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Wills & Poa
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Wills & P.O.A
A will is a legal document that directs how you wish your estate administered, and whom your chosen beneficiaries are. The will is an important document that is used in the probate process after your death to ensure that all of your assets are given to the rightful beneficiaries as per your wishes and instructions. Dying without a will, will cause delay and expense to your loved ones.
A power of attorney is an instrument that gives another person the power to act on your behalf while you are alive. At its simplest the difference between wills and powers of attorney can be explained as a will is effective upon your death, a power of attorney is effective (usually) while you are alive.
There are various types of POA, including general, special, durable, and medical, each serving different purposes. Together, wills and POAs are essential tools in estate planning, ensuring that a person’s wishes are respected and their affairs are handled appropriately in life and after death.
General Power of Attorney
Grants broad powers to the agent to act on your behalf.
Financial Management:
A POA can help manage your financial affairs if you're unable to do so due to illness or incapacity.
Specific Requests
- The person you designate to carry out the terms of your will.
- The individuals or organizations who will receive your assets.
- If you have minor children, you can name a guardian to care for them.
Grants broad powers to the agent to act on your behalf.
Grants specific powers to the agent for a limited purpose or period.
Remains in effect if you become incapacitated.
Allows the agent to make healthcare decisions on your behalf if you are unable to do so.
Both documents allow you to control what happens to your assets and who makes decisions on your behalf.
Without a will, court laws will determine how your assets are distributed.