1. Last Will & Testament: A will is a written document that sets out a person’s desires and wishes as to how he or she would like his or her estate to be distributed after death. A will takes effect after the testator has passed away. You may have also come across the expression “living will” which is used to refer to a document in which you posit what you would want to happen if you were to become ill and unable to communicate your wishes about treatment. To ensure that your estate is distributed in a fair and equitable manner as per your wishes, it is in your best interest to consult a lawyer that can assist you with drafting a will as per your desires.
2. Power of Attorney: In simple terms, a Power of Attorney is a legal document in which you give an individual whom you confide in, in this case, your ‘attorney’, the right to make decisions on your behalf if some unfortunate event were to happen to you and /or you are unable to see after your affairs on your own. For a Power of Attorney for Property, the individual you name as your attorney can execute decisions with respect to your financial affairs, such an selling a property on your behalf or collecting money on your behalf etc. It is imperative to choose the right person to act as your Power of Attorney for property. It should be someone you genuinely trust and someone you know would do the right thing on your behalf and in fact follow your instructions.