Posts Tagged Essential Legal Documents

Planning Tips for the Sandwich Generation, continued

Planning Tips for the Sandwich Generation, continued

For adult children raising kids of their own, assuming the role of caregiver for one’s parents can be extraordinarily difficult without the help of proper legal documents. We have discussed the importance of The Talk. The information gleaned from this discussion provides a foundation for the creation of effective legal documents that express and protect your parents’ wishes. These documents include a Will, a Power of Attorney, a Living Will/Healthcare Proxy, and a HIPAA Medical Release. Let’s take a quick look at these documents. A Will directs how a person’s estate is to be administered and how his or her assets will be distributed after death. The person who creates the Will is called the Testator while the individual who settles the estate is known as the Executor. Naming the Executor and specifying “who gets what” in advance can help eliminate family infighting. A Power of Attorney allows an individual

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