Everyone needs a power of attorney. This is a document that allows someone else to make decisions about your finances while you are still alive. This can be crucial because there may be a time when you are unable to make decisions for yourself. It is also extremely important that you choose someone that you trust because this document authorizes them to take money from your bank account and sell your house.

You can have this document give the power immediately or have it conditioned on some future event such as your incapacity. It can be advantageous to have it effective immediately because then the person can act when they need to, instead of spending precious time trying to prove that you are unable to make these decisions yourself. 

When you are picking someone to have this power over your finances, do your best to pick someone who is trustworthy and who manages their own finances well.

Everyone needs an advance medical directive. This document decides who will make your medical decisions when you can't make them for yourself and states your preferences for end-of-life care. While it is uncomfortable to think about, this can save your family from conflict. If you were unable to make your medical decisions and your family doesn't agree on what you would want, it is greatly helpful if you have already written down what you would want and given the final decision-making power to someone. Even if you don't have strong feelings about end-of-life care, it's helpful to write that down.