Page 27 - Powell Funeral Guide
P. 27
your incapacity, and the proper and absence of such an instrument, your
clear disposition of assets in the event healthcare provider may not have the
of your death, with an eye towards the proper guidance as to who you would
minimization of tax and administrative trust to make these important decisions,
burdens on the loved ones you leave or information how to contact the person
behind. who you would designate. By preparing
a healthcare proxy, you will assist your
In consulting with your attorneys for your physicians and nurses in providing the
initial estate planning consultation, bring care that you would want to receive if
with you a list of your assets (including you were able to speak for yourself.
real estate, bank accounts, investment
accounts, annuities, retirement accounts), Power of Attorney
liabilities, insurance policies and if Equally important is the power of
applicable, prenuptial agreements attorney or “POA”. The POA allows
and judgments of divorce. With this your choice of individual to act on your
information in hand, your attorneys will behalf in making financial decisions and
be able to give you informed advice managing your financial affairs in the
regarding the best course of action. event that you are unable to do so. A
POA may be effective immediately upon
The Basic Estate its execution, or else “springing”, such
that it will not be effective until you are
Documents certified to be incapacitated. The POA
may be limited in its scope (i.e. giving
authority to a certain family member
Healthcare Proxy to run your small business), or may
A Healthcare Proxy is an important legal give complete authority to the agent.
instrument which sets forth the person Without a POA, your loved ones would
or persons who you would like to make have to bring a formal guardianship
healthcare decisions on your behalf proceeding to exercise power over your
in the event of your incapacity. In the financial affairs in the event of incapacity.
Powell Funeral Home, Inc. - Page 27
