A foundation for financial goals


 

Declaration of a Desire for a Natural Death

A Declaration of a Desire for a Natural Death is also called a Living Will. A Living Will directs the withholding or discontinuance of mechanical and/or extraordinary means such as a mechanical respirator, artificial or so-called tube hydration and/or tube fed nutrition if it is determined by a physician that you are in a persistent vegetative state or you are terminally and incurably ill. In North Carolina, physicians are permitted to rely on this document as an indication of your desire not to be kept alive by artificial means/to die naturally under the conditions previously described.

Post-Incompetency Durable Power of Attorney

A Post-Incompetency Durable Power of Attorney is an important financial document that permits one or more persons of your choosing to act on your behalf if you become physically incapacitated or mentally incompetent. The person named in the document to act for you is called the Attorney-in-fact. This person will have authority to pay your bills such as your mortgage and health insurance if you are in the hospital incapacitated due to accident or illness or some other cause and you are unable to act on your own behalf. Your incapacitation may be permanent or temporary. No one is given the power to act except in the event of incapacity. It is a springing power that only takes effect if and when you are incapacitated.

A general Power of Attorney ends when a person becomes incapacitated or incompetent whereas a Durable Power endures after the period of incapacitation or incompetency. Having a Durable Power of Attorney that takes effect only after a period of incapacity or incompetency begins is important. It protects you from someone being able to act for you while you are able to act on your own behalf, but permits a person you name to essentially pay your bills from your funds and conduct other transactions involving your property when you cannot do so for yourself. All Powers of Attorney end at death or when revoked by the Grantor.