What Are All These Documents?
LIVING WILL & MEDICAL POWER OF ATTORNEY
Also called Advanced Health Care Directives, this document (which combines both
the Living Will and Medical Power of Attorney in one document), appoints another
adult to act for you and make medical decisions for you in the event, and only
in the event, that you become unable to make or communicate those decisions yourself. It
states the powers that you give to that other person, such as hiring and firing
doctors, and giving or withholding medical treatment. Your desires and
feelings about specific medical situations are spelled out in detail in the document,
so the person you have appointed has guidelines of your wishes. With this
document in place, others (such as relatives) will not be able to make medical
decisions for you.
DURABLE POWER OF ATTORNEY
Functions
much as the medical power of attorney, but deals only with financial
matters. The
durable power of attorney allows the person you have named, (your agent),
to step in and deal with your financial affairs in the event that you are
unable to handle things yourself. Thus, if you are hospitalized, and
unable to function normally, your agent will be able to cash your paycheck,
pay the mortgage, etc. without any further effort on your part. This
document is usually structured so that you need not have a disability in
order for the agent to act. If you are suddenly called out of town
on an extended business trip or family emergency, for example, the person
you have appointed will be able to keep financial matters up to date while
you are gone. This power is “durable” because it functions
even after you become disabled, but it can be revoked by you at any
time.
WILL
States your wishes in the event of your death. It states who is to receive
what items of your property. It also appoints another adult of your
choice to act as Personal Representative (executor), to carry out your wishes,
and probate your estate, if necessary. It states your preference as
to who should be guardian for your minor children, and how any money
or property left to them is to be handled until they become adults (or the
age you direct, such as 25).
LIVING TRUST
This functions similar to a will, but there are several differences. This
document begins working in the present (hence the name “living”). All
of your assets are put into the trust and all future assets should
be put into the trust. You do not lose control, however. You
continue to buy, sell, transfer items, etc. just as you have been doing,
but as the trustee of the trust, instead of in your own name. The
only difference is that upon your disability or death, another adult
whom you have appointed, (the successor trustee or co-trustee), steps
in and continues to deal with your property according to your instructions,
which are detailed in the trust. Upon your death, your property
passes as you have instructed, without having to go through probate,
and because the trust doesn’t have to be filed with the court,
it is not a public document.
BENEFICIARY DEED
A
beneficiary deed allows you to retain title to your real property,
but designate a beneficiary to receive the property upon your death. Often
used as a means to avoid probate, Arizona is one of the first states
to make provisions for beneficiaries on real property.
DOMESTIC PARTNER
AGREEMENT
This highly customized document spells out the agreements between you and
your partner. It delineates who owns what and how you deal with financial matters. Similar
to a prenuptial agreement, this document primarily is between you and your partner. No
one need know it’s contents, or even that it exists. It does function,
however, to clarify your understandings and refresh memories, years after decisions
were made. It also clarifies these matters to outsiders, in the event
of death or disability. For instance, a relative may not come in suddenly,
in the event of your disability, and evict your partner from your home. This
document also may be used in the case of a termination of the partnership, to
protect the interests of both parties and help ensure that the original agreements
are followed. It may be modified or revised as your circumstances and agreements
change.
CO-PARENTING AGREEMENT
A
co-parenting agreement also is a very individualized document that
helps to define the relationships in a non-marital family with children. It
will state that even though Partner A is the biological parent, it
is the intent of both parties to co-parent the child. It will
state the rights and obligations of both parties in relation to the
child, and particularly defines the rights and obligations in the event
of the death or disability of the legal parent, or in the event of
a dissolution of the partnership.
DELEGATION OF PARENTAL AUTHORITY
This
is a relatively simple form that grants guardianship-type powers to
another person. It is only good for six months, and must therefore
be redone every six months. It gives most parental rights to
another without the legal parent giving up any rights. With this
document, a non-legal parent has the right to grant medical treatment,
pick up a child from school, sign permission slips, etc.
DONOR INSEMINATION AGREEMENT
This
contract is between the known donor and the recipient of sperm for
artificial insemination. It specifies the terms of the agreement
between the parties regarding such areas as support payments, custody
and visitation rights, disclosure of parentage, (whether it will be
disclosed or not, when and to whom), and recognition of the recipient’s
partner as a primary parent, if applicable. Although the courts
are not absolutely bound by the terms of the agreement, it is strong
evidence as to the parties’ original intent, and will be followed,
except when the “best interests of the child” would be
harmed by the terms of the agreement.