Protecting Your Assets


Unfortunately, no one can escape the inevitability of death. However, this does not mean that you should not plan for what comes after in regards to your family and your personal assets. Financially, leaving your assets unprotected can be the beginning of a legal mess that could plague your loved ones for years after your passing.
Varying claims and having no directive for your benefactors is an issue that may require significant amounts of litigation and discussion. Additionally, your personal well being in dire circumstances must also be considered. In the event of an accident or debilitating condition, you may be unable to express your desires. In this event, having the proper documentation can help ease the burden on your loved ones and provide closure on your own terms.
Traditional Wills and Last Testaments
Traditionally, wills and last testaments have long stood as the standard for dispersing property and assets among benefactors. These legal documents have been around for much of the modern era, allowing for many laws and regulations to arise in regards to the proper implementation of such a document. Once affirmed and verified, both of these legal entities can disperse your possessions according to your personal wishes. A will primarily focuses on real property. Immovable land, structures, and equipment attached to the land all constitute real property. Personal possessions such jewelry, furniture, and family heirlooms are covered under a last testament. Today, very few individuals wish to separate these items, thus calling for the modern combination of the two documents.
Living Wills
When discussing your well-being and self, living wills serve as the basis for legal recourse. In the event of a tragic accident that may leave your paralyzed, comatose, or otherwise unable to communicate your wishes, such a document will help provide a framework for what comes next. For many families, having a loved one in such a state creates a level of confusion and uncertainty. These emotions are further exacerbated by the sensitive nature of such a development and the struggles being faced by those around you.
By creating this document, there will be no question as to your wishes. Many individuals use this measure to ensure that they are either sustained by medical intervention or allowed to naturally move toward recovery or decline. Although this is a tough decision to make, it can be an invaluable asset to your friends and family should such an issue ever arise.
Power of Attorney
For those who need the assistance of others, invoking an agent under a power of attorney document can serve as a proper solution. This agent takes on the role of representative for the principal or granter of power. In this situation, the agent will handle many legal, financial, and medical decisions for the principal. In this way, you can rest assured that someone you trust will be working on your behalf if you no longer have the ability to deal with such issues. The powers of the agent will vary from jurisdiction to jurisdiction, so based on your location, you may need the aid of a legal professional to ensure that you have all of your concerns covered when entering into this type of agreement.


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