Preparing a will is an important life-planning activity that helps you secure your family's financial future and allows you to make important decisions about the distribution of your assets upon your death.
Employees and retirees who are covered by company-paid group term life insurance are eligible for the Will Preparation Service.
Will Preparation covers the participating plan attorney’s fees for employees and their spouses for the following services:
- Telephone and in-person consultations to discuss the preparation or updating of the employee’s and/or spouse’s will, living will and power of attorney
- Preparation of codicils (additions or corrections to a will)
There is no limit on the number of times these documents can be prepared or updated by participating attorneys.
What are these documents?
- Wills generally name beneficiaries, alternative beneficiaries, an executor to manage the estate and guardians for minor children.
- A living will ensures the employee’s wishes are carried out for personal medical decisions.
- A power of attorney designates someone to act on the employee’s behalf in the event he or she becomes incapacitated.
Can I use my own attorney if he doesn’t participate?
This service gives you access to participating attorneys who will prepare or update your and your spouse's will, at no cost to you. You may also use a non-participating attorney and receive reimbursement for covered services according to a set fee schedule. If you use a non-participating attorney, you will be responsible for any fees that exceed the scheduled amount and you will need to file a claim for reimbursement of the covered amount.
For more information, contact Hyatt Legal Plans at 1-800-821-6400. Alcoa's group number is 12345.