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Joe Diamond, CPA, CFP®, EA, MST

 

Diamond Financial Corporation

4256 North Arlington Heights Road, Suite 204

Arlington Heights, IL 60004

 

Phone: 847-884-8500 

 

Email: customerservice@diamondfinancial.com

Website: www.diamondfinancial.com

May/June 2020

Three Important Documents

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1. Will -
A will is needed by most people, even when they don’t have great wealth. More than a way to direct how your assets are distributed, a will can also provide crucial instructions for taking care of minor and special-needs children.


2. Powers of Attorney -
The financial powers of attorney names a person who will handle your financial affairs if you can’t. Two common types of these assignments are:
  • Limited powers of attorney for singular events, such as an absence when signing a legal document is required, and

  • Durable powers of attorney, which typically goes into effect when people are incapacitated and can’t make financial decisions for themselves. In this case, it is important to clearly define the incapacity that would activate the powers.


3. Advance Directive -
When you can’t make healthcare decisions like end-of-life treatment for yourself, an advance directive can provide general guidance. Alternatively, you can assign healthcare, or medical, powers of attorney to individuals who would make these decisions for you. Consult with your family and legal advisor to make these and other estate strategy decisions carefully.


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Advisory Services offered through Diamond Financial Corporation, Registered Investment Advisor. Custodial Services provided by TD Ameritrade. Member FINRA/SIPC/MSRB.
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