Will Based Estate Planning

A Will-based plan usually includes a Will, a Durable Property Power of Attorney, an Advance Medical Directive / Living Will and Medical Power of Attorney, and Medical Release. 

Will

A Will specifies who inherits your individually-owned assets that are subject to probate, who manages your estate (the Personal Representative) and what actions they may or have to take, and who serves as Guardian of your minor child(ren) when you die. In addition to the above, a Will can set up a trust for the benefit of a minor, a disabled beneficiary, or a spouse who is receiving benefits to pay for long term care.  A Will is only effective upon your death.

Durable Property Power of Attorney

When you create a Durable Property Power of Attorney (DPOA), you as Principal nominate another person as Agent to act on your behalf to manage your financial affairs and property as specified in the DPOA. For example, you as Principal may allow your Agent to sign your checks, deal with your investments, file for employee or other benefits, and make other decisions on your behalf.  When you create your DPOA with us, you will work with one of our attorneys to determine how you would like the document customized to meet your personal planning needs and family situation.

A DPOA can be effective immediately upon being signed, or may only be effective upon the happening of an event (typically if you become incapacitated).  A DPOA terminates at your death. 

Advance Medical Directive and Durable Medical Power of Attorney

An Advance Medical Directive (Living Will) states your wishes regarding life support and pain management should you become incapacitated and are at the end of your life or are in a coma or persistent vegetative state that your doctor believes to be irreversible.

A Durable Medical Power of Attorney names the individual(s) who you authorize to make medical decisions on your behalf if you are unable to do so yourself.

Medical Release

A Medical Release (also known as a HIPAA Release), lets your doctors and medical care providers know which individual(s), other than you, your doctor may discuss your medical condition and prognosis without violating your right to medical privacy.