Here’s 1 Thing Everyone Should Do With Their Estate Plan for Free

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Did you know estate planning isn’t just for the wealthy or the elderly? No one can predict the future, meaning knowing how long you’ll live is impossible. With this in mind, it’s important to have the proper legal documents in place to alleviate financial and emotional struggles on behalf of family and friends. Here’s the one thing everyone should do with their estate plan that won’t cost you anything. 

Create a Healthcare Directive

A healthcare directive, commonly referred to as an advance directive, is a legal document that outlines who will make health decisions on your behalf if you become unable to do so. For example, who will speak on your behalf if you are in a serious car accident and cannot make your own decisions? 

Without a healthcare directive in place, the state could assign someone that you may not want. For example, for married couples, this designation often moves to the other spouse. For children, the decision goes back to the parents. If you have a significant other or a specific family member or friend that you want to make those decisions, you need a healthcare directive in place.

Your healthcare directive will contain two important components: a living will and a healthcare power of attorney. The healthcare power of attorney designates an individual to speak on your behalf, while a living will outlines how you want to be cared for. For example, if you are brain dead, your living will might state that you do not want to remain on life support. 

How To Complete a Healthcare Directive for Free

Generally, a qualified attorney can put together a healthcare directive for a fee. These fees can add up, costing you hundreds of dollars. The good news is that you have other options than paying costly legal fees. The National Alliance for Care at Home and AARP have free healthcare directive forms you can print and fill out. Forms will differ by state, so be sure to source the correct form for your home location. 

Once you have filled out the forms, they must be notarized or signed in front of a witness. This can be done at your bank for no cost. After this process is complete, you will have legal forms in place that carry out your healthcare wishes. 

It’s also important to notify the individual who will become your healthcare power of attorney and provide them with a copy of your directives. This will avoid having to search for the formal document if an incident does occur. Additionally, be sure your primary medical provider has a copy of your directive on file. 

Don’t Wait, Start Now

Do you have a healthcare directive in place? Whether in your 20s or 70s, taking a proactive approach to estate planning is important. You don’t want the state to appoint an individual on your behalf. Spending an hour of your day to prepare this form and seek a notary can save your family hours of painful decisions.

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