There are many different types of legal documents that can help you plan how your affairs will be handled in the future. Many of these documents have names that sound alike, so make sure you are getting the documents you want. Also, State laws vary, so find out about the rules, requirements, and forms used in your State.
Wills and trusts let you name the person you want your money and property to go to after you die.
Advance directives let you make arrangements for your care if you become sick. Two common types of advance directives are:
- A living will gives you a say in your health care if you become too sick to make your wishes known. In a living will, you can state what kind of care you do or don’t want. This can make it easier for family members to make tough healthcare decisions for you.
- A durable power of attorney for health care lets you name the person you want to make medical decisions for you if you can’t make them yourself. Make sure the person you name is willing to make those decisions for you.
For legal matters, there are ways to give someone you trust the power to act in your place.
- A general power of attorney lets you give someone else the authority to act on your behalf, but this power will end if you are unable to make your own decisions.
- A durable power of attorney allows you to name someone to act on your behalf for any legal task, but it stays in place if you become unable to make your own decisions.
Help for Getting Your Legal and Financial Papers in Order
You may want to talk with a lawyer about setting up a general power of attorney, durable power of attorney, joint account, trust, or advance directive. Be sure to ask about the lawyer’s fees before you make an appointment.
—National Institute on Aging