Far too many people procrastinate when it comes to estate planning, and one of the reasons is because they think that it boils down to the creation of a Last Will. This is something that you can do it in a few minutes at any time, right?
In reality, there is a lot more to it if you want to be comprehensively prepared for your well-being and that of your family. There are a number of different asset transfer vehicles that can be used other than a will, and this is one major consideration. When you learn the facts, you may come to the conclusion that a will is really not the best choice.
Another facet is the need to prepare for end-of-life issues that many people face. If you do nothing to prepare for your twilight years, challenging circumstances can be that much worse.
Life Support Preferences
We will readily acknowledge that these are not the most pleasant matters to contemplate, but death is one of the certainties of life. People don’t usually pass away after being in perfectly good health before the final event takes place, and we should all accept this reality.
Medical advances have changed the world in positive ways, but there are some complications that go along with the territory. One of them is the ability to keep many people alive through the utilization of artificial means when they would otherwise pass away.
When it is a temporary life-sustaining measure while treatment is being administered that has a good chance of leading to recovery, there are no questions to be answered. On the other hand, if you were are in a terminal condition, would you want to be kept alive?
This is a difficult question for someone to answer for another person, even if it is your closest family member or members. You can take the situation into your own hands proactively through the execution of a Living Will. With this document, you state your preferences regarding the use of resuscitation, respiration, and artificial nutrition and hydration.
You can also express your comfort care choices in your Living Will. This would apply to things like painkilling drugs and other techniques. If you would like to record your decisions about donating organs you can use your Living Will to do so.
Durable Power of Attorney for Health Care
Another advance directive that should be added is a Durable Power of Attorney for Health Care. You use this legal device to name someone to make medical decisions on your behalf in the event of your incapacity. These would be matters that are not specifically covered in the Living Will.
The Health Insurance Portability and Accountability Act (HIPAA) was enacted in 1996. It prevents the medical community from sharing patient information without the individual’s knowledge.
This is a necessary protection, but clearly, your health care agent would need this information to know how to proceed. To clear the way, you should include a HIPAA release form when you are developing your estate plan.
Attend a Free Seminar
Our attorneys are holding a series of seminars in the near future, and we consistently get very positive feedback from people that attend our sessions. We cover a lot of ground in a short period of time, and we deliver the material in an interesting manner.
There is no admission charge to contend with, so you can obtain this type of information without reaching into your pocket. You can visit our seminar page to see the upcoming dates. Once you identify the specific session that you would like to attend, click on the registration link and follow the instructions to reserve your seat.
Schedule a Consultation!
If you already know enough to recognize the fact that you should discuss your estate planning objectives with an attorney, we are here to help. You can send us a message through our contact page to request a consultation appointment, and we can be reached by phone at 513-721-1513.