Many of the questions we receive at DoYourOwnWill.com are related to Power of Attorney. POA is an important tool, but can be difficult to understand. Thus, this is the first in a series of posts explaining the most common types of and uses for POA. The information below is intended as an overview of the topic, with subsequent posts delving into the details of each subtopic.
A donated body can be used for medical purposes through either organ and tissue donation or whole body donation programs. Organ and tissue donation is more common, and entails donation of one or more organs or other tissues to be used for transplant or study. You can sign up to become an organ donor online or when renewing your drivers license. Even if your license or organ donor card specify your desire to be an organ donor it is important to notify loved ones of your decision to ensure your wishes are carried out.
An executor is the person named by the maker of a Will to carry out the directions of the Will. The executor ensures that all debts and taxes have been paid, then distributes remaining assets to those who are entitled to them by the Will. Specific duties of a Will executor typically include:
A Living Will or Advance Health Care Directive is a set of instructions specifying what actions should be taken in the event that you are no longer able to make decisions due to incapacity or illness. A Living Will provides instructions for healthcare providers and other caregivers related to the type of medical treatment you may or may not wish to receive.
Writing your will is simple and free of cost at doyourownwill.com. This free service is appropriate for individuals under age 65 with estates of less than $3.5 million in value.
Many people wonder how and why the site provides this service for free. Common questions about the site include:
Many people put off writing a Will because they believe it will be costly or difficult, that it is unnecessary because their possessions will automatically pass to their spouse or children, or simply to avoid thinking about their own death. But writing a Will is actually a simple process, and free services such as doyourownwill.com are available to guide you through the process step by step.
Whether you invest through the company you work for or on your own, it is important for you to start as early as possible. This will allow you to maximize your returns over the years and establish a secure financial future for you and your family.