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The Basic Estate or else “springing”, such that it will not
be effective until you are certified to be
Documents incapacitated. The POA may be limited in
its scope (i.e. giving authority to a certain
family member to run your small business),
Healthcare Proxy or may give complete authority to the
A Healthcare Proxy is an important legal agent. Without a POA, your loved ones
instrument which sets forth the person would have to bring a formal guardianship
or persons who you would like to make proceeding to exercise power over your
healthcare decisions on your behalf financial affairs in the event of incapacity.
in the event of your incapacity. In the Guardianship proceedings are expensive
absence of such an instrument, your and uncertain, and there is no guarantee
healthcare provider may not have the that the outcome will be that which you
proper guidance as to who you would would have desired if you were able to
trust to make these important decisions, speak for yourself. As with all aspects
or information how to contact the person of estate planning, it is best to think of
who you would designate. By preparing these issues and make the decisions for
a healthcare proxy, you will assist your yourself, or you may find the state making
physicians and nurses in providing the them for you.
care that you would want to receive if you
were able to speak for yourself. Last Will and Testament
The most important and ubiquitous
Power of Attorney document that is a necessary part of any
Equally important is the power of attorney estate plan is the last will and testament.
or “POA”. The POA allows your choice This document will serve many important
of individual to act on your behalf in purposes, including providing for how
making financial decisions and managing your assets should be disposed of at your
your financial affairs in the event that death, choosing fiduciaries to administer
you are unable to do so. A POA may be your estate (and any trusts created
effective immediately upon its execution, thereby), and selecting guardians for any
Butler-Hughes Funeral Home, Inc. - Page 29
