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What Is Incapacity Planning?

Posted by Zach Dana on January 27, 2017

Lawyer for power of attorney image

Lawyer for power of attorney image

Incapacity is something that we all don’t want to happen, but must prepare for—for the sake of our property, our family and ourselves. When someone is incapacitated, it means that he or she can no longer make sound decisions for him or herself. This can be permanent or temporary, and can result from various causes like heart attack, stroke, dementia or even accidents. If you’re incapacitated and you have not planned ahead—whether by engaging a lawyer for power of attorney or establishing a revocable living trust—your property and the important decisions of your life will be put at stake.

Be in Control With Incapacity Planning Via Power of Attorney

If you have proper planning, you get to decide even when you’re incapacitated. A will doesn’t help in an incapacity situation, because it only works after a person dies. While joint ownership sometimes helps, it is not the ultimate solution to the problem, and it does not mean that you get to decide either. You should consider getting a reliable lawyer for power of attorney.

What happens if you have not properly planned and prepared? The probate court will have the final say, by appointing someone whom they think is fit to handle your assets and properties.  Don’t wait for the probate court to decide. There are so many concerns to consider, such as: you want your wife or husband to handle your assets but the court disagrees and instead appoints a relative to manage your assets for you. Would you like that to happen? Your assets in the hands of the court and the decisions hanging at the tips of someone else’s fingers? To prevent this from happening, get a property incapacity plan as soon as possible.

Revocable Living Trust

This is a great and efficient way to plan and prepare for incapacity. So how does a revocable living trust work? With this trust, you transfer your assets to the “trust,” which means that the assets will be not be under your name, but the name of your trust. You can then control this by making yourself as the trustee. The reason for this is to prevent the court from taking control because they cannot interfere since the assets are no longer under your name. This will help steer your loved ones away from the court if you become incapacitated. You can name anybody you want, like your partner, as the trustee in case you become incapacitated. You can easily resume control if you become capable again. This is why, in addition to hiring a lawyer for power of attorney, you should consider a revocable living trust too.

Manage Health Care Decisions

It’s not only the assets that you need to worry about if you become incapacitated. Making health care decisions is just as important. If you want total control with who will manage such crucial decisions according to your wishes, three documents are needed: Durable Power of Attorney for Health, Living Will and HIPAA Authorization. All these documents must be present to ensure that the decisions will fall under the right hands, as planned.

  • Durable Power of Attorney for Health

The purpose of this document is simple. You just appoint someone and give him or her authority to make the health care decisions in your behalf when you become incapacitated. A lawyer for power of attorney can help you with this.

  • Living Will

A living will is needed when there is a choice between removing you from life support and other medical measures or allowing you to pass away. You get to decide such a crucial thing ahead of time, even if you no longer have the capacity to do so when the time comes.

  • HIPAA Authorization

This is what the doctors will require whether to disclose the full medical situation to your loved ones. You just need to list down all the names of the individuals you want to be informed. It’s important that written instructions in documents are present so that your family will be well-informed about your condition.

Protect Your Wishes With an Estate Planning Attorney

This is most important to people who are unmarried. Make sure that you get an estate planning attorney who is trustworthy and experienced. Everything needs to go as planned. You cannot afford to have your assets and medical decision-making fall under the wrong hands. Be in control and take the necessary steps to be prepared for incapacity.

Having the right lawyer is crucial to the success of your plan. See to it that your wishes are met. If you need an estate planning lawyer or a lawyer for power of attorney, don’t hesitate to contact Dana Law.