Having A Plan For Your Health Will Give You a Peace of Mind
There are many things to consider while planning for your future. Having a plan for your health is important for many reasons. Taking control of your future can not only give you a peace of mind, but also your loved ones when they are going through a stressful time. Having a written plan that gives answers to any scenario that may happen can help everyone understand what your wishes are if you are unable to communicate. Having a living will and a Durable Power of Attorney for Healthcare can specify your expectations for treatments, life-sustaining procedures, and after-life wishes. It can also allow everyone to know what these wishes are in case you aren’t able to communicate the choices yourself. Taneff Law is committed to helping you understand your rights and help make the process of legacy planning easy. We can provide you with the care and attention you deserve when planning your future. We have been assisting with life plans since 1989 and have the knowledge in guiding you to think and consider of any circumstance that your future may hold. Below are a few things to consider when meeting with your estate planning counselor.
Establish A Power of Attorney
One of the most important things you can include in your legacy planning is designating an individual as your Power of Attorney (POA). This person should be someone that you trust since they will be responsible for making sure your healthcare preferences are honored. They can be responsible for your financial affairs, your property, and your healthcare. This person will also be able to make decisions on your behalf if you are incapacitated. Assigning someone to this role can avoid the process of having a guardian appointed by the court. This process can be lengthy, expensive, and public.
HIPAA Authorization
While privacy laws are important, they can prevent individuals from obtaining information about your health. Signing a HIPAA authorization to your POA will give them access to the history of your medical records. This may be needed for a number of reasons if they need to make a decision for your health if you are incapacitated. Without a HIPAA authorization, privacy laws can prevent them from obtaining necessary information. Signing a HIPAA authorization will only be valid until you are declared incompetent or are incapacitated. It is important for your legacy planning documents to include an authorization for to allow your POA to act quickly on your behalf.
Have A Long-Term Care Plan
You should have potential long-term care plans included when planning for your future. Long-term care can be very expensive, and you want to make sure you can financially plan for this potential cost. This can ensure that your loved ones won’t have to worry about finances when it comes to making decisions on what care is best for you. Having an idea of what type of long-term care you may need may also include purchasing long-term care insurance which can help with covering future healthcare costs. This can include skilled nursing care, disability care, and therapy such as occupational, speech, physical, and rehabilitation. By assessing the likelihood of you needing care in the future, you will also be able to understand the costs that are associated with receiving care. Consider your budget and what you can afford. Weight that information against the type of care you want and have discussions with your family members on what you want your future to look like.
Have An End-of-Life Plan
In your estate documents, you will need to decide what your end-of-life wishes are. These decisions may include if you want to receive hospice care, palliative care, or other treatments. This can allow your Power of Attorney to ensure that your wishes are respected. This is also when you can decide if you want to be resuscitated and if you want to donate your organs. In your estate you can also make it clear what you would like your final disposition to be. This can help medical professionals, and your POA, organize what you wish to do with your remains. Thinking about your wishes for how you want to be cared for in your final months or moments in life can be stressful. Take the time to consider your options and have trust in your estate planning counselor to prepare your wishes in the perfect way to help protect your legacy and wishes.
Minimizing Family Conflicts
By clearly outlining your wishes for your estate and your future, you help avoid and prevent disputes among your family members about your care. This is why it is important to also pick someone you trust to be your POA. When your preferences are clearly documented within your estate planning documents, it can reduce the likelihood of disagreements between loved ones trying to make chouces about your health and estate on your behalf. Dynamics can be complicated and become even more stressful in a time of losing a loved one. You can help avoid tension and disagreements by clearing stating what your wishes are for yourself and your estate through planning documents. Your estate planning counselor and your POA can help ease everyone though the process of grieving and allow them to focus on celebrating you and how you wanted to be celebrated.
Focusing On Financial Stability
When estate planning, you will need to take time to consider the expected and unexpected costs that can come with medical expenses, end-of-life wishes, even estate taxes. Thinking ahead of the care you may possibly need to receive in the future if never easy. Without knowing exactly what care you may or not need makes it hard to make a decision on how to financially prepare for the unknown. You may need long-term care, specialized medical treatments, or extended hospital stays which can be costly. You need to plan for these expenses, so the costs won’t fall on loved ones. Deciding on what ceremonies or funeral you would like at the end of your life also help you make sure you are financially prepared. The financial condition of your estate can help determine what type of care you can afford. If you want parts of your estate to be passed to your loved ones, you need to make sure your estate is not depleted by unexpected medical costs.
Call Taneff Law Today to Start Thinking About the Future Of Your Health
We know legacy planning can be over whelming and difficult to talk about. Having a trusted estate planning counselor can help ease the stress of this process. Making sure to incorporate healthcare planning into your estate planning process will ensure that your goals and values will be met. Contact Taneff Law today to meet with an estate planning counselor and start the process of estate planning. Have a peace of mind knowing that your healthcare and legacy wishes are prepared, and your loved ones won’t have the burden of making difficult decisions during stressful times.