Wills
Since your family is expanding, you may want to do the following:
Write or update your will: Your will decides who will inherit your property, become the guardian of your children, and who will handle your financial affairs in the event of your death. If you don ' t have a will, the courts will decide who will become the guardian of your children and how you’ re assets are divided.
You may also want to get information or advice on:
Naming a guardian so that plans are in place in case you and your spouse are unable to take care of your child. Make sure to discuss this with the guardian you choose.
Power of Attorney( POA): A document that allows another person to make financial and legal decisions for you.
Representation Agreement: Like a Power of Attorney but it is more complex because it is more detailed. It allows a person to make personal and health care decisions for you.
Wills
Living Will: Also called an“ Advance Directive for Health Care” or a“ Personal Declaration”, it allows you to express your wishes about dying.
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Estate Planning: Looks at ways to transfer assets to your loved ones outside of a will, without tax and other costs.
Although you can use a kit to write your own will, it’ s a good idea to get help from a lawyer or notary public to make sure your will is legal.
Before signing any legal document such as a Power of Attorney, consult a lawyer to help you understand all of the implications, including the risks and benefits
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