Proper legal planning in the event of a crisis can be an excellent idea. Under the current status of the pandemic, there’s a chance that you could encounter an emergency in your life. Preparing for an emergency or the chance of a loss can be important. Here are some essential documents that you should have prepared for the event of an emergency.
Directives For Healthcare
This is a document that can help you to name a designated agent to make medical decisions for you in the event that you became incapacitated. These members can step in and make medical decisions or choices for your care. This can be especially helpful if you share differing views with your next of kin or you are undergoing a divorce.
Power Of Attorney For Assets
With your medical decisions covered you’ll want to move on to choose someone who would manage her finances in the event that you could become incapacitated. Keep in mind that any power of attorney will not function after death. It can be handy if you’re temporarily incapacitated or in helping you prepare arrangements.
A revocable trust ensures that a power of attorney will be able to manage her finances until you are well again or until your death. Your assets are transferred into the trust name temporarily.
Having illegal will drawn up for the dissolution of your assets can be an important step. Having a proper plan in place and even making plans for your end of life wishes can seem somewhat grim, but it is often a far easier process than traditional probating. With a will in place you can also work at sharing your assets with the family members who they will most benefit or who would want the assets you own the most.
If you could use assistance with drafting legal documents contact us today to learn more.
This article was written by Alla Tenina. Alla is one of the best Bankruptcy Attorney in Sherman Oaks, and the founder of Tenina law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.