In addition to establishing documents that will help you pass on your assets to your loved ones in the future, you should also think carefully about whether or not you have planned for you own potential disability or incapacity.
It is never easy for people to contemplate their own future, particularly, if it means they are not able to make decisions on their own or may struggle due to a sudden diagnosis of an incapacitating event. That being said, it is also extremely important to consider the possibility of incapacity or disability.
There may be the chance that you or someone you know has already been negatively affected by the disability or incapacity and failure to take action could have significantly impacted their loved ones. This is an excellent opportunity for you to avoid the same situation yourself.
Having your business and health care affairs in order is the first step of the process, but you must equally have a valid will. Health care proxies and durable powers of attorney are the main ways to appoint agents to make critical business and health care decisions, whether permanent or temporary.
State or local law will otherwise empower someone else to make health care decisions on your behalf and this may not be the decision that you wanted or the person you intended to serve in this role. To avoid these problems, schedule a consultation with an experienced estate planning attorney today.
