We recommend that you make sure you have protected yourself and your loved ones by creating your must-have documents: a will, a living revocable trust, a financial power of attorney and an advance directive and power of attorney for health care.
For some of us, issues related to becoming ill, or ultimately dying, can be so very hard to confront. However, for those who have yet to create your must-have documents, you may be able to use this Covid-19 crisis as the motivation to finally get everything set up. there is so much that is out of our control in the midst of this pandemic. but we are not powerless. we have been embracing the vital importance of social distancing. this is how we are helping ourselves, our families, our neighbours and our communities.
Creating your must have documents is another way you can do something right now to calm some of your fears of what may happen if you were to become very ill, or die. The must-have documents ensure that caring for you, and surviving you, will be as seamless as possible for your loved ones. We hope beyond anything, that your loved ones will not need these documents for many years. But if there was a time to “hope for the best and plan for the worst”this is it. Right?
- An advance directive and health care power of attorney. The power of attorney portion will appoint the person you want to carry out your wishes if you become too ill to convey to medical caregivers what level of care you want. You can also create an advance directive where you spell out your medical care wishes. Do you want to be put on life support? Fed intravenously? These are difficult questions to ponder, but if you don’t spell this out, you are opening the door to family anguish and potentially, arguments.
- Financial power of attorney. This appoints someone to step in and help manage your bills and investments if you ever become too ill.
- A will. Not all your assets can or should be made a part of your trust. A will is where you spell out who is to inherit certain possessions – the china, the record collection, jewelry etc – when you pass. A will is also imperative if you have minor children; it is where you designate their guardian.
Are you ready to finally take care of these important documents? Don’t delay, talk to your family and professional advisers to help you get these must-have documents in place.