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Pre-Death Planning
A significant part of the personal side of estate planning is
pre-death planning. That includes having a Power of Attorney, which gives someone you trust thoroughly the right to manage and handle your assets, especially in case you became incompetent. This also includes giving someone the right to make health care decisions for you, when you can not, through a Health Care Power, and if you desire, a Living Will to notify your family and doctors of your wishes should you become terminally ill.
A Power of Attorney is considered by many to be almost as
important as a will. It allows a person to assist you in handling your matters now, or more importantly, if you became
incompetent. A well-drawn power of attorney can usually take away any need for a guardianship, which is expensive to create, has continuing legal costs, and is often felt to be demeaning to the person who cannot handle their own affairs.
A Health Care Power names individuals you authorize to make health care decisions for you when you are not able to make those health care decisions for yourself. You do not give up any right to make health care decisions. This is generally needed in a time of emergency, or when an individual becomes incompetent.
With increasing emphasis on privacy, physicians and hospitals are becoming more careful about allowing individuals without a Health Care Power to make health care decisions for family
members who cannot make them for themselves. A well-drawn Health Care Power attempts to ensure that someone is always available with the power to make health care decisions for you, when you are unable to make them for yourself. We like to name several individuals, so that if one is unable or unavailable, someone else will be.
Previous: Estate Planning-Financial and Personal for the Family
Next: Pre-Death Planning (continued) and Avoiding Probate
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