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In your Last Will and Testament, you can leave messages and specify how you would like your assets distributed to your loved ones.
In your Living Will, you state your wishes for end-of-life medical care, in case you become unable to communicate your decisions.
In your Medical Power of Attorney, you name someone that you trust to act as your agent if you are unable to speak for yourself.
Yes, your account will remain active for life. You can edit your documents at anytime but you will need to notarize them to be legally binding.