Estate Planning Keeps You in Control Even if You Are Incapacitated

naperville estate planning lawyerThe possibility of incapacitation caused by illness or injury exists for everyone. Although it is uncomfortable to consider, it is important to prepare for this possibility so that you can maintain control of your assets and responsibilities should you ever become incapacitated. Estate planning can help ensure that you remain in control despite any medical conditions.

There are several legal tools available through estate planning that will give you peace of mind knowing that if anything happens to you, your wishes will still be carried out.

Power of Attorney and HIPPA Release

The term “power of attorney” is used to refer to the estate planning document as well as the person who acts as the power of attorney agent. When someone has a health care power of attorney document in place, they designate an individual to make medical decisions on their behalf if they become incapacitated. A power of attorney for healthcare has the authority to make decisions about things like end-of-life care, tube feeding, mechanical ventilation, medications, and more.

When you draft a power of attorney, make sure the document gives your agent proper access to your medical records. This includes signing a HIPAA release form, which is essentially permission for the healthcare provider to share medical information with your designated agent.

A financial power of attorney gives another person authority to handle your finances on your behalf if you are unable to do so because of incapacitation. The same person may serve as your agent for both a healthcare and financial power of attorney, or you can assign two different people to fill these roles.

Living Will and Organ Donation Authorization

A living will is a document that allows you to specify in writing what type of medical care and treatment you do or do not want if you become incapacitated. It covers a wide range of topics, such as life-sustaining treatments, palliative care, and more. If you choose to draft a living will, be sure to include your wishes regarding organ donation.

Revocable Living Trust

A revocable living trust is an estate planning document that allows you to transfer your assets into the trust and appoint a trustee who will manage the trust assets if you become incapacitated. This is particularly beneficial for larger and more complex estates, as the trust takes precedence over any other legal documents and allows you to maintain control of your assets in the event that you become incapacitated.

Call us for Help

The Naperville estate planning lawyers at the Gierach Law Firm can help you create the necessary legal documents to maintain control of your estate in the event of incapacitation. We understand how overwhelming and intimidating the process may seem, and our experienced legal team is here to help you create a comprehensive estate plan that meets your needs. Call 630-228-9413 for a consultation.

Source:

https://www.medicareinteractive.org/get-answers/planning-for-medicare-and-securing-quality-care/preparing-for-future-health-care-needs/overview-of-living-wills-health-care-proxies-advance-directives-and-powers-of-attorney

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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.

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