The Value of a Living Will

As we age, managing our finances and personal affairs can become more challenging. Many older adults want to maintain their independence but also recognize they may need some help. This is where a durable power of attorney can be very useful.What is a Durable Power of Attorney?A durable power of attorney is a legal document that allows you to choose someone you trust to handle certain tasks for you. This person is called your "agent" or "attorney-in-fact." The word "durable" means that the document stays in effect even if you become unable to make decisions for yourself later on.How Can a Durable Power of Attorney Help?A durable power of attorney gives you flexibility. It allows you to get help with tasks when you need it, while still keeping control over your affairs. Here are some ways it can be helpful:Bill Paying: You can have your agent help pay your monthly bills, while you still manage other parts of your finances.Banking: Your agent can handle bank transactions for you if needed.Legal Matters: Your agent can sign legal documents on your behalf.Property Management: Your agent can help manage your property or real estate.Healthcare Decisions: If you have a healthcare power of attorney, your agent can make medical decisions for you if you're unable to do so.You Don't Lose ControlMany older adults worry that having a power of attorney means giving up control. This is not true. Here's what you need to know:You can still manage your own affairs as usual.You can still make your own decisions and handle your own finances.Your agent doesn't replace you - they just have the ability to help when needed.You decide what powers to give your agent. You can make it very limited or very broad.Flexibility for the FutureA durable power of attorney provides peace of mind. It ensures that someone you trust can step in to help if you ever need it. This can be especially important if:You become ill or hospitalizedYou have memory problems or confusionYou have physical limitations that make it hard to do certain tasksYou want to travel but need someone to handle things at homeChoosing Your AgentPicking the right person as your agent is very important. Here are some tips:Choose someone you trust completelyPick someone who is responsible and good with financial mattersConsider choosing an adult child, close relative, or trusted friendMake sure the person is willing to take on this responsibilityYou can name more than one agent if you wantSetting It UpTo create a durable power of attorney:Decide what powers you want to give your agentChoose your agent(s)Have a lawyer draft the document for youSign the document in front of a notary publicGive copies to your agent, doctor, and important family membersMaintaining Your IndependenceRemember, having a durable power of attorney doesn't mean you're giving up control. It's a tool that helps you maintain your independence by ensuring you have help available when you need it. You can still:Make your own decisionsManage your own moneyPay your own billsSign your own documentsYour agent only steps in when you ask them to or if you become unable to handle things yourself.Changing Your MindIf you ever change your mind, you can:Revoke (cancel) the power of attorney at any time, as long as you're mentally competentChange who you've named as your agentModify what powers you've given your agentPeace of MindHaving a durable power of attorney in place can provide great peace of mind. It ensures that:Someone you trust can help you if neededYour wishes will be followedYour affairs will be managed even if you can't do it yourselfYou have a plan in place for the futureGetting HelpIf you're interested in setting up a durable power of attorney:Talk to your family about your wishesConsult with an elder law attorneyDiscuss it with your doctorReach out to local senior services for guidanceRemember, a durable power of attorney is a powerful tool that can help you maintain control over your life as you age. It provides flexibility and security, allowing you to get help when you need it while still maintaining your independence.

