5 Documents Everyone Should Have

5 Documents Everyone Should Have

It doesn’t matter whether you are 21 or 71, there are some documents each one of us should have executed and ready to go.  Here are my recommendations.

• Last Will and Testament. Even if you don’t have many assets, you should have a will to determine who will make the final decisions for what you do own. There will be bills to pay, assets to sell or distribute, or maybe even a pet to take care of. 
• Custody Documents. If you have small children or a dependent with different-abilities, you need to have a custody document that spells out who will be responsible for their care if something unexpected happens to you.
• Living Will. Have you spoken with your family to ensure your wishes are carried out if you are severely injured or have an extreme health emergency? Having this document will not always mean you receive the treatment requested, but it ensures that your wishes are know to your physician and family in the event of a medical emergency.
• Health Care Power of Attorney. It’s not enough to have just a power of attorney. It must specifically designate a person or representative to make health decisions for you if you are unable to speak for yourself.
• Financial Power of Attorney. A durable POA ensures that your financial interests are taken care of in the event you are unable to take care of them yourself. Be careful who you designate as they will have the power to buy, sell and dispose of your assets.

Don’t be unprepared in the event of an emergency. Ensure your wishes are known and will be followed by executing these 5 documents.