Disclosure :: This post is sponsored by Randazzo Giglio & Bailey LLC.
Four Important Legal Documents to Have During a Medical “Situation”
Let’s be real. Life is a little crazy right now. However, during situations like these, we are often reminded of our mortality, which can be a very scary thought especially
with little ones at our feet and in our homes all day long. Who will take care of my kids if I’m gone? Who will manage any assets I leave to them? How do I make sure the person I choose will be their guardian? Questions like these can cause unnecessary stress and anxiety, feelings that are bountiful these days. If you’ve ever experienced these thoughts, read on for some calming advice on the top four legal documents to have as a parent.
1. Last Will and Testament—In short, a Last Will and Testament legally establishes a person’s specific wishes for distribution/administration of his/her estate upon death and provides peace of mind that your family will be taken care of in the event of your death. This is arguably the most important document for spouses as well as parents to prepare because, in this legal document, you can, for spouses, ensure that in the event of one spouse’s death, the survivor has full control over all assets, including the deceased spouse’s community interest, or, for your children, designate who will care for your children, appoint someone to manage their finances and property, and, when necessary, establish trusts to direct the management and distribution of those assets for their future. Although these are highlights, there are many other important considerations that you can address in your testament, all of which an experienced estate planning attorney can discuss with you.
2. General Durable Power of Attorney – This instrument permits you to appoint an agent to conduct and transact your affairs for you, which can be extremely helpful in the event of your incapacity or disability.
3. Healthcare Power of Attorney—A Healthcare Power of Attorney permits you to appoint an agent to make medical decisions for you in the event you are unable to do so due to a medical condition.
4. Living Will—A Living Will is a legal document in which you may instruct physicians to withhold or withdraw extraordinary life sustaining procedures in the event you are diagnosed or certified as suffering from a terminal or irreversible condition. A Living Will can be used in conjunction with a Healthcare Power of Attorney, in order to assist the person you’ve appointed in making medical decisions on your behalf.
Having these documents in place is critically important and can help ease the burden on loved ones if you are in the hospital or in the event of your death. If you’re interested in drafting one or all of these, or if you need any assistance with planning your family’s estate, give yourself the peace of mind and contact a local attorney to help you. The attorneys at Randazzo Giglio & Bailey are available to provide legal guidance and are set-up to do so remotely, so you don’t even have to leave the comfort of your own home during the Stay-at-Home Orders. Contact us now to set up a consultation and mark one more thing off your to-do list!
Daniel Finch and Charmaine Borne are attorneys with Randazzo Giglio & Bailey LLC in Lafayette, Louisiana. A Lafayette native, Daniel has been practicing in Lafayette for ten years, where his practice focuses on estate planning and administration matters, as well as successions. He and his wife live in Lafayette and have one son. Charmaine moved to Lafayette with her husband after graduating from law school and has been practicing here for the last five years. She and her husband have one daughter and are expecting a son in July.