Decision-makers are those who will make decisions for you when you cannot make them for yourself. These decision-makers are needed if you become disabled or when you die. Take the time to determine who decision-makers are early in the process to prevent delay. Prior to your consultation, we recommend determining both your primary and back-up decision-makers. You will need decision-makers for:
- Medical Power of Attorney: Someone to make medical decisions for you if you cannot make them for yourself.
- Financial Power of Attorney: Someone to make financial decisions for you as needed.
- Personal Representative: Someone to wrap up your affairs after you die.
- Guardian: Someone to take care of your kids after you die (if you have minor children).
- Trustee: Someone to manage the assets of your trust (should you decide to create a trust).
Keep in mind:
- You may want to discuss the role with your preferred individuals to see if they are comfortable assuming this responsibility.
- It is okay for the same individuals to perform multiple roles. However, make sure to consider who is most suited to perform each role.
- For each decision-maker, it is a good idea to name a back-up person. It is not mandatory to do this. However, it is best to have someone else already named if your first choice is unable to perform his or her responsibilities.
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Mathews Law is ready to help you with your estate planning needs!