Some may remember Bruce Willis from his television comedy series Moonlighting, and many recognize him as John McClane in Die Hard. This 67-year-old icon is an actor that many of us know and love. This is why it’s tragic to hear that he has been diagnosed with a form of dementia – it feels like it’s hitting close to home. The World Health Organization says more than 55 million people live with dementia worldwide. And now might be the perfect time to start thinking about incapacity planning.
Incapacity planning happens when you take precautionary measures to prepare for temporary or permanent incapacity. It allows you to provide detailed instructions that are to be implemented if you become incapacitated by an illness or injury.
While it’s often more of a concern for seniors, incapacity can strike at any age. It can include injuries from a car accident, an illness such as a stroke or the effects of aging and dementia. This is why incapacity planning is important – it can happen to anyone at any time. Money and fame cannot protect you, but planning and making decisions now can help prepare you and your loved ones.
Some important documents involved with incapacity planning are:
These are only some documents that may be the right choice for you and incapacity planning. Working with an attorney specializing in estate planning and elder care will help you decide the right path.
Remember, the above-listed documents are just a start. But let’s look at these, so you know what questions to ask your estate planning and elder care attorney.
Durable Power of Attorney.
This allows a designated person to act on your behalf and make your financial decisions when you cannot. A durable power of attorney can be temporary and revoked when you are well, or lasts until you pass away.
Health Care Directive / Living Will.
A living will tells your loved ones and medical care workers what will be done if you are left incapacitated by illness or accident. It describes what life-saving measures you want (do you have a Do Not Resessicutate?) and the extent of end-of-life care you want.
A revocable trust can be changed or updated at any time. If you are temporarily incapacitated, it will allow someone to help manage your assets until you can take over again. Or if you pass away, your estate will avoid probate court, and your assets will be distributed as you wish.
You can see the importance of these documents in any estate plan, but especially for incapacity planning. Working with an attorney specializing in elder law and estate planning can help you develop a plan specifically for you and your life decisions.
Talk to the experienced attorneys at the Estate and Probate Legal Group. We can help you begin your incapacity planning by preparing and protecting you and your family – now and in the future. Contact us today at 630-864-5835.
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