While it's not a pleasant topic, incapacitation can occur at any age, sometimes suddenly. Having the proper documentation in place to articulate your wishes gives you control over important financial, medical, and legal decisions concerning your affairs if the time comes that you are unable to make those decisions for yourself. It takes the burden off loved ones and allows you to designate a person who can represent you in these matters.
Financial Incapacity Planning
From a financial standpoint, a Financial Power of Attorney or a Revocable Living Trust are examples of tools to help protect your assets and to authorize a person you designate to make financial decisions on your behalf. The best avenue for you to take will depend on your situation and preferences. Meeting with an estate planning professional can help you determine what is right for you and your family.
Medical Incapacity Planning
Advance Health Care Directive (aka Living Will) - outlines the medical steps and treatments you want, or do not want, to be implemented for end-of-life care. These measures include mechanical ventilation, dialysis, tube feeding, organ or tissue donation, and more. Religious preferences may also be included.
Medical/Health Power of Attorney - gives a person of your choosing the authority to make medical decisions for you should you be unable to do so.
Meeting with your doctor, religious advisor and estate planning attorney can help you with completion of these important documents. If you need further assistance or have more questions concerning these documents, consider contacting an estate planning professional. We can help connect you.
This content is intended to be used as a source for general information and is not provided as legal advice.