Jacklynn is an Associate with Duncan Craig LLP. She practices primarily in the area of Litigation with an emphasis on Personal Injury and Estate Litigation.
Lisa and Jacklynn talk about wills, why even young people need them, how to go about getting a will, and what each part of your estate plan covers.
Key Points and Questions[1:00] I’m young, why do I need a will?
[1:20] You want to make sure only close family are able to make decisions regarding your life and property.
[2:09] What are the steps involved in getting a will?
[3:00] 2 short meetings can save you lots of time and issues in the future.
[3:29] If you have small children, it’s critical that you are clear on who their legal guardian will be.
[3:53] You should have a will made up by the time you are 18 years old.
[5:22] Most people are familiar with a will but, can you tell us more about a power of an attorney and a personal directive?
3 Parts Of An Estate Plan
- Will – Determines what happens in the case you become deceased or lack capacity.
- Power of Attorney – This is a document where you appoint someone to deal with your finances. There are 2 types: one is an immediate power of attorney that happens right away, and the other is a Spring Power of Attorney, which only comes into effect when you lack capacity.
- Personal Directive – This is the person appointed to make your health care decisions when you lack capacity.