None of us likes to consider the possibility of our becoming ill or disabled. It's not pleasant to think about our mortality but we tend to be more amenable to the need to plan for our families than the need to perhaps plan for ourselves. But if we don't plan ahead and something bad happens to us and we become incapacitated, the probate court will get involved in deciding who should take care of us and our affairs during our period of disability. We can spare our family members the hassle of going to court and getting a guardian or conservator appointed, and we can spare ourselves the displeasure of having a guardian or conservator appointed that is not someone we would have chosen ourselves. The appointed guardian or conservator will typically be a family member, but may not be the family member we would have wanted in that role.
Who would you like to have make medical decisions for you if you are unable to make them for yourself? Using a simple legal form you can appoint this person as your Health Care Proxy. This person has the authority to make medical decisions for you after a doctor has authorized that you are unable to make decisions for yourself. However, they will need access to your medical records in order to make informed decisions. Because of patient privacy laws, it's also important to have a legal document called a HIPAA Release so your "proxy" can see your medical records. (HIPAA, a federal patient privacy law, stands for the Health Insurance Portability and Accountability Act). Otherwise they may be denied access to your records.
What about your financial affairs? Who would you trust to have access to your money and pay your bills for you, and make other financial decisions, during a potential period of disability? You can appoint a person to handle your finances in case of disability rather than letting the probate court do so. This requires a legal document called a Durable Power of Attorney. The person you designate to act on your behalf is called you "attorney-in-fact". You can choose how little or how much power you give to your attorney-in-fact in regards to managing your finances.
Another financial factor to consider is the risk of losing your assets to soaring medical bills while disabled. If you create a trust the assets you put into it will be protected from creditors and can be used to provide for you as needed. Despite popular belief trusts serve many purposes and are not just for the wealthy.
These are just a few examples of the legal documents you may wish to have to protect your interests. Your legal needs may vary based upon your circumstances.
Who would you like to have make medical decisions for you if you are unable to make them for yourself? Using a simple legal form you can appoint this person as your Health Care Proxy. This person has the authority to make medical decisions for you after a doctor has authorized that you are unable to make decisions for yourself. However, they will need access to your medical records in order to make informed decisions. Because of patient privacy laws, it's also important to have a legal document called a HIPAA Release so your "proxy" can see your medical records. (HIPAA, a federal patient privacy law, stands for the Health Insurance Portability and Accountability Act). Otherwise they may be denied access to your records.
What about your financial affairs? Who would you trust to have access to your money and pay your bills for you, and make other financial decisions, during a potential period of disability? You can appoint a person to handle your finances in case of disability rather than letting the probate court do so. This requires a legal document called a Durable Power of Attorney. The person you designate to act on your behalf is called you "attorney-in-fact". You can choose how little or how much power you give to your attorney-in-fact in regards to managing your finances.
Another financial factor to consider is the risk of losing your assets to soaring medical bills while disabled. If you create a trust the assets you put into it will be protected from creditors and can be used to provide for you as needed. Despite popular belief trusts serve many purposes and are not just for the wealthy.
These are just a few examples of the legal documents you may wish to have to protect your interests. Your legal needs may vary based upon your circumstances.