Fill and Sign the Essential Legal Life Documents for Baby Boomers Michigan Form

© 2016 - U.S. Legal Forms, Inc. MICHIGAN LEGAL LIFE DOCUMENTS FOR BABY BOOMERS Control Number: MI-P003-PKG U.S. Legal Forms™ thanks you for your purchase of a Personal Planning Package. This package is an important tool to help you organize your legal affairs as you begin to think about entering a later stage of life. It contains key legal documents that are vital for you to maintain on file and safeguard in event of an emergency or unforeseen life event. TABLE OF CONTENTS I. Form List with descriptions II. Descriptions of Forms III. Legal Document Storage information IV. Tips on Completing the Forms V. Disclaimer I. FORM LIST With your Essential Life Documents for Baby Boomers package, you will find the state specific forms that will help you prepare for and protect yourself and your loved ones from events that may affect your health, your finances and your affairs after your death. Included in your package are the following forms: 1. A Last Will and Testament that suits your specific needs 2. A Health Care Proxy as a Living Will 3. A General Power of Attorney effective immediately 4. An Estate Planning Questionnaire and Worksheet 5. A Financial Statement for an Individual 6. A Personal Property Inventory sheet 7. Personal Planning Information and Document Inventory Worksheets. II. DESCRIPTIONS OF FORMS Brief descriptions of the forms contained in your U.S. Legal Forms™ Personal Planning Package are found below. Last Will and Testament – Complete this form to detail in writing your wishes regarding who is to receive your property at death and who will administer your estate. It also enables you to appoint trustees or guardians, if applicable. Health Care Proxy as Living Will - A Living Will form allows you to express your wishes and desires if it is determined that your death will occur whether or not life-sustaining procedures are utilized and where the application of life-sustaining procedures would serve only to artificially prolong the dying process. General Power of Attorney – Complete this form to give a person you that choose (the agent) the power to manage your assets and financial affairs while you are alive. The document must be signed by you (the principal) while you have the required legal capacity to give your agent clear and concise instructions. The appointment may be for a fixed period and can be revoked by you at any time providing you still have the legal capacity to do so. A power of attorney ceases when you die. The executor named in your will then takes over the responsibilities of your estate. Estate Planning Questionnaire – Complete this form to assist attorneys, estate planners, and other professionals with details regarding your home and other property you own and additional assets including investments, life insurance policies, individual retirement accounts and so forth so that they can best recommend a course of action regarding your estate. Financial Statement for an Individual – Complete this form to account for your current financial status. This form is a statement of assets and liabilities of an individual. The form contains sections that ask the individual to identify the following: current assets, current liabilities, deferred assets, and net worth. Personal Property Inventory – Complete this form to keep accurate records of your possession. This form provides a central place for an individual or family to itemize all the personal property that is owed and kept in a home. This form is beneficial for keeping accurate records for insurance companies or estate planners. Personal Planning/Documents Inventory Form – Complete this form to retain important information on file relevant to your life such as names of relatives, their contact information, your medical information, financial asset inventory, the location of your important legal documents and more. If you need additional information, please visit www.uslegalforms.com and look up forms by subject matter. You may also wish to visit our legal definitions page at http://definitions.uslegal.com/ III. LEGAL DOCUMENT STORAGE Once you prepare legal documents and forms in your U.S. Legal Forms™ Essential Legal Life Documents Package, it is highly recommended that you keep forms together. An optional USLegal Life Documents Organizer – small or large size is available for purchase from www.uslegalforms.com to help store you legal documents. Legal documents should also be kept in a very secure place such as a bank safe deposit box or personal home safe. You may wish to tell your attorney or a family member about the location of your Legal Life Documents Package in the event you are unable to communicate it to them when needed. IV. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. V. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.