When a person dies without a will, their money and property will be distributed in accordance with the laws of the state they lived in. Some types of property, such as money in joint bank accounts or proceeds of a life insurance, will be distributed to the designated beneficiaries who are selected at the time of opening of the account or purchasing the insurance. But regarding money and property without such appointed beneficiaries, the most common way to control who receives it is by writing a will.

A living will is a legal document that spells out medical treatments you would and would not want to be used to keep you alive, as well as your preferences for other medical decisions, such as pain management or organ donation. You can also rely on someone you trust to be your Healthcare Proxy and make certain decisions for you.

A power of attorney (POA) is a legal document in which the principal (you) designates another person (called the agent or attorney-in-fact) to act on your behalf. It becomes useful when a person is incapacitated or is absent for extended periods of time while working abroad, attending training in a different state, etc. The document authorizes the agent to make either a limited or broader set of decisions. Power of attorney can be limited in scope to a specific transaction, to an area of business, or it can be broad enough to encompass many aspects of principal’s life.