Two documents that decide who can act for you
A power of attorney is a simple legal document. You name someone you trust, and it gives them the authority to act for you if you can't. Most people need two.
Financial power of attorney
Names who can pay your bills, deal with your bank and manage your accounts and property if you are unable to.
Healthcare power of attorney
Names who speaks for you on medical decisions when you can't. Ours includes a living will, medical directives and a HIPAA release.
Why you want them before you need them
An accident, a stroke or a diagnosis that affects your thinking can happen to anyone, and it can happen suddenly. If it does and nothing is in place, your family does not automatically get the authority to act for you.
Without them, banks and hospitals may require a court process to appoint someone to act for you. That takes time and money, and the person the court appoints may not be the one you would have chosen.
With them, the person you picked can step in right away, and your family is not left guessing what you would have wanted.
Even married couples often find that a bank or hospital won't deal with a spouse who isn't named in the right document. Most people only discover the gap when they are already in the middle of a crisis.
Already have a will or a trust?
You may still be missing these. A will and a trust take effect when you pass away. Powers of attorney are the documents that matter while you are alive and cannot act for yourself. They are separate, and they are the ones people are most likely to leave out.
Not sure which of a will or a trust fits? See how they compare.
What happens at your review
- Tell us where to reach you and pick a time. It takes about a minute.
- We look at where your estate plan stands. Your documents, your beneficiary forms, and how your accounts are titled. That is where plans most often break.
- You attend, and both powers of attorney are yours, free. No purchase required.
Need a full trust or will?
Your review is where we help you work out whether a trust, a will or neither fits. If you already know you want one, our prices are shown up front, with no surprises.
Questions people ask
Do I have to buy anything?
No. The powers of attorney are free for attending your review. Nothing is required of you afterward.
Why are they free?
Most people have never had a real conversation about their estate plan, and this is a good place to start it. If you later want a full attorney-led plan, we will show you the options and the prices up front, and there is never any pressure.
How long is the review?
About 45 minutes, by video call, at a time you choose.
Are these documents reviewed by an attorney?
The Income Standard is not a law firm and does not give legal advice. Every document is reviewed and approved by a licensed attorney before it is issued to you.
Who will I be speaking with?
Tod Long, founder of The Income Standard, who has spent 24 years in insurance and financial services.
Will vs. Trust
How a trust compares to a will
Most people assume a will is enough. Here is what each one does, and what it doesn’t.
| Feature | Will | Trust |
|---|---|---|
| Takes effect | At death only | Immediately, and at death |
| Goes through probate | ✗ Yes, a public court process | ✓ Generally no |
| Privacy | ✗ Becomes public record | ✓ Stays private |
| If you become incapacitated | ✗ Not covered | ✓ Your successor trustee steps in |
| Time to pass on assets | Often many months or longer, because of probate | Typically much faster, with no court process |
| Names a guardian for children | ✓ Yes | ✗ Not in the trust itself; a pour-over will does it |
| What it takes to work | Properly signed | Properly signed, and your assets must be retitled into it |
| Upfront cost | Lower | Higher upfront; often saves time and cost later |
General information, not legal advice. Rules vary by state. Whichever you choose, powers of attorney are the documents that cover you while you are alive, which is why we start there.
Start with the two documents everyone needs
Attend your short estate review and your financial and healthcare powers of attorney are free. No purchase required.
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The Income Standard is not a law firm and does not give legal advice. Every document is reviewed and approved by a licensed attorney before it is issued to you. Questions? estate@theincomestandard.com · (888) 553-6428