Incapacity Planning: Don’t wait Until it’s too Late

Most people understand the importance of a well rounded estate plan, as this is necessary to ensure that their assets are passed down to the appropriate person (or persons) upon their death.

But have you considered the importance of incapacity planning? Here is the basic definition, as you will find on our “Incapacity Planning” webpage:

“Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself.”

This has nothing to do with you passing away. Instead, this comes into play if you are incapacitated to the point of not being able to care for yourself. This could happen as the result of an illness or injury.

Note: people of all ages should consider the benefits of incapacity planning. This is not something solely for older individuals.

What does it Entail?

Many people never consider incapacity planning because they are unsure of what it means. This type of care could range from basics, such as paying bills, to more difficult decisions, such as making medical decisions and selling real estate.

Now that you know what incapacity planning entails, you should become familiar with the techniques available to you. These include:

• Health care power of attorney
• Property power of attorney
• Living will
• Guardianship
• Advance health care directives

At this point, there is a good chance you better understand the importance of incapacity planning. You may also realize something else to be true: you don’t know how to get started or which decisions are best for somebody in your position.

Despite your uncertainty, you must still focus on this portion of your estate plan. Rather than make decisions on your own, hoping that you avoid mistakes, contact us for professional guidance.

We have helped many clients create a plan they are comfortable with. This way, you know that you and your affairs will be in good hands should you become disabled.

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Stephanie Thompson, Estate Planning Attorney of Krueger Hernandez & Thompson SC

As the owner of Krueger Hernandez & Thompson SC, it is Stephanie’s mission to address each client’s goals for their estate plan. By identifying their wishes and concerns she can educate, guide, and counsel on the different tools and options that will effectively and efficiently accomplish those goals.

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