Uop Week 5 Must Have Worksheet Essay Example
University of Phoenix Material
Must-Have Documents Worksheet
In the assignment for Week 5, you completed the four must-have documents: a will, living revocable trust, advanced directive, and durable power of attorney for health care. Congratulations! You have done something unfortunately too few people take the time to do, yet something that is absolutely essential to your ability to protect yourself and your family. If you have not already done so, take a moment to give yourself a pat on the back. You deserve it! Now it is time to talk about what you have done.
Answer the following questions about the must-have documents. Each response should be 50–150 words in length.
Purpose of Documents
1. What is the purpose of a will? The purpose of a will is to make it known exactly how you want your affairs taken care of after you have passed. Those affairs could be anything such as your property, money, or children. A will helps to make sure things are carried out correctly and hurried.
2. What is the purpose of a living revocable trust? A revocable trust is a document that is drawn up for an individual while they are alive as to how they would like for their stuff to be handled when they have decessed or are incompacitated for any reason. This is a very important paper for the fact that this can be changed whenever the owner wants to change it without penalty or charge. They are allowed to update this as often as needed.
3. What is the purpose of an advanced directive and durable power of attorney for health care? An advanced directive is a document that you have already had drawn up to let your health care providers exactly what your level of medical needs and wants are. A durable power of attorney is anyone that you decide that you would like to speak for you in the event that you are incapacitated
Document Information and Completing Documents
4. What sorts of information were you required to
Must-Have Documents Worksheet
In the assignment for Week 5, you completed the four must-have documents: a will, living revocable trust, advanced directive, and durable power of attorney for health care. Congratulations! You have done something unfortunately too few people take the time to do, yet something that is absolutely essential to your ability to protect yourself and your family. If you have not already done so, take a moment to give yourself a pat on the back. You deserve it! Now it is time to talk about what you have done.
Answer the following questions about the must-have documents. Each response should be 50–150 words in length.
Purpose of Documents
1. What is the purpose of a will? The purpose of a will is to make it known exactly how you want your affairs taken care of after you have passed. Those affairs could be anything such as your property, money, or children. A will helps to make sure things are carried out correctly and hurried.
2. What is the purpose of a living revocable trust? A revocable trust is a document that is drawn up for an individual while they are alive as to how they would like for their stuff to be handled when they have decessed or are incompacitated for any reason. This is a very important paper for the fact that this can be changed whenever the owner wants to change it without penalty or charge. They are allowed to update this as often as needed.
3. What is the purpose of an advanced directive and durable power of attorney for health care? An advanced directive is a document that you have already had drawn up to let your health care providers exactly what your level of medical needs and wants are. A durable power of attorney is anyone that you decide that you would like to speak for you in the event that you are incapacitated
Document Information and Completing Documents
4. What sorts of information were you required to