Creating a basic estate plan to establish a legacy and protect family members can be a smart choice. Many people also need to consider establishing documents that take effect while they are still alive.
Paperwork addressing the very real possibility of incapacity due to illness, injury or advanced age can help people protect their resources and their well-being in circumstances where they cannot advocate for themselves.
How can people put together plans to protect themselves from the possibility of future incapacity?
People can draft appropriate documents
There are several types of estate planning documents that can help those concerned about future incapacity in Arizona. The state allows people to draft powers of attorney granting others financial and medical Authority in emergency circumstances.
However, in scenarios where incapacity becomes permanent, basic powers of attorney may not be sufficient. People may want to establish durable powers of attorney which can maintain their legal authority even when someone becomes permanently incapacitated.
Additionally, people often decide to establish living wills that discuss their preferences regarding medical care ranging from pain management and life support to anatomical gifts if they die. Those documents give people both the authority they need to act in an emergency and the information necessary to make the right choices on behalf of the incapacitated person.
Just like wills and other testamentary instruments, living documents that aim to protect people from incapacity require occasional review to accurately represent someone’s wishes and empower the right people. Those who take the time to draft additional estate planning documents beyond just a will or trust can protect themselves in difficult situations and take the pressure off of their loved ones when they cannot speak on their own behalf anymore.
Incapacity planning and long-term care planning can be as important as planning for what happens after someone dies. Adding living documents to an estate plan can be beneficial for everyone in a family and can give adults peace of mind regarding their care as they age or if they experience some kind of significant personal emergency.