“Better Safe than sorry”
“Hope for the best, prepare for the worst”
There are tons of sayings we’ve all heard that essentially boil down to giving yourself extra protection. Regardless if there are changes in the world out there or changes to your life within your household, many may find it necessary to make sure their family is protected. Below are a few ways to achieve extra protection for your family and address some of your concerns
Powers of Attorney (Financial and Healthcare): These documents are extremely useful and make it very clear who you want to make decisions on your behalf when you are not available or unable to make decisions. These documents remain effective until you terminate them or you pass away. There are two types that you should consider having completed.
A Financial Power of Attorney designates a person who is allowed to do things like manage bank accounts, file taxes, sign contracts on your behalf.
A Healthcare Power of Attorney designates a person who can make healthcare decisions when you are unable to do so. Your Healthcare Agent, which is what that person is called, is who doctors and other healthcare professionals will turn to when decisions need to be made about your healthcare while you are incapacitated.
Final Will: A Will allows you to dictate what happens to your “estate.” Your estate will include property that you “own” after you have passed away if said property’s ownership did not transfer upon your passing. You are able to include individuals who would otherwise have a claim to any of your estate (things) under the intestate succession laws of North Carolina.
Naming Beneficiaries. Certain accounts – most commonly retirement accounts and insurance policies -allow you to name a person that you want to get the account/policy when you pass away. You are allowed to name essentially anyone you wish and that designation will be honored regardless of how someone else may feel about that decision.
Being in a space of uncertainty for anyone can be an extremely stressful situation. While these tools are useful for anyone, for those in same-sex relationships or romantic relationships without marriage, these legal tools are especially useful. These tools ensure that your desired wishes regarding your estate and who is allowed to make decisions on your behalf are honored regardless of any potential changes in your relationships or the law.
If you or somebody you know wants to learn about estate planning tools, our team at Modern Legal is here to help.
Please note: these educational materials are based on North Carolina law where my legal practice is based. While the insights may have wide applicability, readers should consult with an attorney regarding the specific laws in their state or country.
Family is at the heart of everything I do, both personally and professionally. As a Family Law Attorney, I combine my passion for helping others with my unique journey—from growing up as the eldest child in a single-parent household to becoming the first attorney in my family. My experiences shaped my dedication to advocating for families in their most critical moments. Whether you’re building, protecting, or securing your family’s future, I’m here to help you find meaningful resolutions tailored to your needs.
