Don’t forget to look after yourself! When creating an Estate Plan be sure it includes Incapacity Planning. Every Estate Plan will have either a Living Trust or Will as its foundation. You need to do more though to be sure Probate Administration will be fully avoided. Remember, Probate Administration is a costly, lengthy, public procedure! Probate Administration can not only prolong loved ones from getting assets after you pass, but in the case of incapacity planning, it can affect your care! You and your family certainly won’t want that to be in someone else’s hands. To make sure this doesn’t happen and to protect yourself from probate exposure during your lifetime, a good Estate Plan will also include incapacity planning documents. This is something you can easily take care of by including Financial and Healthcare Powers of Attorney to make certain you avoid Probate Court Conservatorship and Guardianship. Planning for incapacity will ensure you and your loved ones can make deliberate choices to secure dependable care – care for you they can trust and for those under your care who you will no longer be able to tend to. Not just ANY care while decisions are stuck in court.
Here are Incapacity Planning Basics:
- Sign a Healthcare Power of Attorney to avoid Probate Guardianship
- Ensure that your minor children are provided for by naming guardians
- Sign a Living Will to give your Healthcare Agent guidance
- Organize your assets and online profiles to ensure a smooth transition
- Sign a Financial Power of Attorney to avoid Probate Conservatorship
If you feel that your current Estate Plan is lacking in the area of incapacity planning, please contact me today! I can create provisions in your Living Trust for Successor Trustees to step in to take care of you when you may not be able to care for yourself. Give me a call at (517) 708-2222 or email me at Katrina@CornerstoneLegalPLLC.com.