There are three important roles that you will have to delegate to one or more people when it comes to following your final wishes:
Executor/Personal Representative: This can be one or more people - a loved one or a professional. They will be in charge of handling your estate once you are gone. They will make sure any remaining debt is paid and assets are sold, donated or inherited per your wishes.
Financial Power of Attorney (POA): This person handles the financial aspects of your estate. You are able to decide how much power is given to them.
Health Power of Attorney: This person will be in charge of making decisions for your medical care, if you are unable to do it on your own behalf.
Things to consider:
You can pick different individuals for each of these roles. One person may be best suited for financial help rather than health issues.
Getting the consent of the person you are asking to fulfill these roles gives everyone time to prepare and be organized if and when the time comes to help.
Give the legal documentation to all proper parties involved. If nobody can find these vital documents you risk not having your final wishes being carried out.
Yes, this is a lot to think about. But consider the alternative of doing nothing: chaos, fighting within the family, prolonged legal issues. It's worth is to plan ahead!
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