In the process of being physically, emotionally, mentally, and spiritually prepared, you may easily overlook being legally prepared. Most of you are in your early to mid 20’s and things like Living Wills seem a far away thought. However, it is important to be prepared with any and all legal documents your parents or guardians may need in your absence. This is a compilation of notes and research we have done in the past on being legally prepared. If you have questions, feel free to get in touch with me or Gary or Nancy and we will help as best we can.
You should have 2 documents for a power of attorney, and 1
for a living will and/or advanced directive
Power of Attorney and Other Documents
a)
Your
taxes will be due while you’re gone! Are you prepared for those to be handled?
Is your power of attorney good for the IRS? If not, see http://www.irs.gov/pub/irs-pdf/f2848.pdf
and fill out that form in addition.
b)
Be
sure you have someone who will handle your bank account and that you have
completed legal paperwork AND the paperwork at the bank.
c)
Be
sure your paperwork is notarized – so don’t sign it until you have a notary
d)
If
you have any other finances besides a bank account – have a power of attorney for
all of them
e)
Check
everything in your wallet and in the glove box of your car – know what will
expire while you’re gone. Find out how to deal with that while you’re gone.
f)
Have a Power of attorney for healthcare – you never
know where the Lord will take you and what He will allow. But be prepared. This
enables someone to make all healthcare decisions for you. This document is
pretty universal so it will be accepted everywhere. Again, have this notarized.
g)
Be
sure your power of attorney is “Durable.” This means if you are incapacitated,
this document is permanent.
h)
You
can add to your power of attorney and living will, but be sure that any
additions are initialed and dated in front of a notary.
i)
What if I already have one but I don’t know if they are
durable, should I do this as well?
i)look over the documents for a paragraph saying “This is enforced if I am incapacitated.”
ii) Your attorney, bank, and AIM
should each have a copy.
iii) We can get a copy to you around the world if
necessary
Living Will/Advanced Directives – will
state what kind of care or treatment given or withheld if you have a terminal
condition. An attorney can draw something up for you on this as well. Is not
required, but recommended. Without this, the law of the country dictates what
happens to you if you are incapacitated. You may need to file one in both your
state and your parent’s (or whoever is taking responsibility for you) state.
