Quit Procrastinating, It’s Easier than You Think to Create an Estate Plan

Most of us hate to think of our own demise and thus procrastinate about creating an estate plan, but remember having your finances in order not only protects your surviving spouse and family but avoids leaving them a big mess to sort out.  It also can provide funds to care for or follow your directive if you are incapacitated and no longer able to advocate for yourself.  Even if you have a Will, you may want to review it to make sure it is up-to-date.

Common estate planning documents include: Last Will and Testament; Advance Medical Directive; Living Will; and a Financial Power of Attorney.  Preparing a Will allows you to determine what happens to any minor children, your assets, and sentimental items, and typically includes naming someone as your Executor who sees to it your directives are carried out.  The AARP says if you are married, your spouse also needs their own Will.  If you have substantial property or wealth, you may want to create a living trust as it allows you to distribute assets now or after your death.    

Having an Advance Medical Directive allows you to make decision regarding your health if you are unable to do so in the future due to a disease such as Alzheimer’s or other debilitating health issues.  It often includes the extent of life-saving measures you would want your family to make on your behalf like using medical devices to aid breathing (ventilator) or a feeding tubing, blood transfusions, antibiotics, surgery, etc. 

A Financial Power of Attorney document names someone to be in charge of your finances in the case you are unable to handle your own affairs.  A Living Will allows you to state your wishes regarding your end-of-life care if you are in a vegetative state and cannot communicate.  To ensure the best legal advice, please consult an attorney. 

MorningStar Senior Living of Billings represents the finest in senior living with a unique mission statement of: “to honor, to serve, to invest.”  Proving a true home for residents, our foundation is built on honoring God, valuing all seniors and hiring staff with a felt calling to serve.  Visit our website to learn more about the area’s most trusted independent living and assisted living.