What You Need to Know About Incapacity Planning
No one knows what the future holds. And while many people see the need for estate planning, very few consider the need for incapacity planning. Estate planning and incapacity planning are fundamentally different. In estate planning, you outline what you would like to happen to your assets after passing. On the other hand, incapacity planning lays out your wishes in case you become unable to care for yourself or can no longer make your own decisions due to injury or illness.
Many people think that they will never need to plan for incapacity or that they can draft the necessary documents as required. What they don’t account for is that you cannot draft or sign documents after you become incapacitated. This is why it is essential to plan and make sure that all of your wishes are laid out so you and your assets are treated according to your wishes.
With the help of an experienced attorney, like those at Easy Estate Probate, you can lay out a clear path for your finances and health care that will help make things much easier for you and your family in case you need it.
Incapacity Planning Documents
Some documents that an experienced attorney can help you draft to set up an incapacity plan are:
- Living Will – This is a set of documents that specifically outline which medical procedures you want to be withheld or withdrawn towards the end of your life.
- Durable Power of Attorney -A durable power of attorney is a legal document that lets someone conduct all financial transactions for you even if you become incapacitated. This includes banking transactions, signing checks, selling your property, and filing taxes, along with other scenarios. If a power of attorney is not durable, it will not allow the designated person to make transactions for you if you become incapacitated.
- Designation of Healthcare Surrogate – A designation of healthcare surrogate is a document that gives a person you choose the ability to make decisions for you when it comes to your healthcare. They can make these decisions anytime, even if you are not incapacitated. This can be a crucial document to have with today’s HIPAA privacy laws. Without incapacity planning and documents, the court will need to become involved, and this can affect your care or your family’s ability to care for you should you become incapacitated.
Getting the help of an experienced attorney at Easy Estate Probate can help set you and your family up to manage your care if, for any reason, you become incapacitated. Click here for a
FREE consultation.