Estate Planning

Wills, Trusts, and POAs: The Critical Documents Every Family Should Have

May 12, 2025
Family on trekking

When it comes to organizing life’s important documents, most people focus on birth certificates, insurance policies, and tax records—but what about the documents that protect your loved ones and your legacy?

Wills, trusts, and power of attorney (POA) documents are some of the most critical legal papers you can have, yet they’re often overlooked until it’s too late.

These documents aren’t just for the wealthy or elderly—they’re essential for anyone who wants to make sure their family is taken care of and their wishes are followed in case of the unexpected.

Let’s break down why these documents matter, what they do, and how myDox can help you keep them secure and accessible when they’re needed most.

1. Why Every Family Needs a Will

A will is one of the most important legal documents you can have. It ensures that your assets, property, and personal belongings go to the right people after you pass away.

Without a will:

  • The court decides how your estate is divided—not you
  • The process can be expensive, time-consuming, and stressful for your family
  • If you have minor children, the court—not you—decides who will take care of them

💡 How myDox Helps:

  • Store your will securely so it’s never lost or misplaced
  • Grant access to trusted family members or attorneys so they can retrieve it when needed
  • Update it easily without the hassle of reprinting or refiling paper copies

Example: If something happens to you, your loved ones won’t have to search for your will—it will be stored in myDox, ready to access and act upon.

2. The Role of a Trust (And Why It’s Different from a Will)

A trust is a legal arrangement that allows you to place assets (like your home, bank accounts, or investments) into a protected structure, managed according to your wishes.

While a will takes effect after you pass away, a trust can help manage your assets while you’re still alive and avoid the expensive, lengthy probate process.

Why set up a trust?

  • Avoid probate – Your assets pass directly to your heirs without court involvement
  • Provide for minor children – Set conditions on inheritance to protect their future
  • Plan for incapacity – A trust allows your chosen trustee to manage your assets if you’re unable to

💡 How myDox Helps:

  • Keep digital copies of your trust documents organized and secure
  • Easily share them with financial planners, attorneys, or family members
  • Store amendments so everyone is working with the latest version

Example: If you have young children, a trust can ensure that their inheritance is managed wisely until they reach a responsible age—without court involvement.

3. Power of Attorney (POA): The Document Everyone Needs but Few Have

A power of attorney (POA) allows someone you trust to handle your financial or legal affairs if you become incapacitated.

Without a POA in place:

  • Your loved ones may have to go to court just to access your accounts or pay your bills
  • The court may appoint someone to manage your affairs—and it may not be the person you would have chosen
  • If you own a business, operations could come to a halt if no one has authority to act on your behalf

There are two main types of POAs to consider:

  • Financial POA – Grants authority to manage your money, pay bills, file taxes, and handle legal matters
  • Medical POA (Healthcare Proxy) – Allows someone to make medical decisions for you if you can’t

💡 How myDox Helps:

  • Store your POA securely so it’s always accessible in an emergency
  • Grant access to key individuals (like your spouse, attorney, or adult children)
  • Update it easily if your circumstances change

Example: If you’re hospitalized and unable to manage your bills, your financial POA allows a trusted family member to handle them—preventing late payments and financial headaches.

4. What Happens If You Don’t Have These Documents?

Many people assume they don’t need a will, trust, or POA because they’re young, healthy, or don’t have a lot of assets. But the reality is, not having these documents can create unnecessary stress and complications for your family.

  • Without a will – The government decides who gets your assets, and it may not align with your wishes.
  • Without a trust – Your loved ones may face long, expensive legal battles to access your estate.
  • Without a POA – Your family may have to go to court to gain permission to manage your finances or make medical decisions.

💡 The solution? Get these documents in place and store them securely in myDox.

5. How myDox Helps You Keep These Critical Documents Safe & Accessible

Having a will, trust, and POA is only helpful if your loved ones can find them when needed.

With myDox, you can:

  • Store these documents securely so they’re never lost or misplaced
  • Share them with trusted family members, attorneys, or executors
  • Ensure quick access during emergencies or legal proceedings
  • Update documents easily as your life changes

Example: If you pass away unexpectedly, your executor can retrieve your will instantly—without searching through drawers or waiting for attorneys to locate a copy.

Final Thoughts: Protect Your Loved Ones by Getting These Documents in Order

Life is unpredictable, but you can take control by having the right legal documents in place.

  • A will ensures your assets go to the right people.
  • A trust helps avoid legal headaches and protects your estate.
  • A power of attorney allows a trusted person to act on your behalf if needed.

Don’t wait until it’s too late to get these documents in order. Start organizing today and give yourself (and your family) peace of mind.

Store and manage your wills, trusts, and POAs securely with myDox—because being prepared is the best gift you can give your loved ones.

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