A Great Way To Use Your Shelter In Place Time

Julie Hupp, CDFA®, CFP®

April 23, 2020


After a major transition like a divorce or death, we work with clients to update many of their Estate planning documents. The primary documents most people think about are Wills and/or Trusts. Those are very important as well as changing the beneficiaries on ALL of your accounts.

Key Documents That Need Updating

Sometimes however, people forget a key document that they should update and that is their Power of Attorney (POA) documents. There are 2 key POA documents that you should have, a POA for Property and a POA for Healthcare.

“What a great opportunity we have right now with more time on our hands to take care of these critical documents.”

Medical Power Of Attorney

The POA for healthcare is critical if you are and Independent woman. You need to assign the critical task of making healthcare decisions for you in case you are unable to make those decisions. The Covid pandemic has made it very real that things happen that we cannot plan for and situations where we may not be able to make our own healthcare choices. In addition to the POA for Healthcare, you can also create a Living Will that allows you to specify what care you would want in a variety of situations. These 2 documents together will give you and your family greater confidence and security that your wishes will be met. Both of these forms are available online and you do not need an attorney to draft them.

Power Of Attorney – Property

The POA for Property is also an important document. It allows the designated person to make decisions related to your bank, investment and property accounts if you are not able to. For example, if you had an accident but were not conscious and your family needed to access money from an account, the POA would allow the designated person to access these needed funds. This form is also available online for your state.

What a great opportunity we have right now with more time on our hands to take care of these critical documents.  Feel free to call at 847-986-2680 if you have any questions.

Want new articles before they get published?
Subscribe to our Newsletter.

What's Next?

Do You Really Need a QDRO?

QDRO is an acronym for a legal document called a Qualified Domestic Relations Order and is required whenever a divorcing couple needs to divide a Qualified Retirement Account.

Considering Divorce? Prepare Yourself

Divorce is not something you plan for, but when you are considering it, you do need to prepare yourself. Our 5 divorce planning tips can help.

Aspire Divorce Solutions

Aspire Divorce Solutions offers creative solutions to assist you in your divorce. Whether self-filing, mediating or working with an attorney, we bring more clarity to your financial situation, saving you time and money.

Copyright © 2020 Aspire Divorce Solutions. All Rights Reserved. WebCare®

Office Hours: M-F, 9am-5pm
Call Us: (847) 986-2690
Directions: Map It