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Top End of Life Documents You May Need

December 14, 2017

 

Most people already know that their last will and testament is the cornerstone of their financial and estate plan. However, many consumers don’t have this critical document in place. A 2014 American Journal of Preventive Medicine study found that up to three-quarters of Americans don’t even have a health care proxy, an advanced directive or a living will. plan ahead for end of life care

That’s in addition to only 42% of the population having a will. A well thought out will is one of the most important preparations to put in place as you age, but there are other estate planning and end of life documents that should be considered.

Your unique situation will determine which of these strategies and tools is most important for you and sitting down with an estate planning lawyer is one way to identify what will work for you as well as what you need to protect your best interests. These documents include:

  •      A living will
  •      Health care proxy or power of attorney for health care
  •      DNR – DNI orders
  •      Durable power of attorney
  •      Organ donor designation
  •      Diminishing capacity letters
  •      Life insurance
  •      Digital assets memorandum
  •      Personal property memorandum
  •      Relevant information collection

Make sure that when you spend all of the time to put together necessary documents to protect your assets and to articulate your end of life wishes, that you provide information for your loved ones or at least your attorney to access this. In a heat of the moment and in the midst of a crisis, it can be challenging for your loved ones to figure out where you have stored such information, but an experienced attorney can be one method for protecting your interests and your rights.  

 


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Recent Posts
Catch-Up Contributions

A recent survey found that 18% of workers are very confident about having enough money ...

The post Catch-Up Contributions first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Disability and Your Finances

The Social Security Disability Insurance program paid out over $150 billion in benefits in 2023. ...

The post Disability and Your Finances first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
US Companies Are The Innovation Leaders

We watch many economic trends and business issues evolve as a financial professional. The rapid ...

The post US Companies Are The Innovation Leaders first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more