By Michael Wells Jr.?
Auto Insurance Coverage:? Purchase as much liability coverage as you can.? Also, purchase as much underinsured coverage as you can because there is a greater risk that someone with inadequate coverage will hit you.
Home Owner?s Policy:? Purchase as much liability coverage as possible.? Also, purchase an umbrella policy because you can get a lot of coverage ($1 million to $2 million) for a modest amount of money.
Wills: If you die without a will, the State of North Carolina writes you one.? It is cheaper and easier to administer an estate where there is a will.
Durable Powers of Attorney:? If you are incapacitated, it allows you to name someone to pay bills and handle business or property transactions for you.? Your spouse may not be able to make certain financial decisions for you without this document.
Living Wills and Health Care Powers of Attorney:? A living will is a legal document in which you direct whether life prolonging medical procedures will be taken in certain circumstances.? A health care power of attorney is a legal document in which you appoint another person or persons who can consent to or refuse medical or mental health treatment if a physician or eligible psychologist determines you are unable to make or communicate these decisions for yourself.
Warranties about a purchase you are about to make:? The promise needs to be in writing to be worth anything.? Use your best judgment as to whether the warranty is worth the price.
How to avoid many common disputes with service people with whom you deal (home repair, construction, auto repair and others):? Have a clear understanding about the scope of the work and the price. Make sure you have a written contract.?
What to do if you are in a wreck:? Call the police.? Take pictures; get the other person?s information; be careful about what you say.
Contracts to buy real estate/ refinancing your mortgage: Get it in writing.? Make sure your closing costs do not exceed your savings; generally 1 percent less or more is worth refinancing.
Co-signing on a debt:? Do not do it.? If the other person cannot pay, you are liable.?
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Michael Wells Jr.
Wells Jenkins Lucas Jenkins PLLC
michaelw@wellsjenkins.com
(336) 714-5773
Blog: southernlawyernc.blogspot.com
Website: www.wellsjenkins.com
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