Living will and power of attorney
In a will you set out all of your wishes in the event of your death. However, in a living will you set out all of your wishes for what is to happen in the event that you are no longer able to perform legal actions during your lifetime, such as following an accident or serious memory loss. Just as with a will, it’s nice for family members or other loved ones to know exactly what your wishes are when you are no longer able to act on your own behalf. A living will therefore provides a solution.
For example, a living will can contain information about who can make decisions regarding your home, your banking matters, your property, your health, your funeral or your pet.
The living will can consist of several parts: the power of attorney, your medical wishes and other wishes
WHAT YOU CAN ESTABLISH:
1. The power of attorney
The principal gives a person/persons the power to act on the principal’s behalf in legal matters.
The power of attorney is effective immediately or only once the principal is no longer capable of acting. The latter can be established by your own physician and/or an independent physician.
You may also nominate a supervisor who monitors the agent.
2. Medical wishes
You can also set out your wishes with respect to your health and/or your life. You can attach a euthanasia and/or healthcare statement, enabling you to determine whether or not you wish to be resuscitated. Alternatively, you can determine who your contact person is for medical questions, or who is allowed to make medical decisions on your behalf.
3. Other wishes
You can also incorporate other wishes, such as for:
- the distribution of your possessions, collections and/or jewellery
- your pet
- gifts (May gifts be made, and if so, to whom and for how much?)
- the sale of your home (May your home be sold?)
- your cremation or funeral
- wpasswords and access/PIN codes (Where can others find the passwords for your computer, the PIN for your bank card, bank details, insurances and any log-in details for social media?)
You can determine what you want by making a living will, and thus keep control of your own matters.
If you also want to retain control when you are no longer capable of acting on your own behalf, feel free to contact us. We’ll be happy to advise you! You can also find information in the ‘Who do you place your trust in?’ brochure.
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