SJM_Nesevich Law Top5_1224_profile 12 / 20 / 24 2 : 49 PM Page 1 Will s p o n s o r e d p r o f i l e sjm Your will determines what happens to your assets upon your passing . From ensuring the family heirloom is passed down to whom you want to receive it , to charitable bequests and more , your will is the guide that the executor will follow to deal with the assets you leave behind . Your will can also be used to assign guardians for your minor children and create trusts to protect the assets you leave behind . Power of Attorney A power of attorney allows you to designate the right person to take specific financial actions on your behalf such as signing checks to pay your bills . Without a durable power of attorney , should you become inca - pacitated , your family may be left to deal with a guardianship proceeding and there is no guarantee a judge will appoint the person that you would have chosen . Designating your power of attorney ahead of time ensures that your wishes are met and that someone is available to make decisions when they need to without having to wait for the court to give them the legal right to do so . Health Care Power of Attorney Similar to the agent named in your power of attorney , your agent named in your health care power of attorney has the legal authority to make health care decisions on your behalf when you can’t make them for yourself . It avoids conflict among family members who may have different opinions about options related to your care . This may be the FIVE ELEMENTS same person as the one named in your power of attorney , or you may decide you’d like different people making decisions about your finances and your health care . TO A FOOLPROOF HIPAA release Your HIPAA release dictates who is able to get infor - mation from your medical professionals and ask questions on your behalf . Unlike your health care ESTATE PLAN power of attorney , people listed under your HIPAA release will not be able to make health care decisions but can be Russ Nesevich discusses five essential documents informed of your condition and treatment plans . to safeguard your legacy . by CHELSEA VALCOURT Living Will Your living will outlines your wishes when it comes to end - of - life medical care and can become the most oone likes thinking about their death , but the truth is it important document of your life — literally . It can comesfor everyone — and it’s best to be prepared . Proper determine how long you’d like to remain on life Nplanningcan help loved ones navigate everything from a support if needed , your preferences regarding pain management , division of property to health care decisions based on your yourpreferences regarding hydration and nutrition , and more . ownwishes . It can prevent your family from having to make hard and Life is uncertain , so it is recommended that anyone over emotional decisions during an already difficult time , because theage of 18 engages in some level of estate planning . Then , you will have already made those decisions for yourself . the estate plan should be reviewed every 3 - 5 years and after every major life event — like getting married , buying a house As a bonus , Nesevich discussed the potential benefits of orhaving a baby — to ensure it is up to date with your current placing your assets into certain kinds of trusts . While not for assetsand still aligns with your wishes . everyone , a trust can provide additional privacy for those who Anestate plan is more than just a will and can have a real need it , or make probate easier if an estate is particularly com - impacton your final days and what you leave behind for your plicated ( like owning real estate in multiple states ) . In addition , lovedones . getting assets into certain kinds of trusts early enough can Russ Nesevich , founder of Nesevich Law , shared with potentiallyprotect those assets from long - term care costs . South Jersey Magazine the top five components to a solid Contrary to Hollywood films , estate planning isn’t just for estate plan — plus a bonus sixth element that can help to thewealthy — everyone should , at a minimum , have their basic shelter your assets from long - term care costs . n documents in place . Moorestown & Manalapan ( 856 ) 439 - 6223 | NesevichLaw.com Nesevich Law , LLC SOUTH JERSEY MAGAZINE volume 21 issue 9 SouthJerseyMagazine.com 38 |