Page 31 - McManus Lorey Funeral Guide

applicable, prenuptial agreements and judgments of divorce. With this information in hand, your attorneys will be able to give you informed advice regarding the best course of action.
The Basic Estate Documents
Healthcare Proxy
A Healthcare Proxy is an important legal instrument which sets forth the person or persons who you would like to make healthcare decisions on your behalf in the event of your incapacity. In the absence of such an instrument, your healthcare provider may not have the proper guidance as to who you would trust to make these important decisions, or information how to contact the person who you would designate. By preparing a healthcare proxy, you will assist your physicians and nurses in providing the care that you would want to receive if you were able to speak for yourself.
Power of Attorney
Equally important is the power of
attorney or “POA”. The POA allows your choice of individual to act on your behalf in making financial decisions and managing your financial affairs in the event that you are unable to do so. A POA may be effective immediately upon its execution, or else “springing”, such that it will not be effective until you are certified to be incapacitated. The POA may be limited in its scope (i.e. giving authority to a certain family member to run your small business), or may give complete authority to the agent. Without a POA, your loved ones would have to bring a formal guardianship proceeding to exercise power over your financial affairs in the event of incapacity. Guardianship proceedings are expensive and uncertain, and there is no guarantee that the outcome will be that which you would have desired if you were able to speak for yourself. As with all aspects of estate planning, it is best to think of these issues and make the decisions for yourself, or you may find the state making them for you.
Last Will and Testament
The most important and ubiquitous document that is a necessary part of any
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