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A
comprehensive estate plan may include a
will, a letter of last instruction, a durable
power of attorney, a health care power
of attorney, a living will, an advance
instruction for mental health treatment,
and a trust. Your attorney can help you
decide which documents you need to
achieve your estate planning goals.
Will |
A will is a legally enforceable declaration of how you want your property to be distributed at death. A person who makes a will is called a testator. When a person dies leaving a will, he or she is said to have died testate. A person who dies without a will dies intestate. For more information, see the section Wills.
You can make life after your death much easier for your survivors if you share basic information with them. Keep your important documents in one place and leave a handwritten or typed letter of instructions with your personal representative and family. Keep a copy of the instructions with your will. Include in the letter at least the following information.
A letter of last instruction provides organization and a checklist for your survivors at a difficult time.
A durable power of attorney is a document in which you give someone the legal right to act for you. The person you nominate is called your "attorney-in-fact" or your "agent." You are called the principal. For more information, see the section Durable Power of Attorney.
A health care power of attorney is a durable power of attorney that gives someone the right to make your medical decisions for you when are unable to do so. The person nominated is called your "health care agent." You are called the principal. For more information, see the section Health Care Power of Attorney.
An advance instruction for mental health treatment is a document in which you indicate how you want certain decisions about your mental health treatment handled. You may use this document alone or in conjunction with a health care power of attorney. The language in the document makes it most appropriate for use by people who suffer from psychotic disorders, such as schizophrenia, paranoia, bi-polar disorders, etc. For more information, see the section Advance Instruction for Mental Health Treatment.
A living will is your statement that you want to die a natural death. You do not want your life prolonged by artificial means if there is no reasonable hope of recovery. In North Carolina, the technical name for a living will is "Declaration of a Desire for a Natural Death." For more information, see the section Living Will.
A trust is a legal arrangement whereby the grantor transfers the legal title of property to a trustee to hold and manage for the benefit of the named beneficiaries. If the grantor is also the trustee, the grantor makes a declaration that he or she will hold the designated property as trustee, rather than as an individual. For more information, see the section Trusts.
Prepared by Carol A. Schwab, J.D., LL.M., Professor and Extension Specialist, NC State University.
This publication is provided as a public service and is designed to acquaint you with certain legal issues and concerns. It is not designed as a substitute for legal advice, nor does it tell you everything you may need to know about this subject. Future changes in the law cannot be predicted, and statements in this publication are based solely on the laws of North Carolina in force on the date of publication.
Date: May 2000
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