Incapacity Planning
Incapacity planning is concerned with the orderly transfer of authority for medical and/or financial decision making in the event that the person suffers an incapacitating medical condition. It is an essential, yet relatively simple, part of any estate plan.
Incapacity planning involves the preparation of advance directives such as durable powers of attorney and living wills. A Durable Power of Attorney enables a person to appoint a trusted friend or relative to act for him or her regarding financial and/or medical issues if he or she cannot do so due to his or her medical condition. In the absence of a valid durable power of attorney, it may become necessary for a judge to appoint someone to make those decisions.
A Living Will provides the maker's instructions regarding the type of care that should be provided if he or she develops an incurable condition or falls into a persistent vegetative state. Incapacity planning is particularly important for those who are single or divorced, or who are living in non-traditional relationships or blended families, because the applicable law, including recent changes affecting financial and medical privacy, may not provide necessary access to the people who are closest to them.
To learn more about incapacity planning, click here or contact us for a free consultation.
