At Parker and LaDuke, we have experience preparing wills and powers of attorney. When are these legal documents necessary?
Most adults should have a will. A will is a legal instrument that directs the division of your estate upon death. Without a will, the court will appoint an administrator and will divide your estate based upon the law of intestate succession. The court may divide your estate in a manner that you would not have approved of. With a will, you control who receives your estate after death. A will can give you peace of mind that your affairs will be handled properly upon your decease.
For instance, it may be necessary to create a trust for a disabled child or create a spendthrift trust for a child who is not responsible with money. A will provides clarity to the beneficiaries and may prevent or reduce the hostility and bad feelings that often accompany the death of a loved one and division of an estate.
Powers Of Attorney
A power of attorney is a legal instrument that allows your designated “Attorney-in-fact” to act on your behalf for the purposes provided in the power of attorney. For instance, a elderly person might give their child a power of attorney to act on their behalf in financial matters, such as banking transactions, conveying real estate or collecting rents of property they own. Or, an individual might give their spouse a power of attorney for health care that would allow the spouse to make decisions about medical treatment options when the spouse is unable to do so.
Powers of attorney can also be helpful in temporary situations where a short term transfer of authority is necessary whether for personal or business purposes.
With prices beginning at $300.00 for husband and wife “mirror image wills” and powers of attorney starting at $150.00, getting a will or power of attorney may be more affordable than you might think.