Attorneys
Power of attorney
There are two different powers of attorney available. A power of attorney for financial matters allows another person to pay your bills, deposit your checks, and handle your financial matters while you are unable to because of a physical or mental disability. However, it can also be used when someone is, for example, overseas in the military. A power of attorney for healthcare decisions gives a person the right to make healthcare decisions on your behalf if you are unable to due to a physical or mental disability.
If you do not have a power of attorney for financial matters and you become unable to handle your own financial matters, then someone will have to file a petition in district court to become your Conservator and/or Guardian. This can be a costly and lengthy process, especially if the family members cannot agree on who should be the Conservator and/or Guardian. Failing to have the proper powers of attorney can cost you and your family thousands of dollars, months of time, and can cause hard feelings between family members.
Will or Trust
Wills and trusts are legal documents that allow you to decide where your assets will go, who will raise your minor children, who will be responsible for dealing with your financial matters when you are gone, etc. If you do not have a will or trust, then Iowa law will make these decisions for you. If you have minor children, then there could be a child custody fight over who will raise your children and take care of their money. So many potential problems can be eliminated by having one of these basic estate planning documents.
Living will
A living will is entirely optional, but if you decide to have one, it is your declaration to your doctors, family, and the rest of the world that if your life can only be sustained by machines and if you have no hope of recovery, it is your desire to have life support removed.
Get More Info
These are the basic estate planning documents that every Iowan should consider. If you do not have a power of attorney along with a will or trust, then you should call our office to schedule a no-cost initial consultation. If you are not ready to call an attorney, but would like more information, then claim a copy of our book entitled “What Will Happen When I Die? Iowa Consumer’s Guide to Wills, Estate Planning and Probate” which exposes the “4 Things That Could Hurt Your Family”. We offer our book at no cost, risk or obligation because we have seen too many Iowans leave a mess for their family because they did not plan. To claim your copy, go to www.IowaWillBook.com.
