Wills & Estate Planning
Failing To Plan, Is Planning To Fail.
With tax laws constantly changing and the stock market always fluctuating, what happens in the future is uncertain. While so much in life is out of your control, what happens with your health and your wealth doesn’t have to be. You are the only person who can make the decision on how you would prefer to be treated, and where you would like your legacy to go. Therefore, it’s recommended that everyone have the following four documents:
- DURABLE POWER OF ATTORNEY FOR HEALTHCARE
This permits you to designate a spouse, family member or friend to be a health care decision maker on your behalf. It goes into effect when you become disabled and unable to make decisions for yourself. - LIVING WILL
A living will is also known as an Advanced Directive for Healthcare. While every state can be different, it is recognized in our home state of Pennsylvania as giving you the right to refuse medical treatment if you are suffering from an incurable and terminal illness or are in a permanent vegetative state. You designate a spouse, family member or friend to inform the health care provider of your intentions. By way of this document, it is possible to refuse medical treatment that would artificially prolong the dying process. - LAST WILL AND TESTAMENT
A will permits you to definitively express your final intentions to your friends and family. If you do not leave written instructions on how you would like your legacy to be passed on, the government will do it for you.
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- GENERAL DURABLE POWER OF ATTORNEY
A General Durable Power of Attorney (“POA”) permits you to designate an agent to act on your behalf and manage your financial affairs. By taking the time and preparing a POA while you are healthy and capable of doing so you can avoid the need of a Guardianship proceeding, which is both time-consuming and expensive. If you do not take the time to prepare a POA you may subject your spouse or family to unnecessary heartache and expense, all of which could be avoided by planning ahead.
These four documents will ensure that your valuables go to the heirs of your choice and that if you should become incapacitated, your designated agent will be able to handle your affairs. These documents are the foundation of a basic estate plan.
To connect with a Doctor Protectors resource, or for more information on Estate Planning, fill out the form above.
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How Doctor Protectors Can Help?
We understand medical and dental practitioners face unique challenges, with limited spare time. We are experts at understanding the nuances of the many different life insurance carriers and their policy options, so you don’t have to!
Doctor Protectors streamlines the process of obtaining personal insurances by leveraging multiple top carriers to provide the best rates and solutions available to protect your family and/or your practice. If you’ve yet to obtain permanent life insurance, or you just aren’t sure of the many ways it can enhance your financial plan, let us help!
