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OT: Important Documents
 

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lrzipris
Joined: 04 Mar 2004
Posts: 494
Location: Doylestown, PA

4/8/20 11:42 AM

OT: Important Documents

Not just because of the coronavirus/COVID-19 crisis, but because cycling can be dangerous, I want to encourage everyone to execute several important legal documents: #1 is a will; #2 is a financial power of attorney (POA); and #3 is an advanced health care directive.

If you are unfamiliar with the last two, #2 authorizes someone you have appointed to make financial decisions if you are unable to do so, and #3 outlines your wishes about medical treatment and measures to preserve your life and appoints someone to make those decisions when you can't.

POA forms, which vary state-by-state, can be found on-line, although I don't have a readily-available single source; they generally track language in a governing statute, which will outline what must be included. For state-specific health care directives, look here: https://www.aarp.org/caregiving/financial-legal/free-printable-advance-directives/

Forgive me if this seems "doomy and gloomy" but I've been helping a cycling friend prepare his POA and advanced health care directive. Especially in light of the present health/medical emergency, I encourage people in this virtual community to execute these three documents.

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Steve B.
Joined: 19 Jan 2004
Posts: 754
Location: Long Island, NY

4/8/20 12:05 PM

Funny you should mention. My wife and I just did all of these 2 weeks ago. My wife and I have no children and in NY State, surviving spouse gets the estate, but what a headache if we both die and there’s no executor.

Good advice though.

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lrzipris
Joined: 04 Mar 2004
Posts: 494
Location: Doylestown, PA

4/8/20 12:25 PM

The advanced health care directive is the one that most people, in my experience, have difficulty facing. Taking my wife off life support was the hardest decision I've ever had to make. Knowing that decision is in harmony with the person's wishes can help--not much, but a little.

The POA can provide decision-making authority during incapacity and before death, when the executor under the will would take effect, through probate. The format for a POA varies from state to state but typically there is allowance for personalization.

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Sparky
Joined: 08 Dec 2003
Posts: 17730
Location: Portland, OR

4/8/20 12:46 PM

Question, unless stated otherwise, is a PowerOAtt continuous. As in does it need to be redone/subject to expiring etc.

And, can you do/edit existing will thru internet resource and if yes how to make it a legal document. Notary at bank sufficient??


Last edited by Sparky on 4/8/20 1:06 PM; edited 1 time in total

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Andy M-S
Joined: 11 Jan 2004
Posts: 3219
Location: Hamden (greater New Haven) CT

4/8/20 12:55 PM

A GOOD IDEA!

I just did a set of these for a couple, and it occurred to me that Tess and I need to do it. The problem is the pandemic--In Connecticut, while you can remotely notarize, many of these documents require multiple witnesses, and there is no provision for doing that remotely. Fortunately, we have a BIG conference table available, and everyone was wearing a mask...

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lrzipris
Joined: 04 Mar 2004
Posts: 494
Location: Doylestown, PA

4/8/20 1:33 PM

Sparky, you can find an Oregon-specific form here: https://powerofattorney.com/oregon/ Use it as a model and modify it. State when you want it to take effect and when you want it to expire; my advice is to make it effective as of your incapacity and to expire upon your death. Once executed, a POA will continue in effect unless revoked or until whatever contingency you've stated (e.g., your death) causes it to expire. If you name your spouse (Elaine, right?) as agent, consider a back-up (your son?), if she can't or declines.

A notary at the bank is satisfactory; as Andy points out, at least one witness (possibly two) will be required at the execution. Note that many parcel shipping stores have notaries.


Last edited by lrzipris on 4/8/20 1:36 PM; edited 1 time in total

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Sparky
Joined: 08 Dec 2003
Posts: 17730
Location: Portland, OR

4/8/20 1:36 PM

We have one I got at the lawyer about two years ago. Thus the expiration/need to update question. Don't use him anymore and will not call to ask, don't ask.

Last edited by Sparky on 4/8/20 2:32 PM; edited 1 time in total

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lrzipris
Joined: 04 Mar 2004
Posts: 494
Location: Doylestown, PA

4/8/20 1:41 PM

Sparky, unless your POA has something in it about when it is to expire, it is on-going and does not need to be re-executed.

If you don't have the advance health care directive, make sure you do that, too.

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dan emery
Joined: 11 Jan 2004
Posts: 6375
Location: Maine

4/8/20 3:11 PM

“It occurred to me...”

The cobbler’s son has no shoes, eh Andy? 😀

I should talk. I recently updated estate stuff for the first time since 1992. I don’t think that it hurts to consult, even for seemingly simple stuff, with a lawyer who knows what she’s doing. I went to a former colleague and she influenced even the way I completed the advance directive. Money well spent.

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Andy M-S
Joined: 11 Jan 2004
Posts: 3219
Location: Hamden (greater New Haven) CT

4/8/20 5:03 PM

The thing that slowed me down was how to deal with online assets and accounts. Connecticut will not allow inclusion by reference, so I can’t say “see the blue book for passwords,” for example. I’ve solved that, but I kept putting it off before The Virus. If I get through this as I expect, I’ll be putting a will together ASAP.

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dfcas
Joined: 11 Jan 2004
Posts: 2647
Location: hillbilly heaven

4/9/20 10:47 AM

I donated my body to medical research at the local med school, but one thing they stated on the form was that if you are septic they will not take you. The other thing was there is a weight limit of 250 lbs, being its WV and more people may be over than under:) I'm well under at this time....

I assume that if I get Covid-19 and die from it, they won't take me.

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greglepore
Joined: 10 Jan 2004
Posts: 1680
Location: SE Pa, USA

4/15/20 5:53 PM

I need to redo mine. It was easy in Pa, where I was licensed. Now retired in Va I've been dragging my feet.

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