Everybody over the age of 18 ought to be prepared if the ‘unthinkable’ happens. In addition to the financial responsibilities that adulthood brings, especially for those in the 4th quarter (and before the 2 minute warning) certain documents ought to be in place.
There are three types of advanced directives, one of which is strictly asset-related. When all of these documents have been completed they are referred to as comprehensive advance directives. Completing the directives is by far the most responsible, proactive thing you can do for your family and the people you love:
- Living Will/Healthcare directives, which includes Do Not Resuscitate order
- Durable Power of Attorney (both Medical and Financial)
- Living Trusts (relates to protecting your assets)
For more information go to: Advance Directive Forms.