I like a plan. I'd feel better if you have one , too. Especially when life circumstances are tumultuous as in the case of illness and death.

Testamentary will - this is the will that you are familiar with in that it is the will that becomes effective upon death. In this you state how you want property divided. Property that already has a listed beneficiary, such as an insurance policy, an IRA or an annuity. Those instruments will pass automatically. So please make sure that your beneficiaries are updated and accurate and that you don't have your ex-husband listed on your IRA.

Living will - This document provides instructions for your wishes when you still alive. There may be a time when you cannot speak for yourself because of a medical emergency. A living will gives some instruction for what you'd like and the care and types of care for which you would give consent should you be able to speak for yourself.


In the State of Maine, Advanced Directions are provided at no cost from Maine.gov site. In this document a Power of Attorney for Health Care allows you to appoint someone who will advocate for you and your written wishes. (see this link for more information )

A Living Will is NOT a Living Trust. A Living Trust is an instrument to manage your assets.

Ethical will - These other documents that we've discussed cover essential topics. But they don't tell your kids or other family what you hope for them as they live their lives. Ethical wills share your 'personal mission statement.' It shares your values and perhaps your hopes of the future decisions your family may make. It's the story of who you are. It is to pass on your love. Maybe it is saying the things from your heart that wasn't easy to communicate while you were alive. You know families.

Learn more about an ethical will at


Marion Syversen, MBA
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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