Planning for incapacity is an important part of the estate planning process that should not be overlooked. It can help estate planners and their family members and loved ones plan for situations when the estate planner may not be able to care for themselves. For that reason, estate planners should be familiar with estate planning tools to help them plan for incapacity.
Advance healthcare directive
An advance healthcare directive is an important estate planning tool to help estate planners prepare for incapacity. If an estate planner becomes incapacitated at some point and cannot make decisions about their own medical care or treatment, an advance healthcare directive can help guide their medical care and treatment according to their wishes.
An advance healthcare directive can include the estate planner’s wishes for medical care and treatment they wish to receive, as well as medical care and treatment they do not want to receive. It can address end-of-life medical care and decisions about important matters like resuscitation.
Power of attorney
A power of attorney can provide protection for the estate planner if they become incapacitated and are unable to direct their financial affairs for themselves. The power of attorney can designate a trusted individual to oversee the estate planner’s finances if they are incapacitated and cannot do so for themselves.
A power of attorney can also be used for medical purposes. They can designate a trusted individual to direct the estate planner’s medical affairs and can also address medical decisions not included in the advance healthcare directive.
Peace of mind
Estate planning can provide peace of mind for estate planners and their families in many different ways, including if the estate planner becomes incapacitated at any point. The importance of having a comprehensive estate plan that includes a plan for incapacity is crucial.