Document Descriptions
We offer three (3) types of documents at
Wills-Online.com.
Below is a description of the purpose of each document.
Last Will & Testament (Will
Forms)
A Last Will & Testament outlines how a person (the
Testator) wishes to divide his or her assets amongst third-parties (known as beneficiaries). The testator will be able to assign certain rights and privileges, as well as assign financial debts and obligations (if desired). The division of assets and debts will be carried out by a named individual (the
Executor). Certain states have laws regarding "community property". As such, a community property will should be used. Some wills are also intended only for single individuals, while others are designed for married parties.
Living Will and Health
Care Power of Attorney (Advance Directive)
A Living Will and Health
Care Power of Attorney (Advance
Directive) allows a person (the Declarant), while healthy, to provide instructions regarding
the type of health care he or she wishes to receive in situations such as a coma or other critical medical condition where the person cannot communicate or be of sound mind. This document will also identify the person who will carry out these instructions (the
Attorney-In-Fact). In some states, this document is referred to as an Advance Directive.
Durable Power of Attorney
A Durable Power of Attorney is the document used when a person (the
Principal) wants to assign the authority to handle various matters to a second person (the
Attorney-In-Fact). These may include matters of finance, contracts, insurance, acquiring property, handling trusts, business affairs, hiring of attorneys and consultants, etc. The document can identify a beginning and ending date of this authority.
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