Hello, this is Richard Morgan at Morgan and DiSalvo. This is part of our back to the basics video newsletter series. Topic right now is going to be what everyone needs to do their estate planning. So there are several, at least four documents … Well, at least three documents and one potential document. So everyone needs a financial power of attorney. What is that? It allows you appoint someone else to assist you with any financial matters while you’re alive if you need any assistance.
The second document, every state’s a little different, but we call it in Georgia an advanced directive for health care. That allows you to appoint an agent to assist you with any medical related decisions, deal with doctors and hospitals, HIPPA representative, get health care information if you need assistance. Then you have a will, and the will says what happens to my stuff when I die. Who’s taking care of the kids, if the kids are minors? Who’s going to be in control? What happens to your property? You may or may not have something called a revocable living trust, which would be the topic or another newsletter.
Richard Morgan, Morgan and DiSalvo.