Moms spend their days and nights thinking about how to make sure their children are happy, healthy, and safe. If youre a mom, you know. If you arent a mom, you were born because of a mom. Its one of the two things we all have in common. So, as  Mothers Day approaches, lets talk about the most meaningful gift you can give or receive on this hallmark holiday that means a lot: every mom deserves the peace of mind and power to create financial security for themselves and their children with thoughtful estate planning. Now you may be thinking, Estate planning? Really? Isnt that just for rich people? Or, How  does drafting a Will give me peace of mind and financial security? Glad you asked! Most people have a general concept of what estate planning means, but in reality, dont fully understand it. Believe it or not, estate planning is far more complex than just drafting a Will, and its not just for rich people, though doing it will leave your family much more rich than if you dont. Once you appreciate the power of estate planning, youll know why it has the power to gift you peace of mind.So lets start by parsing out what estate planning really is and why it matters for every mom you know, including yourself if you are a mom. Why Estate Planning Matters for Moms (and Dads too)Imagine having a roadmap that clearly shows how your financial assets, the guardianship of your children, and even your most cherished possessions are handled should anything happen to you. Now imagine that your roadmap is a legal document and the people receiving that roadmap are required to abide by your wishes and are able to easily do so because your wishes are so clear and youve left a guide for your family along with the roadmap. Thats what estate planning is: a legally enforceable plan for your future, and ideally a guide to help your loved ones navigate the plan. And, contrary to what most people think, estate planning isnt just for the wealthy or those who are nearing the end of life. Its for everyone, including you! Thoughtful estate planning gives you the power to make decisions now that will impact your and your family's future, giving you peace of mind to know you arent leaving a mess for the people you love. You may be wondering, Really? How does estate planning give me peace of mind? Relax - grab a mimosa or some tea, kick your feet up, and lets talk about how it works. Estate planning allows you to specify who will care for your children if you are unable to do so yourself. Its undoubtedly a tough subject, but choosing a guardian you trust to raise your kids as you would brings immense comfort, and may even guide you to build deeper relationships with the people youd call upon to care for your children, if you cannot. Knowing that your wishes are written down and legally protected can relieve a lot of stress, and relax any of those stressful in the background thoughts about that one person you would never want raising your kids.  Without a plan, a judge would decide who takes care of your children if you cannot, and they might not choose the person you would have wanted. Or worst of all, they may even choose the one person youd never want raising your kids because maybe they look great on paper. Think about it: a judge knows nothing about you or your kids. They only know what they see in court filings. Thats it. Theyd have to make decisions with no input from you. Kinda scary, right?When done right, estate planning also lets you direct the distribution of your property and finances. Specifically, it ensures your assets are transferred to the people you choose without unnecessary delays, legal hurdles, or family conflicts. This not only secures your childrens future but also simplifies the administrative process at a time when your family should have space and time to mourn and heal, not get tangled in legal complexities. And if they do get tangled up in conflict, its highly likely that those relationships will be forever destroyed. That also happens. Again, more often than you may think. Heres the bottom line. When you get these things in order, you can die in peace, and that means you live life more fully. Estate Planning Equals EmpowermentEstate planning puts the power in your hands. It's a declaration of your values and your voice, legally secured to guide your family when you can't be there. By setting out your wishes clearly, you prevent disputes and ensure your legacy lives on exactly as you intend. After all, someone will have to wrap up your affairs after you die, so it may as well be you, now, while youre living. So step into your power, safeguard your children's future, and cement your role as the heart and protector of your family. In the process of getting your estate planning handled, when you work with an Estate Planning Law firm, youre going to learn a tremendous amount about your finances, and your financial literacy is going to grow in a way that will result in you feeling exponentially more financially secure and clear. Financial Protection In Case of LossEstate planning is especially vital if the unthinkable happens and your spouse or partner dies. Many mothers face not only devastating emotional loss but also the potential for significant financial instability - especially if you arent the primary breadwinner in your family. An effective estate plan, however, includes setting up mechanisms such as life insurance, trusts, and instructions for pension or retirement benefits, which can provide you with financial support when its most needed. Theres absolutely no reason you and your children need to compromise your lifestyle should something happen to your partner. For example, an estate plan ensures that you have access to joint assets and that any individual assets held by your spouse or partner are transferred to you or your children without delay. This can be critical in preventing financial hardship during an already challenging time, ensuring that you have the resources needed to maintain your home, cover living expenses, and continue to provide for your childrens needs.The Estate Planning Law Firm DifferenceBy now, it should be clear that creating an effective estate plan that honors your wishes and secures your and your familys financial future isnt as simple as creating a Will. Its more complicated than that and can be overwhelming, particularly with the legal jargon and the multitude of decisions that need to be made. These decisions are hard, too. When youre living your life, probably the last thing you want to think about is your death. Youd probably rather have a root canal. Fortunately, you don't have to navigate the process alone. Estate Planning Law firms, like ours, are uniquely trained, and trusted advisors who can guide you through the process, ensuring that your plan fits your specific circumstances and family dynamics. Heres a bonus: An Estate Planning Lawyer can also advise you on tax implications and the best ways to structure your finances to benefit you and your heirs. Yay! (Unless you want to pay extra taxes and give your money to the government instead of your kids, then knock yourself out).Finally, an Estate Planning Lawyer is committed to serving you and your family for the long term by checking in to update your plan as life changes, assets change and your kids grow. By working with an Estate Planning Law firm,  you create a plan that is thorough, thoughtful and works when you and your family need it to. Contact Entrusted Legacy Law at 412-347-1731 or click here to schedule a complimentary 15-Minute call. This article is a service of Entrusted Legacy Law. We dont just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session, during which you will get more financially organized than youve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge. Please note this is educational content only and is not intended to act as legal advice.

Dont Forget About Your Healthcare Wishes Its that time of year again the days are longer, the flowers are starting to bloom, and were itching to tackle those spring-cleaning projects! While were decluttering our homes, lets not forget another important task: reviewing our healthcare wishes. It might not be as exciting as scrubbing the fridge, but trust us, its incredibly worthwhile.Recently, I spoke with a young man who had to make the difficult decision to remove his father from life support after an accident. His father never shared his wishes about end-of-life care, and this man has been left feeling an immense burden of guilt ever since. Its a heavy weight to carry, even though he knows there was no chance of recovery. With a few conversations and simple documents, we can prevent this kind of anguish for our loved ones.We understand that talking about end-of-life decisions or medical treatments can feel uncomfortable. However, its a gift you give yourself and your loved ones. Imagine if something unexpected happens, and youre unable to speak for yourself. Wouldnt you want your family to know with certainty what kind of care youd want?Heres a quick guide for thinking through your options: Your Beliefs: Do you have religious or cultural preferences that should guide your healthcare? What matters most to you? Is independence and remaining at home a priority? Would you want all possible life-saving measures or focus more on comfort? Your Preferences: Be specific! Think about whether you want CPR in case your heart stops? Would you be comfortable with a ventilator temporarily? What are your thoughts about organ donation? Your Voice: Choose someone you absolutely trust to make decisions for you, if you are not able to. Talk to this person about your values and what kind of life youd consider worth living. Go Deeper: Get even more specific and consider how you feel about pain management. Would you consider amputation if it meant saving your life? There are no wrong answers, just whats right for you. With National Healthcare Decisions Day (April 16th) just around the corner, its the perfect reminder to formalize your wishes. Now is a good time for you to get started. If you need help, we are here to assist you with the legalities. We will make sure its all done correctly, giving both you and your loved ones peace of mind.Remember, tackling your healthcare wishes is the ultimate act of self-care. By doing so, you will ensure your voice is always heard, no matter what the future may bring. If you need help with the process, please reach out to our office for guidance and support. Call us at 724-564-6615 or email info@sechlerlawfirm.com.