Planning for incapacity is a good idea but can also be challenging or intimidating in some circumstances. For estate planners who want to plan for incapacity, or loved ones who want to help family members plan for incapacity, it is useful to be familiar with estate planning tools that can make the process of planning for incapacity less daunting than they may think.
Several important estate planning documents can help estate planners plan for incapacity. To begin with, estate planners should plan for medical incapacity in the event they become incapacitated at some point and are unable to direct their own medical care or treatment. An advance healthcare directive, or living will, can help estate planners specify the medical care and treatment they wish to receive or do not want to receive, including end-of life care and resuscitation measures.
Additionally, a durable power of attorney for medical care can also appoint a trusted individual to direct the estate planner’s medical care and treatment, especially in instances when it may fall outside of the advance healthcare directive already in place. A durable power of attorney for financial affairs is also important to have because having one can appoint a trusted individual to handle the estate planner’s financial affairs if they are unable to do so because of incapacity.
Guardianships and setting up a guardianship is another valuable estate planning tool that can help plan for incapacity. Estate planning tools provide a wide variety of options to help estate planners prepare for whatever comes down the road and are resources estate planners should be familiar with.