If you’re like most people, you will have medical issues sometime during your lifetime. It is imperative that you have up to date estate planning documents to address these medical issues.
What estate planning documents address medical issues?
The revocable living trust, financial power of attorney, power of attorney for healthcare, all address lifetime medical issues.
The financial power of attorney addresses medical issues?
Yes, the financial power of attorney authorizes your agent to pay medical bills during your lifetime and authorizes an agent to act on your behalf on all kinds of day to day matters if you are too sick to do so.
And, the revocable living trust addresses medical issues?
Yes, the revocable living trust has detailed instructions that take effect if you are so sick that you are deemed to be disabled. Your trust will set forth details that define your disability, appoint disability trustees, and give your disability trustees specific instruction as to how to take care of your person and your assets during any period of disability.
Is there anyone who can actually make medical decisions for me?
Yes, your Power of Attorney for Health Care lets you appoint someone you trust to make all medical decisions for you. I always keep these documents broadly worded because for many they sit in a drawer for years without being needed. By the time they are needed your feelings about things may have changed or advances in medical technology may make decisions made 20 years earlier look unnecessary. It will be important to have those uncomfortable “what if” discussions from time to time, but it is really the only way those close to you will know what you want done.
Most people want to avoid being like Terri Schiavo who was artificially kept alive for 15 years, while brain dead. The holder of your Power of Attorney will give that power to someone you trust.
If you have questions about the life time benefits of estate planning (i.e. medical issues), please feel free to call our estate planning law office at (858) 792-5988. We’d be happy to assist you.