Thank you to every first responder for all that you do! The first one on scene faces more risks in life, on average, than someone in another field. Just as you dedicate yourself to protecting others, we want to focus this blog post on the way to protect you and your loved ones from emergencies that may pop up during your lifetime and beyond. Taking the following questions into consideration could prevent an estate planning-based emergency in your own family.
What Happens if A First Responder is Injured or Unable to Make Decisions?
Since you spend your time rescuing other people, you may find it difficult to imagine a time when you might need help or rescue. However, such things happen every day. To best protect yourself and your loved ones, consider a few things:
Disability Insurance for First Responders
This allows you to supplement some of or all your income if you cannot work. With the proper coverage, you and your loved ones will enjoy sufficient income following a calamity. Without disability insurance (or insufficient coverage) you could struggle to pay bills.
Financial Power of Attorney
Choose a trusted person (an agent) to handle your financial matters. They can open a bank account and sign checks when you cannot. Specify their limitations based on your state’s law. Without this document, a court must appoint someone to manage your financial affairs. What’s more, the court may select may someone you would not have chosen.
Revocable Living Trust (RLT)
Looking for maximum protection for your loved ones with minimum court involvement? An RLT applies if someone else needs to manage your money and property. An RLT also prevents you and your loved ones from going through probate. You may want the terms of the trust agreement to apply after your death. For assets such as retirement accounts, you may need to name the RLT as the beneficiary instead of changing ownership. In most cases, you (or your spouse, if applicable) serve as the initial trustee. Thus, you continue to manage the money and property. In addition, you will retain the use of the money and property during your lifetime. A backup trustee steps in without court involvement to manage the trust. You can also designate what happens to the trust’s money and property at your death.
First Responder Medical Power of Attorney (POA)
A medical power of attorney allows you to appoint a trusted person as your medical decision maker. As such, they communicate or make healthcare decisions on your behalf. Absent this designation, the court names someone to make such decisions for you. As with your financial matters, the person selected by the court may not be the person you would have entrusted with that task.
Advance Directive or Living Will
Known by either name depending on state law, an advance directive, or living will, allows you to convey your wishes regarding end-of-life decisions. This document names someone to fulfill your wishes. This reduces tensions among loved ones which may be brought on by uncertainty.
HIPAA Authorization Form (HIPPA)
This form allows you to grant specific individuals access to your medical information. It does so without giving those individuals the authority to make decisions on your behalf. Although these individuals cannot make any decisions, sometimes providing loved ones with information can help prevent conflict between your chosen medical decision maker and the rest of your loved ones because no one is left in the dark.
Once again, thank you for all that you do as a first responder. You do so much to protect everyone else, we want to take this opportunity to protect you. If you would like to discuss these matters further or if you have additional questions, please contact us. We are available for in-person or virtual consultations, whichever is most convenient for you.
About Skvarna Law in Glendora & Upland, California
Skvarna Law Firm operates offices in Glendora and Upland, California. Also, we provide legal services. We cover San Bernardino, Los Angeles, Orange, and Riverside Counties. This includes several cities. Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Pomona, La Verne, Montclair, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma.
