Will, Power of Attorney, and Living Will- For New Families in the U.S.
As a new family in the U.S., you really need to update or create a will, power of attorney, and living will. Now is the time, so that you don’t forget. Also, update any beneficiary accounts that you have with your current beneficiary.
What is a Will, Power of Attorney, and Living Will
A will is a legal document that, after your death, instructs your wishes regarding the distribution of your property. Creating a will gives you, not a probate court, the decision over the distribution of your assets. For example, the will lets you decide how your belongings, such as cars or family heirlooms, should be distributed. If you have a business or investments, the will directs the transition of those assets.
Additionally, the will instructs your wishes for the care of any minor children. Also, if you have children from a prior marriage, even if they are adults, the will dictates the assets they receive.
If a charity is in mind, the will lets you direct some of your assets to the charity or charities of your choice. Likewise, if an institution is in mind, the will lets you direct some of your assets to the institution(s) of your choice.
The will names the executor who manages your estate until its final distribution.
Any adult person, being of sound mind can make a will, with or without the aid of a lawyer. Additional requirements vary depending on the jurisdiction.
While wills generally address the majority of your assets, there are some things that are not covered by a will. These items include community property, life-insurance policy payouts, retirement assets, investment accounts or other accounts that have a designated benefactor. Keep these accounts up to date with your current benefactor.
Power of Attorney
A power of attorney is a legal document that gives a trusted person or persons the authority to manage your affairs.
The person authorizing the power of attorney is the grantor. The one authorized to carry out the power of attorney is the agent.
The power of attorney is given to your agent in the event that you become if you become unable, through illness, accident or old age, to look after your affairs.
A living will gives you a say in the way you are treated before you die. Particularly, the living will is pertinent in a situation where death is otherwise inevitable.
The living will only goes into effect if you are in a persistent vegetative state or irreversible coma and can no longer make and communicate your own wishes.
Why do We Need Them
You definitely need a will if you are married, have children and assets.
If you don’t have a will, the decision of dividing up your assets is in the hands of laws of the State that you live. On the contrary, with a will, you have control of the decisions.
If you have children from a prior marriage, even if they are adults, your will dictates the assets they receive.
Creating a will also minimizes tensions among survivors. For example, relatives battling over your possessions can weaken what may have otherwise been a strong family.
Now that you are married and your new spouse is in the U.S., it is a perfect time to create or update your will.
Power of Attorney
If you become unable, through illness, accident or old age, to look after your affairs then, unless you have signed a power of attorney, your family will have no authority to access your money or deal with your welfare. By signing a power of attorney, you are ensuring that if anything ever does happen to you in the future, those you love and trust will have the power to look after you in the way that you would want.
The living will communicates your end of life wishes, when you cannot communicate. Therefore, the living will ensures your wishes for end of life decisions.
In addition, the living will spares your family the anguish of making life-support decisions without your input.
Finally, the living will ensures that your doctor understands your end-of-life wishes and treats you accordingly.
On-line Wills, Power of Attorney, and Living Wills
For our Wills, Power of Attorney, and Living Wills, we used USLegalWills.com
USLegalWills.com – Write a will, power of attorney or living will (Click here to get 15% off)
Just answer the simple questions to create your legal documents online. Make updates at any time free of charge. Lawyer approved, at one-tenth the cost.
USLegalWill.com allows people to create a will, power of attorney or living will in a very easy, convenient, private, secure and cost-effective manner. Plus, the cost is low without the need to pay the high expenses of a lawyer.
In fact, they go far beyond any do-it-yourself kit or online repository of legal forms and documents. If you wish, all of your legal documents can be stored and maintained by you online, in a completely private and secure manner. This ensures that you can keep it updated to reflect any changes in your financial or family situation.
The USLegalWills.com web site allows members to document their Last Will and Testament, Living Will and Power of Attorney. Furthermore, at no extra cost, members can specify their funeral wishes, upload important files and documents, and even create messages to be sent after they have passed away.
USLegalWills.com passes the information onto your designated agent only at the appropriate time.
You may still want to use a local attorney to do your will, power of attorney and living will. If that is he case, we do not have any recommendations for a specific attorney. However, Legal Match quickly connects you with lawyers in your area.