Creating a plan for one’s inevitable demise can be a very challenging experience. From determining how to divide your assets to planning your funeral, each decision brings with it its own unique set of difficulties. While many individuals will eventually prepare for this chapter of life, too many people will neglect an essential component of estate planning, which addresses the possibility of being unable to make their own decisions. The helpful information below provides some assistance with this crucial task.
One of the most often overlooked areas in estate planning is that of incapacitation. And for very good reasons. Very few people like to think of their own deaths. And fewer still like to contemplate the thought that their twilight years may be ones that they have very little control over. To be best prepared for almost anything that can happen in your golden years, including incapacitation, you may want to consider including the following instruments when planning your estate.
Draft a living will, which is a document that lays out your wishes should you be alive but cannot make decisions for yourself. This will can cover a variety of areas, including health care, and address living arrangements and financial matters. Moreover, consulting with an attorney with experience in estate planning may make this daunting process easier.
Sign a release of HIPPAA. HIPPA is the federal guideline in which health care providers are not allowed to discuss the health of anyone generally considered an adult. However, if you ever become incapacitated, you will want to ensure all, or certain members, of your family have the information they need to fulfill your wishes.
Health care power of attorney
Create a health care power of attorney. This is a legal document that names someone you trust to make your medical decisions if you can’t.
As you can see, the potential for incapacitation creates many more ideas to consider during estate planning. You may want to take some time and consider all your options and then draft your legal documents.