The decision to write a will introduces people in Nevada to a host of other estate planning decisions. A living will and power of attorney represent two of the most important documents that supplement a person’s final arrangements. These instructions offer clear answers if a person becomes incapacitated.
A living will spells out the medical treatments that a person desires or opposes when that person cannot make decisions. It spares family members the need to guess about the medical interventions that a person might want performed. The document should assign healthcare decision-making to one person. An alternate can be named in case the primary person is dead or injured. Family members should know the location of the living will so that they can access it during an emergency.
If a person begins to decline mentally or experiences debilitating disease or injury, a durable power of attorney executed during better times allows a designated person to manage someone’s financial affairs. When people prepare this document, they should check with their financial institutions because those organizations might require additional paperwork or new signatures periodically. A list that describes bills to be paid, login information for online accounts and other digital assets and the location of Social Security cards, safe deposit box keys and estate plan paperwork will greatly aid the people who must attend to these matters. The list should be given to a trusted individual for safekeeping and should be updated as necessary.
A person who wishes to complete a last will and testament could discuss specific issues with an attorney. An attorney could draft living wills and powers of attorney and research how to make these forms compliant within the state. Advice about estate taxes and methods for transferring wealth privately could also be provided by an attorney.