Wills & POA’s

CLASSI~1

Do you need to create or update a Will?

What should be included in a will?
Your will should state who gets what from your savings and property, including your home, investments and cash. It should cover all the things you own, such as cars, furniture, pictures and jewelry.  
Writing a will can be stressful but not having one can leave your dependents in a difficult position. Not having a will can add stress to your dependents at trying time and can pose serious tax implications as well. 
What is and do you need a Power of Attorney?
A Power of Attorney is a legal document in which you give someone you trust (called the “attorney”) the right to make decisions for you.
There are two main types of Powers of Attorney:
  • Power of Attorney for Personal Care
  • Continuing Power of Attorney for Property
A Power of Attorney for Personal Care will be necessary should you become incapacitated and unable to act on your own behalf. The person you name can make decisions about your health care, housing and other aspects of your personal life (such as meals and clothing).  Having a POA allows you to  include instructions, conditions, and restrictions on their decision-making
A Continuing Power of Attorney for Property is a document that can take effect immediately or on a specified date. The person you name can make decisions about your financial affairs (including paying your bills, collecting money owed to you, maintaining or selling your house, or managing your investments). As in the Power of Attorney for Personal Care you can include instructions, conditions and restrictions.
 

Do you need to create or update a Will?

What should be included in a will?
Your will should state who gets what from your savings and property, including your home, investments and cash. It should cover all the things you own, such as cars, furniture, pictures and jewelry.  
Writing a will can be stressful but not having one can leave your dependents in a difficult position. Not having a will can add stress to your dependents at trying time and can pose serious tax implications as well. 
What is and do you need a Power of Attorney?
A Power of Attorney is a legal document in which you give someone you trust (called the “attorney”) the right to make decisions for you.
There are two main types of Powers of Attorney:
  • Power of Attorney for Personal Care
  • Continuing Power of Attorney for Property
A Power of Attorney for Personal Care will be necessary should you become incapacitated and unable to act on your own behalf. The person you name can make decisions about your health care, housing and other aspects of your personal life (such as meals and clothing).  Having a POA allows you to  include instructions, conditions, and restrictions on their decision-making
A Continuing Power of Attorney for Property is a document that can take effect immediately or on a specified date. The person you name can make decisions about your financial affairs (including paying your bills, collecting money owed to you, maintaining or selling your house, or managing your investments). As in the Power of Attorney for Personal Care you can include instructions, conditions and restrictions.