Incapacity Planning
Why Is Incapacity Planning Important?
Have you thought about end-of-life healthcare decisions and how they would be made should you be unable to communicate them yourself? Who would pay your bills and handle your financial affairs?
Sadly, up to half of seniors and elderly will be incapacitated and need some assistance with their activities of daily living before they pass away, and even young people could end up in end-of-life situations as a result of accidents and unexpected life events.
If you do not have an adequate estate plan in place and become incapacitated, are unable to make your own medical decisions, or cannot manage your financial affairs, it will be up to the court to determine who gets to make those decisions for you.
There is a public legal process where the court determines if you’re incapacitated and appoints a guardian to care for and act on your behalf—it’s called Living Probate or a Conservatorship. The process is expensive, time-consuming, public, and completely in the control of the court.
Without advanced planning and documentation, well-intended family members are left with the responsibility of deciding on the best course of action without any input from the incapacitated. Family fighting over the “right and wrong” decisions is common in these situations. And, even worse, it’s possible that the incapacitated patient could be put through life-sustaining treatments, pain, and suffering they would have rather avoided.
What Is Incapacity Planning?
Incapacity planning documents allow you to make decisions now about your health care, finances, and property, so your wishes are known if you become unable to make those decisions for yourself (or cannot communicate them) in the future.
There are several different types of incapacity planning documents, including:
An Advance Health Care Directive
An Advance Health Care Directive, which allows you to state your wishes about your medical care so those around you know them if you become unable to communicate or make decisions for yourself. It includes the equivalent of a living will and a power of attorney for healthcare.
A Living Will
A Living Will that states your wishes about life-sustaining treatment if you are terminally ill or in a persistent vegetative state. Life-sustaining treatment includes interventions such as artificial nutrition and hydration, CPR, and dialysis.
A Power of Attorney for Healthcare
A Power of Attorney for Healthcare that allows you to appoint someone to make medical decisions for you if you are unable to make them for yourself. If you do not have this document in place, you may have to go through a lengthy and expensive court process to have a guardianship approved.
A Durable Power of Attorney (financial)
A Durable Power of Attorney (financial), which is a document that allows you to appoint someone to manage your financial and legal affairs if you become unable to do so yourself. Like with a power of attorney for healthcare, failing to have this document in place could lead to a long court process to have someone appointed to take care of your finances.
A Living Trust
A Living Trust, allows you to name a Successor Trustee who will manage your assets on your behalf upon your incapacity or death. This person can be a trusted friend or family member who you know will act in your best interests. It is important to work with an estate planning attorney to ensure that you understand your options and choose the documents that are right for you. Our team at Legacy APC will ensure your wishes are respected and that someone you trust can make decisions for you when you’re at your most vulnerable.
How Can a San Diego, CA Incapacity Planning Attorney Help?
At Legacy APC, our team of experienced estate planning professionals can help you make informed decisions about your future. We can help determine if you need a power of attorney, living trust, or other estate planning documents. We can also assist you in creating these documents and ensuring they are properly executed. With our help, you can be confident that your wishes will be respected in the event of incapacity or death. Schedule your free consultation or call our office (619) 696-0778 today to learn more.