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January 07, 2010
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The Health Care Power Of Attorney And The Living Will Are Called Advance Directives

In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Care Power of Attorney and the Living Will are called advance directives. A Living Will sets out medical treatments you choose to have, as well as the procedures or treatments you do not want to have in some or all circumstances. Note that a Living Will is different than a Last Will and Testament. A Living Will is instructions for your doctor, while you are still alive.  A Last Will and Testament is instructions to your personal representative and the probate court, only to be used after your death. A Living Will is different from a Health Care Power of Attorney in that the Living Will does not appoint another person to speak for you. It speaks for you in writing. While a Health Care Power of Attorney can include written instructions for your patient advocate to follow, the choices do not have to be included for the Health Care Power of Attorney to be used. If a Living Will also includes your choice as patient advocate, it automatically becomes a Health Care Power of Attorney and must follow the state law requirements for witnesses, required language, etc. Since a Health Care Power of Attorney form is widely available, and is enforceable by Michigan statute, it is the smartest choice if you are concerned about these issues.

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Did You Know?    
 
 
The costs and expenses of a conservatorship are paid by your estate
A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.

 


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Latest news about Financial & Estate Planning in Baltimore and nationwide:

Economic Benefits Of Estate Tax Repeal Should Be Made Permanent
WASHINGTON, D.C. - The positive effects of repealing the estate tax should be made permanent, Vice Chairman Jim Saxton said today in releasing a ne...
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Making A Will
The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepa...
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Estate Planning Terms

 


Today's Terms

Transfer Tax

Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).

Personal Property

Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.

Tenancy-in-Common

Definition:
A form of ownership of property in which two or more persons share ownership (may be equal or unequal shares). At the death of a tenant-in-common, his/her share in the property transfers to his/her heirs, rather than to the other surviving owner(s). Compare with Joint Tenancy.

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Estate Planning Resources

 


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Estate Planning Hot Topics

 
Topics Related to Estate Planning:

  • Trusts
  • Wills
  • Uniform Probate Code
  • Gift Tax

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Baltimore Estate-Planning Attorney

 
If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

  • Annapolis
  • Baltimore
  • Capitol Heights
  • Catonsville
  • Columbia
  • Cumberland
  • District Heights
  • Dundalk
  • Elkton
  • Ellicott City
  • Essex
  • Fort Washington
  • Gaithersburg
  • Germantown
  • Glen Burnie
  • Gwynn Oak
  • Hagerstown
  • Hyattsville
  • Lanham
  • Lutherville Timonium
  • Middle River
  • Nottingham
  • Owings Mills
  • Parkville
  • Pasadena
  • Potomac
  • Rockville
  • Silver Spring
  • Sykesville
  • Temple Hills
  • Upper Marlboro
  • Westminster
 


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