What document details the type of medical care that you wish to receive if you become incapacitated due to a physical or mental illness?

What document details the type of medical care that you wish to receive if you become incapacitated due to a physical or mental illness?

Durable power of attorney for health care. A durable power of attorney for health care is a legal document naming a health care proxy, someone to make medical decisions for you at times when you are unable to do so.

What is true about computer files of financial records quizlet?

What is true about computer files of financial records? They should be backed up regularly. Only individuals that make over $50,000 per year should worry about creating a cash flow statement. Liquid assets are those that cannot be easily converted to cash.

What document details the type of medical care that you wish to receive if you become incapacitated due to a physical or mental illness or accident formal will holographic will Statutory Will Living Will?

A living will is a legal document you complete to express your wishes regarding medical care if you are incapacitated or cannot consent to treatment.

When tracking your financial records what records should you consider keeping?

Whichever method you choose, there are three statements that should be kept: a net-worth statement (also referred to as a balance sheet), an income statement and a cash-flow statement.

What are the two main types of personal financial statements?

The two types of personal financial statements are the personal cash flow statement and the personal balance sheet.

Can a doctor declare a patient incompetent?

In other words, it’s up to courts, not doctors, to say whether someone is incompetent. This is governed by state law so different states have different criteria. But overall, if someone is found in court to be incompetent, they often will be assigned a guardian or conservator to manage decisions on their behalf.

Is a healthcare proxy a legal document?

Once the healthcare proxy is effective, the agent continues making healthcare decisions as long as the primary individual is legally competent to decide. Moreover, in legal-administrative functions, the healthcare proxy is a legal instrument akin to a “springing” healthcare power of attorney.

What is a record of income and expenditures for a given period of time?

A record of spending or of probable expenditures and income for a given period of time is called. A budget.

What type of will is a handwritten will?

A holographic will is a handwritten and testator-signed document and is an alternative to a will produced by a lawyer. Some states do not recognize holographic wills. States that do permit holographic wills require the document meet specific requirements to be valid.

What is maintaining financial records?

Keeping and maintaining accurate accounting records means that you are able to meet all of your tax obligations and regular filing requirements without having to worry about paying a penalty or interest for a missed or late payment.