for people to follow when you are sick or have died. It includes, but is not limited to the following – location of important documents, contact list of close family members or loved ones, burial preferences, favorite charities, hospital preferences, current list of financial assets and debts, list of insurance policies, list of investments, location of property deeds, and personal resources contact information such as family doctor, family attorney, family stockbroker, religious leader and house of worship.
For more legal definitions, please visit our free online legal dictionary at http://www.uslegalforms.com/legaldefinitions/.