Frequently Asked Questions about Wills

Why do I need a Will?

Will enables you to direct what is to be done with your estate (property) after your death. If you have children, several problems can be avoided by having a Will. A Will can make unnecessary the creation of a guardianship for property or money left to minor children. Instead, a trust can be created with more flexible terms. A Will allows you to appoint your choice to be guardian of the child. If you have children from different spouses, a Will can prevent (protect) your spouse from possibly being forced to liquidate assets to give to the (your) children upon your death.

Will simplifies and, where probate is required, makes less expensive the distribution of your estate upon your death.

Do I need a power of attorney?

There are several different power of attorneys. Depending on circumstances, a power of attorney may be necessary or prudent.

In some transactions, a power of attorney is required to allow another person to act for you when you are unable to act for yourself. This type of power of attorney is often referred to as a limited power of attorney because the power granted is usually limited to a single act or related acts and is limited in time and scope.

Sometimes a power of attorney is granted by you to a person to act for you for an extended period of time. This can be because you are traveling or ill or otherwise unable or unwilling to act for yourself. This type of power of attorney can be very broad or narrow.

A Medical Power Attorney allows a person to make medical decisions for you should you become unable to make those decisions for yourself. This can make unnecessary the establishment of a guardianship so that a guardian can make those decisions. A guardianship can take precious time and can be costly.

A Durable Power of Attorney granting your agent the authority to act for you can be executed now to go into effect only if you are determined to be medically incompetent, thus making unnecessary the establishment of a guardianship.

In all situations, a power of attorney can be revoked so long as you are medically competent.