Wills- A testament is a document that indicates to your loved ones how you will want your assets to be distributed when you die. This document gives instruction to your executor to fulfill your last wishes. Furthermore, if you have minor children, you may make provisions for how and by whom they will be taken care of if you die before they reach the age of majority.
Power of Attorney- There are two common power of attorney documents: financial and personal care.
A financial power of attorney allows one or more individuals to handle your financial affairs if you become incapacitated or if you are unable to yourself for whatever reason.
A personal care power of attorney allows you to designate an individual who will make decisions regarding your personal and health matters should you become incapacitated.
Before you sign a power of attorney, you must have the utmost trust in the individual you designate as your attorney, as these documents give them the power to make decisions of your behalf.