The personal representative must follow the will’s directions in distributing the assets, or else distribute the assets according to the default intestacy rules in Wisconsin if the person died without a will. If the decedent does not have a will, then the probate judge will usually select one of the heirs to serve as the personal representative. You should designate a trusted person to act as your healthcare power of attorney for making any decisions that are unrelated to life-support during a vegetative state. Oftentimes, your estate planning attorney will draft a power of attorney for healthcare to coincide with the living will, so that both documents can cover any future healthcare decisions. Therefore, drafting a living will should be done only after careful thought and consideration. It is impossible to predict the future, or even new medical developments that might become available. However, living wills involve complex and deeply emotional decisions that should be consulted with your family members and loved ones. Many people decide that the quality of life and personal dignity in such circumstances is not worth preserving on life support machines. Living wills are fairly straight-forward documents that allow you to make a statement regarding whether you would like to be removed from life-support devices in the event that your future health declined to a vegetative state. Due to the large amount of power over assets and finances that is included in the power of your designated attorney, it is important to choose an individual that you trust in confidence. A durable power of attorney allows a trusted person to do everything a formal guardian would be able to do, but in a more private, comfortable, and less expensive manner. Since all estate planning documents must be signed while the person executing them is in sound mind, it is important to plan ahead for unforeseen circumstances, such as being simply unavailable or incapacitated by illness.Ī durable power of attorney can help prevent the necessity for the local government to appoint a guardian over a vulnerable person. The durable power of attorney is usually used for convenience by people who are either mentally or physically incapable of handling their personal matters alone. The power to invest and manage your other hard assets.The authorization to sign contracts or other legal documents on your behalf.The ability to move money and funds around throughout your financial accounts.These powers may include, but are not limited to: The durable power of attorney is also sometimes called a “power of attorney for finances” or “financial power of attorney.” This document designates a trusted person to act as your agent and attorney, and gives that person many general powers.
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