Many people assume an estate plan is useful only on your death. However, there are 3 important elements of an estate plan that take effect when you are alive but unable to make decisions for yourself.
- Naming someone to handle your financial and personal matters.
- Naming someone to handle your healthcare decisions.
- Deciding what life-saving measures and artificial life support will be used to prolong your life.
Making these critical decisions and keeping your plan updated will allow your loved ones to make the decisions without the costly and time consuming court process. If you are in a situation where a loved one has not made those plans, it is not too late. As a loved one, you have a right to ask the court to be appointed conservator and/or guardian for your incapacitated loved one. It may suprise some people to learn that a spouse may need to apply to become a guardian or conservator for their incapacitated spouse. While this process can be simple and respectful, it can be a process that is painful when disputed between interest parties to a family. It likely comes as a shock to see who wants Grandmother to die and who wants her to live. Proper planning can act as a barrier to these ugly disputes. These three elements are properly addressed in powers of attorney (POA), healthcare powers of attorney, living will, and DNRs (do not resucitate orders). Because these documents are so powerful, it is appropriate to have an attorney ensure that they are drafted and executed correctly.
