Five Must-Have Legal Documents

Whether you’re a caregiver or interested in getting your own business in order, we’ve identified five recommended legal documents that every adult should have. There are many online resources that explain in further detail about each document. If you have an attorney, be sure to ask about these documents or there are online resources that provide a free template for you to create your own. Don’t wait until it’s too late—take a moment to get organized.

ADVANCE DIRECTIVE

Also known as a living will or health care declaration/directive, this document outlines your wishes for medical treatments and life-sustaining measures, in the case that you are not able to communicate them verbally. Details might include a “do not resuscitate” order (DNR), the use

of breathing machines, tube feeding or organ donation. Making these decisions in advance lets medical professionals know what measures to take and grants your loved ones peace of mind, should they have to communicate these decisions for you.

DURABLE POWER OF ATTORNEY FOR HEALTH CARE

While an advance directive is limited to end-of-life concerns, a durable power of attorney for health care accounts for all health care decisions in the case that you are incapable of making decisions for yourself. In this document, you are able to outline how your designated power of attorney should act. Their authority to make these decisions ends when you are once again capable of making your own decisions.

LAST WILL AND TESTAMENT

Many people know this document simply as a “will.” It outlines how your property (including digital property such as email accounts and blogs) should be distributed and to whom. Different states have different requirements for one’s will. In Texas your will must be signed by two witnesses.

LIVING TRUST

A living trust designates someone (trustee) to help manage and distribute your assets rather than going through the court system, as in a last will. This often prevents your last wishes from becoming public record. This document also designates terms in which the trustee would set into action, should you be unable to make decisions regarding your assets during and after your life.

FINANCIAL POWER OF ATTORNEY

This document designates someone (principal) to do business on your behalf, should you be unable to take care of necessary matters yourself. Tasks designated might include paying bills, selling property, managing assets or applying for medical benefits. Unlike a living trust, a financial power of attorney dies when you do.

ONLINE RESOURCES:

eldercareteam .com legalzoom .com nlm .nih .gov/medlineplus/advancedirectives .html texasnaela .com texasprobate .com/professional-forms