Life was moving fast on March 30, 1981. An assassination attempt on President Reagan had shaken the government to its core. While Reagan was in surgery, then Secretary of State Alexander Haig proclaimed, “As of now, I am in control here in the White House.” His statement is memorable because it was wrong. Other officials were in charge with Reagan out of commission. Now, this day has become a quirky “holiday” called National I Am in Control Day. It’s a time to celebrate taking control of our lives. But this shouldn’t be just a day of cleaning out closets or starting that Google calendar that surely will make you an organizing wizard. Instead, use your time to take charge of your estate planning.
Estate Plans Are All About Control.
The most basic estate planning documents is the Last Will and Testament, commonly known as a Will. Yet, roughly 56% of Americans don’t have one. That’s too bad, because a Will is used to direct what happens to your estate assets after you pass away. Though your Will must comply with Virginia law, there’s plenty of room for expression and control. The person executing the Will (the “testator”) chooses who will receive their property and who will serve as personal representative of the estate. If the testator has children, a Will is the place to name who will care for the children if something happens to the testator.
Another recommended estate planning document is the durable power of attorney. By signing this legal document, you can name an agent to make decisions for you. Even though that sounds more like you are ceding control, you still decide when the agent’s authority kicks in, the time frame for the agent to have authority, and even what decisions the agent may make.
The advance directive allows you to have some control over your medical treatments, even if you are unable to communicate. You’ll state what kind of health care you want and what kind you don’t want. Like the durable power of attorney, you can choose an agent to speak for you if the time comes that you can no longer speak for yourself.
What’s Holding You Back?
You have an estate plan, right? If not, this is time to get started.
The attorneys at Dillon Law Group, PLC can help you control your future by crafting a comprehensive estate plan. Please contact us at 757-962-4796 to set up an appointment or use the Contact Form on our website, https://www.dillonlawgrp.com/. We have offices in Virginia Beach and Newport News.