Some Virginia residents may protest that they don’t need an estate plan because they are perfectly healthy. While that may be true, people of all ages can get into fatal accidents or contract deadly diseases.
Learn more below about drafting a basic estate plan.
What are the basics?
All adults over 18 should have, at a minimum, a simple will, medical and legal powers of attorney and an advanced medical directive.
Even if you have little to inherit, everyone has possessions, and most want those to go to specific people (who may not be their next of kin) when they pass. People typically also have an idea of what life-sustaining measures they would choose if they were suddenly incapacitated. Some people may want full codes while others prefer to decline these treatments if they no longer have any quality of life.
Choose now who you want in charge
When drafting medical and legal powers of attorney, it might be prudent to choose one person to oversee your medical affairs and another to direct your finances. Not everyone is equipped to make major medical decisions on very short notice, just as others can lack the financial savvy needed to manage your finances if you become unable.
Taking the time now to plan for an uncertain future helps assure that your wishes will be carried out by the person(s) you designate. This is preferable because grief and sadness may overcome your legal next of kin and render them unable to choose for you.