No, it's not what your dirty mind thinks it is.
WAP stands for Will, Advance directive, and Power of attorney. Think of these as the foundation of estate planning.
The Last Will and Testament gives instructions on what to do with your estate. An Executor or Executrix will make sure your estate goes to your beneficiaries.
The Advance Directive tells your doctors what level of care you prefer should you have an irreversible condition.
The Power of Attorney designates an agent to act on your behalf. You can designate one agent to handle your financial affairs and another to handle medical decisions.
This is estate planning with more work involved.
PAW'D stands for Power of attorney, Advance directive, Will, and Deeds. These are like the contouring of estate planning.
A Deed conveys ownership of real property. Deeds come in many colors.
There are a number of things one can do to plan and protect their estate. These would be the highlights and other accessories of estate planning.
A Trust is an entity that can own property for the benefit of someone else. Trusts come in many shapes and a variety of shades.
The Do Not Resuscitate document is an important part of your medical treatment when your condition reaches a specific point.
This allows you to list your preference for a guardian should it be necessary.
Prepare now while you have the ability to do this. You get to decide these matters. Planning your estate and getting at least a WAP can save your family time, energy, and resources.
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