A recent inquiry to our office highlights why estate planning is about much more than what happens after death.
A grandfather who was his adult son’s primary caregiver, had to be moved to a long term care facility after a fall. The son was seriously ill and had received a terminal diagnosis. Neither had executed Powers of Attorney, Healthcare Directives, or other essential planning documents, like a Last Will and Testament or Revocable Living Trust.
The family suddenly faced urgent questions:
- Who can access bank accounts to pay bills?
- Who can make healthcare decisions?
- Who can manage or sell property if necessary?
- How can long-term care and Medicaid planning be handled?
Unfortunately, family members do not automatically have legal authority to act simply because they are related. Without the proper documents in place, loved ones are often forced to pursue a court guardianship proceeding, which can be costly, time-consuming, and stressful during an already difficult time.
A properly prepared estate plan typically includes a General Durable Power of Attorney, an Advance Healthcare Directive, and either a Last Will and Testament (Will) or a combination of a Will and Revocable living trust. These documents allow trusted individuals to step in when needed and can help families avoid unnecessary court involvement.
The lesson is simple: once incapacity occurs, many planning opportunities may be lost. The best time to put these protections in place is before a crisis arises.
Does your extended family have a situation like the one above where you or someone else within your family need to have legal authority to act on their behalf in case of of an emergency? Contact our office today to discuss Powers of Attorney, Healthcare Directives, Living Wills and possibly Medicaid or other death tax planning strategies that can help protect your family and preserve their options as well as their estate for the future.