A poor health diagnosis or need for major surgery can disrupt your day-to-day life. So, estate plans are likely far from top-of-mind. Despite the fact you have much to contend with due to such taxing demands, it’s crucial
to consider estate plans in times of change. In fact, proactive planning can ease you and your loved one’s minds, so you can focus on treatment and recovery.
Here is a short list to consider:
Healthcare Documents
These include Powers of Attorney (POA), advance directives, and HIPAA authorization. These documents enable you to appoint someone to receive information about your medical condition and help you make medical decisions if you’re unable. Do you know which of your loved ones you’d like at the helm if such a situation arises? Whoever you name should be granted legal authority to act.
Financial POA
Although healthcare agents or proxies can decide things on your behalf in medical scenarios, a financial POA concerns your money, investments, bills, and taxes. This document assigns a trusted person (such as a spouse, child, or friend) to help you with your finances and property so such issues won’t become a distraction.
Updated Trusts
Your estate attorney can help you create an up-to-date and fully-funded trust, so you can focus on your health while your successor trustee handles affairs related to your trust. This could include most, if not all, of your assets. In this case, you will still receive the benefits of your trust. But your successor trustee will manage the trust on your behalf. If insufficient time exists to fully fund a trust, revising an up-to-date will could explain your wishes upon your death. When time is of the essence, a will is a realistic planning tool. But if you already have a trust, updates are relatively easy to implement.
When it comes to medically-trying times, a little planning goes a long way. While you’re busy handling your own medical issues or the medical issues of a loved one, take time to define and implement estate planning documents so you will feel prepared for whatever comes next. Reach out to us so we can chat about your estate planning needs and help you achieve peace of mind in the midst of the storm.
About Skvarna Law
A skilled attorney can assist with your estate plan. Contact us today to learn about your options (909) 608-7671. We operate offices in Glendora and Upland, California. We provide legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
