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Difference between revisions of "Older People and the Law"
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→Making a will
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A will is not the same as a '''power of attorney'''. A power of attorney sets out your <span class="noglossary">instructions</span> for dealing with your financial and legal affairs ''while you are alive''. (See the next section about powers of attorney.) | A will is not the same as a '''power of attorney'''. A power of attorney sets out your <span class="noglossary">instructions</span> for dealing with your financial and legal affairs ''while you are alive''. (See the next section about powers of attorney.) | ||
In your will, you need to name someone to be your '''executor'''. This is the person who carries out the instructions in your will. The executor of your will is not automatically the same person as your power of attorney unless you appoint the same person as your executor and as your attorney. | In your will, you need to name someone to be your '''executor'''. This is the person who carries out the <span class="noglossary">instructions</span> in your will. The executor of your will is not automatically the same person as your power of attorney unless you appoint the same person as your executor and as your attorney. | ||
Most people ask a family member or close friend to be their executor. You can also ask a lawyer or private trust company. You should name a backup executor in case the person you choose isn't able or willing to do the job at the time. Then the backup can take over. | Most people ask a family member or close friend to be their executor. You can also ask a lawyer or private trust company. You should name a backup executor in case the person you choose isn't able or willing to do the job at the time. Then the backup can take over. | ||
