The will acts is a directive to your executor for how you want your assets to be distributed. As long as these assets are less than $150,000, then this can be done with a small estate affidavit and opening an official probate case is not necessary.
The Health Care Directive
A health care directive and health care power of attorney is something that many of us avoid thinking about. However, it is beneficial to the individuals that must make decisions on your behalf. There can be feelings of guilt or remorse if there is not a plan for your healthcare in the event that you become incapacitated. A healthcare directive removes that emotional burden from your healthcare agent by providing them with a clear plan on your desires for treatment during those difficult end of life moments.
A healthcare directive may also help keep your estate solvent by reducing unwanted medical costs.
Finally, the act of creating a healthcare directive forces us to converse with our loved ones about these issues and can help provide further clarity on the matter.
Nomination of Guardian
The nomination of guardian is a stand alone document that nominates your preference for a guardian. The person you nominate can use this document to show a judge that he or she should be the legal guardian of your minor child.
The Power of Attorney
A power of attorney will help a trusted individual manage your finances in the event that you become incapacitated. Often times people are tempted to make their trusted individual a joint account holder. However, this can have many negative consequences. First, if the joint account holder has debt issues, then his or her creditors can seize the money in your joint account. Additionally, the joint account holder will receive all of the funds in the account at the time of death. This may not be desirable if you have multiple intended beneficiaries of the account.
The power of attorney eliminates these issues by giving the trusted individual power over your accounts, while leaving title solely in your name.