Final Papers

by Sandra L. Strissel

Like most people, you don’t want to have to think about what happens if you become incapable of handling your financial affairs, or if you should die. Documents such as advanced directives, powers of attorneys, and wills are frequently prepared by lawyers to assist people in expressing their final wishes.

An advanced directive is a document that identifies who you wish to make health care decisions for you. It may become operable to your designee when you are unable to make health decisions for yourself or at the time that you sign the advanced directive itself. The directive outlines what type of procedures you wish to have, or decline to receive, such as tubes for nutrition and water. Addendums to the advanced directive include what you want to happen after you die. Cremation, burial arrangements and memorial service preferences are often included in the addendum.

A power of attorney is a document that identifies who you wish to make business or financial decisions for you in the event that you are unable to handle those decisions. It is important to designate an individual that you trust, as these documents are extremely powerful and may be subject to abuse. The designee of a power of attorney may do anything you can do simply by signing your name. Such as selling, buying, transferring, giving or otherwise disposing of your property.

A last will and testament is a document wherein you indicate who has the authority to handle your final affairs and who you want to receive your property. If you don’t have a will at the time of your death, the Maryland Estates and Trust Article from the Maryland Code will determine who inherits your property, but you may not want what the government may think is best. For example, the Maryland Code does not provide for the surviving spouse to receive all of your property upon your death in all circumstances. Moreover, the children that you care about do not automatically inherit from you.

In preparing for a meeting with an attorney to prepare these documents, you should consider a trustworthy individual (and a contingent person) who can handle your affairs. You should know the nature and extent of your assets and who you want to receive them. Also consider, that if something happens to your chosen beneficiary, do you want their children to receive the assets or perhaps someone else?