Estate planning for the unexpected

No one likes to think about the possibility of becoming incapacitated, but it’s important to plan for the unexpected. In the event that you are unable to make decisions for yourself, whether due to illness, injury, or other reasons, it’s important to have a plan in place for how your healthcare and financial decisions will be managed. In this blog post, we’ll explore what happens if you become incapacitated and how you can ensure that your preferences are followed.

What happens if I become incapacitated?

If you become incapacitated, meaning you are unable to make decisions for yourself, there are several things that could happen depending on your situation. First, your healthcare decisions may need to be made by someone else. This could be a family member or friend, but if you haven’t designated someone to make decisions on your behalf, a court may need to appoint a guardian or conservator to manage your healthcare decisions.

Similarly, if you are unable to manage your finances, someone will need to step in to make sure your bills are paid, your assets are managed, and your financial affairs are in order. This could also be a family member or friend, but again, if you haven’t designated someone to act on your behalf, a court may need to appoint a conservator to manage your finances.

How can I ensure my healthcare and financial decisions are managed according to my preferences?

The best way to ensure that your healthcare and financial decisions are managed according to your preferences is to create legally binding documents that outline your wishes. Here are a few documents to consider:

Advance directive: An advance directive is a legal document that outlines your preferences for medical treatment in the event that you are unable to make decisions for yourself. It can include instructions on life support, pain management, and other medical treatments.



Durable power of attorney for healthcare: A durable power of attorney for healthcare designates someone to make healthcare decisions on your behalf if you are unable to do so. This person should be someone you trust to make decisions that align with your wishes.

Durable power of attorney for finances: A durable power of attorney for finances designates someone to manage your financial affairs if you are unable to do so. This person should be someone you trust to make decisions that align with your financial goals.

Living trust: A living trust is a legal document that allows you to transfer assets to a trustee who will manage them on your behalf. This can be especially useful if you become incapacitated because the trustee can step in and manage your assets without needing to go through the court system.

It’s important to work with an attorney who specializes in estate planning to create these documents. They can help ensure that your wishes are clearly stated and legally binding.

In conclusion, no one likes to think about the possibility of becoming incapacitated, but it’s important to plan for the unexpected. By creating legally binding documents that outline your wishes, you can ensure that your healthcare and financial decisions are managed according to your preferences. Work with an attorney who specializes in estate planning to create these documents and ensure that your wishes are clearly stated and legally binding.