If you or a loved one has received a cancer diagnosis, you already know how life altering it can be. It’s an emotional time of uncertainty and stress. While you may not be able to change the outcome of a diagnosis, you can grant yourself some peace of mind by getting your legal planning in order.
Cancer can progress at different rates over time. At some point in time you or a loved one may need someone to take charge of financial and medical decisions. An estate planning lawyer can help you get an effective plan in place without it being overwhelming. If you already have estate planning documents, now is the best time to review them.
Important documents every person with a cancer diagnosis should have are:
- Advance Directive for Healthcare– States the health care wishes of a person if they can no longer make decisions for themselves.
- HIPAA Authorization– Designates who your personal health information can be disclosed to.
- Durable Power of Attorney– Places someone in charge of financial decisions if a person with cancer no longer can make them.
- Living Trust– Appoints a trustee to handle property and finances for a patient with cancer. The trustee can use the assets in the trust to pay for health care.
- Will– Indicates how to distribute a person’s assets and estate upon their death.
Funding Medical Care
Cancer takes an emotional toll on families, but prolonged medical care can also drain finances. Cancer patients typically require specialized care (monitoring, nursing, etc.) which can deplete existing finances. Learning how to maximize the value of assets now can vastly affect the affordability and quality of care later.
How an Estate Planning Attorney Can Help
Estate planning attorneys have experience helping clients create plans that provide for both medical and quality-of-life expenses. They can help navigate the ins and outs of the system as it relates the special needs of those with cancer. The sooner you plan, the more control you have over what happens down the road.
Give us a call and start your planning today: 912-352-3999