“What do I need a will for?  I'm not that old, and I don't have a lot of money.”

Oh, but you will.  You WILL get older and if your career has any success at all, you WILL have money.  You may one day own a house, and you certainly own equipment now – some of which may be worth a lot of money.  A will provides for the orderly distribution of your property upon your (hopefully far off) demise.  A simple will is inexpensive, doesn't take much time to put together, and can help avoid a tremendous amount of family friction.

“Do I need a Living Will?”

If you paid attention to the news in the last few years, you should be aware of why you MUST have what is known as an Advance Directive, or Living Will.  Does the name Terry Schiavo ring a bell?  Remember how the news was dominated by the huge fight between her parents and her cheating spouse over whether life-sustaining treatment should be withheld from her as she was in a vegetative state?  The question was whether food and water should be withheld and she should be allowed to die.   The fight existed because she did not leave written instructions as to what her desires were. 

Living Wills are very quick, easy, and inexpensive to set up.  You should have one.

“What happens if I'm in an accident and can't handle my personal affairs for awhile, but I'm not in a permanent coma?”

There's a way to deal with that, too.  It's called a Durable Power of Attorney for Health Care.  In this document, you establish who you want to handle decisions for you when you are unable to.  These can be decisions relating to your health care, or handling your money while you are not able to make your wishes known.  The document establishes what is known as a power of attorney, and the person you name to hold the power is known as your attorney-in-fact.  However, it does not require a lawyer to exercise the power granted in the document; a member of your family or your spouse is typically the person you might choose.  This is also a relatively simply, quick, and inexpensive document to set up.

Wills, Living Wills, & Durable POAs.  We can help.

Disclaimer: The above material is presented for general information purposes only, and does not constitute the provision of legal, accounting, or other professional advice.   This information is widely available to individuals from easily-accessible government and private sources, and Portal Production claims no copyright in any of the foregoing material.