When you hear the phrase ‘estate planning’ most people think about planning for end of life. But, an equally important part of estate planning is planning for life and the possibility of disability. No one ever expects that an accident will happen, but unfortunately, they do. And those accidents don’t care about your age, marital status, or current life situation. It’s important that you have provisions in place in case you are disabled or unable to make decisions for yourself. The last thing you want to do is leave the courts in charge of making decisions for you.
Questions to Ask Yourself When Planning for Disability or Incompetence in Arvada
-Who will make sure your bills are paid and your finances are in order?
-Who will be responsible for making medical decisions for you if you cannot make them yourself?
-Who will you talk to about your disability planning? Who will be informed about your wishes?
-What will happen if you become disabled?
Questions like these are heavy and require a lot of thought and careful consideration. An expert estate planning attorney can help you work through all these issues to make sure you are fully covered if the unexpected happens.
Important Estate Planning Documents Related to Disability Planning in Jefferson County
Financial Power of Attorney: This document assigns a trusted person to handle your finances if you are unable to. It will give them the authority to access your bank account, pay your bills and financially care for your estate.
Medical Power of Attorney: This document allows you to choose a person to make decisions regarding your health care on your behalf.
Living Will / Advanced Health Care Directive: A living will aka advanced health care directive is a document that outlines your wishes regarding life prolonging medical procedures. If you are unable to make these decisions, your living will can be referenced to provide you with the care you desire.