Assuming or hoping that situations will automatically work out, people we do business with will follow through on their end, and loved ones will agree about the distribution of assets is ideal. However, if you’ve ever been disappointed because your verbal agreement was breached in some way, you should take those experiences as lessons to secure your agreements in writing.
Establishing agreements in writing will safeguard your assets and hold individuals accountable for their promises. You can provide proof that an agreement was established on a specific date. This information is vital in being able to recall to your attention and the other party’s attention about the length of time given for the agreement terms to be executed.
Types of Agreement That Should Be in Writing
If you’re not prepared to die, now is the time to make plans on how your assets will be allocated. Otherwise, your assets may be tied up in probate court and subject to distribution restriction. The earlier you establish terms in writing, the more time you’ll have to make changes if necessary.
Here are a few documents that can safeguard you during your senior years, if you become terminally ill, or if another unexpected event occurs:
Wills and Estates
• Last Will and Testament
• Gift Deed
• Revocable Living Trust
• Living Will
• Living Will
• Health Care Directive
• Medical Power of Attorney
• Child Medical Consent
• Medical Records Release
Power of Attorney
• Power of Attorney
• Revocation of Power of Attorney
• Medical Power of Attorney
The art of forming and maintaining business relationships can be wonderful. However, when it comes to contracts, make sure you’re signing documents that are professionally drafted. Examples of these forms include affordable articles of incorporation or do-it-yourself Affidavits.
You should also conduct due diligence to ensure that what you’re agreeing to is legitimate in addition to verifying that an individual or a business is reputable. Listed below are a few forms related to property, loan, business, and family legal matters that can help guide you through a variety of legal processes:
• Rental/Lease Agreement and Commercial Lease Agreement
• Sublease Agreement
• Rental Application
• Eviction Notices
• Quitclaim Deed
• Demand Letter
• Loan Agreement
• Promissory Note
• Purchase Agreement
• Shareholder Loan Agreement
• Confidentiality Agreement
• Corporate Bylaws
• Employment Contract
• LLC Formation
• Non-Disclosure Agreement
• Partnership Agreement
• Child Travel Consent
• Prenuptial Agreement
• Separation Agreement
If you can’t afford to retain legal services, you can be proactive by obtaining FREE legal documents from Law Depot. This company provides more than 100 legal documents that can be customized. The documents have been drafted by a team of lawyers. To view additional forms and to obtain specific details about the aforementioned documents, you can search for trusted do-it-yourself legal forms.
Research Your State Laws
Before you begin to customize a legal document, it is a good idea to research your state’s laws regarding the agreement you want to form with another person or company. By doing so, you can ensure that you will be compliant particularly if you’re not aware of time frames that are allotted for business transactions.
Read each document thoroughly before you sign an agreement because you don’t want to agree to something you don’t fully understand.
Although the forms are designed by lawyers, it’s always good to educate yourself in specific legal areas before conducting business or signing a document. The more you know, the more likely you won’t settle for something that you’ll regret later.
You can also have a local attorney or lawyer review your documents before you sign it to verify that the terms are conducive with your situation.
Act Now to Reduce Stress
All too often many people rely on other family members to handle business matters. If you’re the person that everyone in the family tends to look to you for advice or you always end up solving most of the family’s problems, then you know what I’m talking about.
On the other hand, if you’re the one who typically relies on the proactive person in the family, you should consider how he or she may feel if you pass away or become critically ill to the point where you require long term care.
A person who appears to be able to handle everything with little effort may have only mastered the art of camouflaging their stress levels because no one else in the family will take initiative to resolve issues.
When you become proactive in preparing legal documents to ensure that the allocation of funds, property, living arrangements, healthcare management, and other directives are executed as you desire, it will relieve the amount of stress that your loved ones may experience.
This preparation will be like providing a personal assistant that the proactive loved one will need especially if other family members refuse to handle your estate business, or if your loved one is the sole survivor of your family.
If you want to leave a good legacy behind in addition to the positive impressions you’ve had on your family, save money on legal forms.
Designate a Power of Attorney
If you’re currently in a situation where one or both of your parents are elderly, and they have not created a will or approved a healthcare directive, you can inform your parents about how legal documents can be customized to carry out their wishes. This will provide the level of care they need when a decision must be made if they cannot speak for themselves.
The other documents mentioned above are also vital to the growth of your business, family relationships, and financial security. If you have a physical setback and cannot speak, you need someone to represent you while you’re in the hospital, nursing home, or receiving home care.
You need someone you can trust to handle your personal business. So it’s important to start thinking about who you feel is reliable and ask the person if he or she would be willing to support you during challenging times in your life.