Married No Children
As a married couple with no children, your estate plan would typically consist of the following:
|A Last Will and Testament for each spouse||A Directive to Physicians "Living Will"|
|A Durable Power of Attorney for Financial Purposes for
|An authorization and release for HIPAA compliance*, and|
|A Durable Power of Attorney for Health Care Purposes for
|Advance arrangements for your funeral and remains*.|
|Perhaps a Community Property Agreement|
*Two other documents will also be provided to you at no cost; a HIPAA Authorization and Release Form for you to complete, and an Advance Funeral Directive should you choose to complete the same.
Your Last Will and Testament
Your Last Will describes who will receive your estate (your house, car, personal property and possessions, etc.) and who is going to take care of things for you (your “Personal Representative”). Your Last Will will also identify your beneficiaries. As a married couple with no children, you may wish to provide that your estate will pass to your spouse if your spouse survives you. If, on the other hand, your spouse does not survive you, then you will need to identify who will receive your estate.
protective Provisions for minors
If your Last Will provides a benefit to a person under age 18 years, then your Last Will will contain provisions allowing your Personal Representative to establish a trust or a custodial account under the Uniform Transfers to Minors Act. The funds set aside for the individual may be used to meet the person's needs and once the person reaches the age of 21 years, any remaining funds will be distributed to the beneficiary.
Your Durable Power of Attorney for Financial Purposes
Your Durable Power of Attorney for Financial Purposes identifies who you want to act for you in the event that you are unable to manage your own financial affairs. This person (your “Agent”) will be someone you can trust to make the right decision for you and is available and willing to help. As a married couple, this agent is generally your spouse. It’s always a good idea to consider naming one or more alternate agents (who may be different from who your spouse nominates) and to decide whether this appointment of your agent would be effective now or “spring” into effect only if you become incapacitated (preferred).
Your Durable Power of Attorney for Health Care Purposes
Your Health Care Durable Power of Attorney identifies the person who will act for you if you are not able to make your own health care and related medical decisions. As a married couple, this person will most likely be your spouse. This document is effective when you are unable to make your own health care decisions.
Your “Living Will”
You may want to implement a “Living Will” which describes the type of comfort care you would like to receive should you have a terminal condition or experience a vegetative or permanently unconscious state.
HIPAA Authorization and Instructions regarding disposition of your remains
The HIPAA authorization form identifies who may deal with your protected health care information and should be included in your medical records. You may also want to express in writing your wishes regarding the place or method of disposition of your remains.
Get started today with a personalized plan
choose and pay for only what you need
|Last Will & Testament:||$75 / spouse|
|Financial Durable Power of Attorney:||$35 / spouse|
|Health Care Durable Power of Attorney:||$35 / spouse|
|Directive to Physicians ("Living Will"):||$15 / spouse|
|Community Property Agreement:||$35|
|HIPAA Authorization and Release Form:||INCLUDED|
|Advance Funeral Directive:||INCLUDED|