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Practical Money Matters Radio Series

May 28, 2012
Stop Procrastinating and Make Your Will


Now is the time to make a will and ensure your wishes are known and your loved ones are covered. Find out about the documents every person should have in place.

Transcript

If you haven't created legal documents that spell out your wishes if you should become incapacitated or die, you're leaving a tremendous burden on your loved ones.

You will probably need at least these three documents:

  • A will, which establishes who will receive your assets when you die. It also appoints an executor to handle your estate and names a guardian for your minor children.
  • A financial durable power of attorney, which designates who has legal authority to pay your bills and manage your assets if you become incapacitated.
  • A healthcare durable power of attorney, which assigns someone to make medical decisions if you're unable to do so for yourself.

Bottom line: Make these decisions now, so your loved ones aren't burdened later on.


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