Planning for your incapacity allows you to protect yourself and gives the people you trust guidance during a difficult time. With the help of an estate planning attorney, you can build an estate plan that takes into account possible incapacity so that your wishes are known.
You should have the following legal documents in place:
- Medical Power of Attorney: Provides the person you designate with the power to make medical decisions for you when you can no longer speak for yourself.
- Medical Orders for Scope of Treatment: MOST form, which must be done through your doctor.
- General Durable Power of Attorney: Provides access to your financial assets for the person you choose to pay your bills and handle your finances.
- Trust: A legal entity that holds your assets so your trustee can manage them in the event of incapacity.
- Living Will: Expresses your wishes for end of life if you are on life support.
- HIPAA Release: Provides access to your medical information for the people you choose.
Guardian/Conservatorship
If you do not have valid financial and medical powers of attorney, a guardian and/or conservatorship may be necessary. A court must appoint a guardian and conservator to make medical and financial decisions for incapacitated adults and minor children, which can be expensive and time consuming. Without planning, such as making guardianship appointments for minors, and executing financial and medical powers of attorney for adults, these court-based processes may be necessary.
