In the event that you are in a position where you cannot make your own medical decisions or manage your assets, a living will or advanced directive will allow you to appoint a person of your choosing to help you with these matters. Every estate plan should include a Living Will in addition to your Last Will and Testament.
Healthcare Power of Attorney
A Healthcare Power of Attorney allows you to appoint someone to make medical decisions for you in the event that you cannot make medical decisions for yourself. This person is considered your healthcare agent and will make medical decisions on your behalf based on your wishes.
Financial Power of Attorney
A Financial Power of Attorney is a legal document that will appoint a specific person and allow that person to take financial actions on your behalf, such as signing checks to pay your bills or selling a piece of real estate. You can make this power of attorney very broad allowing the designated person to have general power to take these financial actions on your behalf, or your can limit the person's power to very specific tasks your want carried out.
Durable Powers of Attorney