Power of Attorney, Health Care Proxy, Living Will

[PRICEPLUS]

How many here have these documents available? In some instances you may run into serious problems if these docs are not available. How many here have taken the time to assemble these basics?

[sweeps]

Guilty. I'm 0 for 3.

[genmed]

I am currently at 1/3 (Living Will), but agree all three are pretty important to have for most people. You just never know when you might need them. However, I've found a lot of people who do complete these documents don't always ensure they are readily available to thier loved ones that will need them later on.

[PRICEPLUS]

It is important that you have these docs and that the location be known. Without a power of attorney your spouse may not be able to take care of your business affairs depending on which state you live in. Check with an attorney. You can give a revocable power of attorney which means that you can revoke its power at any time. You can also list specifically what powers(non-medical) you are assigning your agent.

You also need the living will and the health care proxy. It sure saves a great deal of grief for folks if you are unable to take care of yourself. Remember the Terry Schiavo case? Always good to have your instructions and wishes in writing!

[MonkeyMama]

They are in the process of being drawn up as we speak - finally got around to it.

I feel awful for waiting as long as we have - but I Can't say I know any of our peers who have done the same.

I intend to give copies to both our families and ensure they know where the originals are. Having 2 small kids has got my butt in gear. Oh yes - and since Terry Schiavo - renewed my feelings on how important this is. Sad it has taken us so long to get our act together, even so.

[Snoopy2645]

0 out of 3 for me heck I would be happy to get a will going which I have not at this point

[Diolla]

I have all three, one copy is at my sister's house in another town, one in a binder in my filing cabinet labeled LOVE FILE. (This folder also info on all my financial and personal information just in case) Oh and my doctor has a copy of the living will & health care power of attorney.

I thought it was important since someone is counting on me.

[rduell]

Nope. None of them. We've said ever since our first was born (19 years ago) that we needed to get a will drawn up but just never seem to have the extra money around for it.

[creditcardfree]

I'm 3 for 3, but probably need to update these now that we've moved to a new state. The military requires that we have these in place before any deployment. I've only had to sign on behalf of my husband once...on a tax refund check!!!

If one gets a power of attorney...I suggest a durable one...one that is continually in place, not for just specific situations. Based on my past experience in mutual fund customer service, the durable ones are more acceptable because they cover everything.

[Diolla]

I have 2 powers of attorney, 1 for health care and 1 for financial

The person I trust to say what should be done if I am in the hospital is NOT the one I would want handling my financial affairs while I am unable.

[PRICEPLUS]

It is possible to make your own documents but I always say to check with an attorney as it is best to make sure your docs are legal and hold weight! Remember, it is better to have and not need than to need and not have! Come on folks mark a date on your calender toget these important papers drawn up!

[tinapbeana]

Originally Posted by PRICEPLUS

It is possible to make your own documents but I always say to check with an attorney as it is best to make sure your docs are legal and hold weight! Remember, it is better to have and not need than to need and not have! Come on folks mark a date on your calender toget these important papers drawn up!

even better, hop on over to the thread about your goals for 2007 and set yourself a goal!

[lrjohnson]

Man, timely reminder.

I just got something from Vanguard, or some such, and it reminded me that since I have big girl accounts I had better do a will. If I can't name everyplace I have an account with, how the heck will My Guy and My Dad figure it out? And I've always trusted that my dad and I are on the same page as far as end of life health care, but he's about to travel the world, and he's 70, and My Guy and I aren't married and My Guy is likely to be the one at my bedside.

(Remember all the reasons you might need these documents...for example, in Medi-Cal we deal with people who are helping loved ones and have a health care power of attorney. That does nothing as far as being able to sign legally for people for applying for /maintaining Medi-Cal. They still need medical verification of incompetence to take over someone's affairs in this area. You might consider asking your lawyer about a springing power of attorney...you are competent, no POA, but the POA is "sprung" when you aren't able to handle affairs. I'm not saying do this, I'm saying ask your lawyer.)

[scfr]

We're 3 for 3.

Letter of Instructions: (I've been wondering where I could post this info. Glad for this thread.) There is a REALLY TERRIFIC resource available for FREE. On Jonathan Pond's website, you can download a free "Letter of Instructions." It is the perfect supplement to Your Will/POA/Health Care Directive. In it, you fill in all important information your loved one(s) would need to know after you die: who to notify, funeral arrangements, locations of all accounts and important documents & files, insurance, etc. My sister & I have both completed our letters and exchanged with each other; our husbands also know where they are. I showed it to our attorney who prepared our estate planning documents; he was so impressed by it that he has started referring his clients to it. Here's the web site:
http://www.jonathanpond.com/letterofinstructions.html

If any of you are the primary money manager in your marriage and concerned that your spouse won't know what to do once you're gone, preparing this letter will give you incredible peace of mind. It did for me.

[lrjohnson]

Originally Posted by scfr

Letter of Instructions: (I've been wondering where I could post this info. Glad for this thread.) There is a REALLY TERRIFIC resource available for FREE. On Jonathan Pond's website, you can download a free "Letter of Instructions." It is the perfect supplement to Your Will/POA/Health Care Directive.

Excellent link. Thanks.

[genmed]

Very helpful - Thanks.

[PRICEPLUS]

That is a very helpful link! Thank you very much!

[MonkeyMama]

Wow - that is great - thank you!

[KellyJef]

Originally Posted by scfr

Here's the web site:
http://www.jonathanpond.com/letterofinstructions.html

thank you so much! I couldn't download it, so I ordered a hard copy of it.

[jodi]

Ok, just finished the health care proxy and living will tonight. They are signed, witnessed, and going into the safe (my husband and parents are aware of them - do I need to get a copy to my MD as well?).
Here's my question - I asked my parents (my financial mentors) about getting a power of attorney. I would list my husband as POA. They don't think we need one as everything we own is owned jointly. I wouldn't need a POA to access the checking and savings accts, for example. So would this benefit us at all and should we pursue it? Or should I perhaps think of getting a POA listing one of my parents should anything happen to both DH and myself?