POWER OF ATTORNEY (POA)
WILL
LIVING WILL
A will is a legal document designating the transfer of your property and assets after you die. It’s the simplest way to ensure that your funds, property, and personal effects will be distributed ac- cording to your wishes after your death.
A living will takes effect when you are terminally ill and unable to express your wishes about your care. It documents the type of treatment you want, but it does not let you designate someone to make decisions for you.
A power of attorney identifies the person you want to make decisions on your behalf if you are unconscious or unable to make them. Two types of POAs: A medical power of attorney identifies the person you want to make healthcare decisions if you are unconscious or unable to make them. A financial power of attorney allows someone else to manage your financial affairs if you are medically unable to do so. This person(s) acts on your behalf in medical and financial situations when you aren’t able. Powers of Attorneys are legally binding and help with deci- sion-making in emotionally stressful situations.
WHAT IS IT?
WHY IS IT USEFUL?
Without a will, local courts will step in and distribute your property according to their state laws. It’s especially important if you have children because with it you can designate who you would like to be their guardian in the event of your death.
A living will can help ensure that you have a say in your healthcare treatment even if you are unable to express yourself verbally.
Consider the holistic needs of your lifestyle and family. Some questions to ask yourself could include: • Do I need to provide for a child who has a disability? • How much money will my grandchild need for college?
• Is it important to pass my property to my heirs in the most tax-efficient manner? • Do I need to establish a trust to provide for my spouse or other beneficiaries?
After you have thought about what is best for you and your family, use the information you gathered to carefully consider how you want to distribute your assets.
This is simply the tip of the iceberg when it comes to estate planning. While you can’t predict life’s outcomes, you can help prepare your employees with a legal plan offering like MetLife Legal Plans. Employees would benefit from sitting with an attorney to discuss all their issues and concerns around planning for their future. Legal plans are a voluntary benefit option that function like medical insurance. Paid through payroll deductions, a legal plan provides nationwide access to qualified and vetted attorneys. These attorneys can review documents and represent employees for a variety of personal legal matters. As a legal plan member, employees generally pay no attorney fees for covered services.
A legal plan is a cost-effective way to ensure employees are protected but also empowered to help themselves receive the best legal outcome with the help of an attorney.
*** MetLife Legal Plans is headquartered in Cleveland, Ohio. It is available through more than 220 Fortune 500® companies and includes a network of more than 18,000 attorneys nationwide. Plan members also have access to a Digital Estate Planning tool, an online “Ask An Attorney” feature, and a self-help library with over 1,700 legal ad- vice pieces at the click of a button. There are no copays, deductibles or claim forms when using a network attorney for a covered matter. Best of all, it includes unlimited consultations and document review, even for matters NOT covered under your plan except for plan exclusions.
Group legal plans are administered by MetLife Legal Plans, Inc., Cleveland, Ohio. In California, this entity operates under the name MetLife Legal Insurance Services. In certain states, group legal plans are provided through insurance coverage underwritten by Metropolitan General Insurance Company, Warwick, RI. For complete details of the coverage, call or write the company. MetLife Legal Plans | 1111 Superior Avenue, Suite 800 | Cleveland, OH 44114 L0824042789[exp0826][All States][DC,GU,MP,PR,VI] © 2024 MetLife Services and Solutions, LLC
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