What is an Estate Plan?
When we say estate plan, it's your Will. Your Will is the document that says, "I want my husband to collect all of my assets, and I want my assets distributed to my husband and children". There are also other important documents that are included in a Estate Plan:
Statutory Durable Power of Attorney: which is your Power of Attorney for your finances. This document can help if you're incapacitated for any reason or if you're not able to make your own decisions, who do you want to step into your shoes to make those decisions. If you do not have those documents in place, it's a judge who decides who makes those decisions on your behalf.
Power of Attorney for Health Care: Again, if you're unable to make your own decisions, who do you want to make your medical decisions on your behalf? If you need surgery, if you need medication, and you cannot make those decisions for yourself, you want to be the one to control who makes those decisions for you. You don't want the judge to make that determination.
Directive to Physicians: also known as the Living Will. That's the document that states whether or not you want to be hooked up to any life support or what life sustaining measures or treatments you want to maintain your life.
HIPAA Authorization: We all have our right to privacy of our medical records, but there are some instances where you may not be able to give that consent to the doctor or to the hospital to release your medical records. With this document, it's called a HIPAA Authorization, you're letting the doctor and the hospital know who the people are that can get to those medical records.
Learn about our Will Packages that include these documents plus additional documents that could benefit you.