Advance Directives: What You Need to Know

An individual’s estate plan should include legal documents that authorize a person of your choosing to make the necessary financial and health care decisions for you. This applies in the event you are unable to make your own decisions.

The Importance of a Durable Power of Attorney

Every adult individual should have a comprehensive Durable Power of Attorney. The Durable Power of Attorney can be executed in favor of one or more individuals of your choosing. For example, you may include family members such as your spouse or children.

This will enable the person that you have designated to make financial decisions on your behalf. This is possible if and when it is necessary.

Moreover, a comprehensive Durable Power of Attorney may also become a critical part of your plan to protect and preserve your assets. This document should contain expanded powers, such as the authority to make gifts and to sign tax returns.

It should also provide for successor agent(s). In addition, this planning tool is essential in avoiding a Guardianship proceeding. Such a proceeding can be time-consuming, costly and restrictive.

Essential Health Care Planning Documents

In addition, every adult individual should have health care decision making documents. Examples include a Health Care Proxy, Living Will and Medical Authorization.

Health Care Proxy

A Health Care Proxy will allow a family member or another individual of your choosing to make health care decisions on your behalf. For example, this person could be your spouse or child. This applies if you are unable to do so. Only one agent can be appointed to act at a time. Additionally, it can also state your wishes regarding organ donation.

Living Will

A Living Will specifies your desires as to life-sustaining treatment in the event there is no reasonable prospect of recovery. Furthermore, this document provides guidance to your agent named in your Health Care Proxy. It clarifies your desires regarding extraordinary life-sustaining treatment.

Medical Authorization

Lastly, a Medical Authorization allows for the disclosure or release of your health information to the individuals that you have selected to make health care decisions for you. Thus, this allows your health care agent(s) to access your health care information. This helps them make the most informed decisions about your care.

Protect Yourself and Your Loved Ones

It is critical that every adult who has the ability to sign these documents do so. If you would like to speak with an experienced elder law attorney regarding your situation or have questions about something you have read, please do not hesitate to contact our office at 1 (800) 680-1717. We look forward to the opportunity to work with you.

Disclaimer: The information provided above is for general informational purposes only and is not legal advice.