A Guide to Essential Everyday Legal Documents
There are many personal and business-related legal documents you might need on short notice. You might need legal templates to quickly put these together without breaking the bank. In this post, we’ll highlight six types of legal documents you should always have handy.
Why You Should Use Online Legal Templates
Drafting legal documents is often a time-consuming process. You’ll also likely be working with a lawyer who charges by the hour. However, there are sites that offer pre-made legal forms ready for you and others to sign.
You could even customise your document to fit your specific situation. For example, businesses might edit their forms to ensure their contracts match their business structure.
You can build a complete legal document in just a few minutes. Many sites offer these for free or at a low cost. Regardless, it’s much cheaper than hiring even an affordable lawyer.
Six Essential Legal Documents
There is no shortage of documents you should have ready at a moment’s notice. Some will only be necessary in certain situations. Others, however, are essential in case of emergencies. Here are six invaluable legal forms and documents:
1. Last Will and Testament
If you don’t already have a will prepared, there’s no time like the present. Without a full will, your assets might spend a long time in probate. A will helps you guarantee that your belongings go to the right people.
Make sure your will covers your whole estate. Leave no stone unturned – and note what should happen to any undescribed assets.
With a will, your wishes are immediately clear. Your family members will be less likely to fight over everything. You should also think carefully about who to appoint as your executor.
2. Contractor Agreement
If you’re a freelance worker or business, you’ll depend on independent contractor forms. These documents set out work and pay arrangements between you and another party. If you need new workers on short notice, online templates might be the only way forward.
You may customise your template to suit your specific industry. Construction, healthcare, STEM, and admin workers (among others) all use these forms. The document must include:
● Each party’s name and contact details
● Details on the services being contracted
● Payment terms, including schedule and methods
● The contract’s start and end dates
● Terms and conditions of termination
3. Advance Decision
An advance decision is a document that outlines which medical treatments you would rather not receive. For example, you may use an advance decision to refuse CPR in advance. Even when successful, CPR can sometimes lead to brain damage or serious organ damage.
Many people forego certain treatments because of their personal beliefs. For example, certain religious groups refuse blood transfusions and tissue transplants.
These documents let you take charge of your healthcare. If you’re incapacitated, you’ll have no chance to refuse lifesaving treatments. An advance decision puts the power back in your hands.
4. Loan Agreement
If you’re borrowing or lending money, a contract helps formalise the arrangement. It protects the lender from non-repayment and outlines the loan’s conditions for the borrower. This document ensures both parties know what they’re getting into, limiting the chance of disputes.
You can use a loan agreement even when lending money to (or borrowing from) friends. In fact, clarifying repayment terms here could preserve your friendship long-term.
The agreement must stipulate the loan’s interest rate, if applicable. It also outlines any collateral the borrower has provided. Make sure your repayment terms fit the other party’s situation.
5. Power of Attorney
A power of attorney gives someone (an “agent”) power over your medical or financial choices. If you get a lasting POA, this will continue even when you’re incapacitated.
This is a lot of power to sign away to someone. With this in mind, here are a few tips for picking your POA agent:
● Make sure it’s someone you trust to act in your best interests.
● Sit down with them and outline your medical or financial wishes.
● Check that they’re comfortable with making life-altering decisions.
● Establish a backup in case your first choice cannot do the job.
6. Rental Application
Tenants and landlords alike need a strong rental application. These documents ensure a simple, legally sound screening process. They usually require the tenant to provide the following:
● Rental history
● Employment history
● Proof of income
● Credit score
● References
Even if you’re the renter, you might put together the application yourself. You can also compare the landlord’s application with an online template. You might notice something amiss or that the contract they’re using isn’t legally binding. It may even show that they’re asking for too much.
Final Thoughts
Whatever legal document you need, you can easily find great online templates. These will fit the UK’s laws surrounding that particular topic. After a few minutes of customisation, you’ll have the form ready for everyone to sign.
