Estate Planning for Incapacity

Estate planning isn’t just about planning for death. Most people think estate planning is simply putting a will or trust in place to make sure that your assets are properly distributed after you die. Many don’t realize that planning for incapacity is equally as important.

Incapacity

Planning for incapacity addresses what happens if you are unable to make medical decisions or handle your financial affairs because of an injury or medical condition. If an incident takes place and leaves you unable to speak, write, etc. it becomes difficult to let your loved ones and doctors know your wishes.

If you want to have a well rounded Estate Plan, you need more than just a will or a trust.

Advance Directive for Healthcare

An Advance Directive for Healthcare lets you appoint someone to make healthcare decisions for you if you are unable. It also allows you to make elections about:
  • life support
  • organ donation
  • body donation
  • final disposition of your body
  • end of life medical treatment
  • an appointed guardian should you need one
In order to control your medical treatment in such a situation, you must record your preferences in advance. By signing an Advance Directive, you can ensure that your wishes are met even if you are unable to communicate them.

Power of Attorney

If you become incapacitated, a power of attorney will designate who should help with your finances. A Power of Attorney gives you control over what your agent has permission to manage. This person can help you pay and bills, do taxes, and to manage your overall financial affairs (stocks, bank accounts, etc.).

HIPAA Authorization

When planning for incapacity, you should also give written authorization designating who your personal health information can be disclosed to. Without this form, doctors may not be able to legally communicate with your family.

Speak to an Attorney

It’s easy to overlook small details when planning for the possibility of incapacity. It’s best to consult with an estate planning attorney when creating these documents.

Give us a call today! 912-352-3999

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email