If you are 18 or older, you should have Advance Directives. These are legal documents that tell the world what you want and who can speak for you at a time when you may not be able to do so yourself. Advance directives include a Durable Power of Attorney, a, Living Will, and a Health Care Surrogate Designation or Proxy. A Living Will tells family and medical providers the kinds of treatment you would want in an emergency. The Health Care Surrogate or Proxy is the person who can speak for you regarding these matters. In a Power of Attorney document, you designate a trusted person who can help you manage your financial affairs.

Without Advance Directives, parents do not have the legal authority to make health care decisions or manage money for their children once they turn 18. Although some laws allow for next of kin to act in this capacity, parents don’t always agree about what their child would want. This could mean that if a young adult is in an accident or becomes disabled, even temporarily, a parent might need court approval to act on his or her behalf.

Parents should have a Preneed Guardian Designation for their children in case the unexpected happens. It is often not enough for you to simply let family members know what you want. If your choice is not documented properly, this process may result in a complicated legal battle in court.

Although on-line forms or out-of-state documents may be legally valid, they may prove to be insufficient for your needs. On-line forms are often generic, cover only limited situations, and do not always do what you want them to do. Out-of-state documents may contain provisions that meet specific requirements of the state in which they were drafted. However, because states vary, and because laws change, it is important to keep your documents up-to-date and consistent with the laws where you live.

A Living Will is a document that states what kind of health care you wish to receive, or refuse to receive, should you lose consciousness or capacity. A Will or Last Will and Testament, gives instructions for how you want your property and assets distributed after you die.

Read an article here and find out more about living trusts, the difference between a living trust and a will, the types of trusts and much more.