August is National Make-A-Will Month, but a will is only a part of the plan.
If your goal is to remain in your home for years to come, a will alone won’t suffice, as it doesn’t address who can assist you in managing your affairs while you’re still alive.
If your goal is to age in place, the plan for the years before death is just as important, especially if you become temporarily or permanently unable to manage things yourself.
Financial Power of Attorney: Allows someone you trust to pay bills, manage bank accounts, work with insurance companies, and handle matters involving your home if you're unable to do so. Without one, your family may need to ask a court to appoint someone to act on your behalf.
Healthcare Power of Attorney: Names the person who can make medical decisions for you if you cannot speak for yourself. You choose that person in advance rather than leaving important decisions to uncertainty or family disagreements.
Living Will / Advance Directive: Documents your wishes regarding medical care, helping guide your loved ones and healthcare providers during difficult situations
Imagine a short hospital stay turns into several weeks of recovery. With these documents in place, a trusted person can keep your household running, pay the mortgage or property taxes, coordinate care, and help support your return home. Without them, your family may need to pursue guardianship or conservatorship through the courts, adding time, expense, and stress during an already challenging period.
A will and these lifetime planning documents work together to keep decisions in the hands of the people you choose and help you maintain control over your life and your home.
National Make-A-Will Month is a good reminder to make sure your estate plan includes more than just a will. Reach out to a member of our Trusts & Estate team today!