
Disability planning enables a person to maintain control over his or her personal affairs even when mentally incapacitated.
We live in a society where medical science is becoming increasingly proficient at sustaining and extending physical life. However, treatments to extend our mental faculties are not expanding in direct proportion to life-extension treatments: more and more people are becoming mentally incapacitated prior to becoming physically incapacitated. Persons who fail to plan for disability subject themselves and their estate to a guardianship proceeding in which a probate court will appoint a guardian to manage the person’s finances and physical well-being. A guardianship can be an expensive, public, and humiliating experience for all parties involved.
Financial powers of attorney and health care directives allow you to control your personal affairs, even when you can no longer make decisions or manage your life.
Financial Power of Attorney - Gives a trusted person the authority to make financial decisions for you.
Health Care Power of Attorney - Grants a trusted person the authority to make health care and future medical treatment decisions when you person are no longer competent or cannot give consent for medical treatment yourself.
With a funded trust and a health care power of attorney, a guardianship proceeding can be completely avoided in the event of mental incapacity. A living trust allows a person to leave instructions on how assets can be managed for the benefit of the disabled trustmaker and his family. Such instructions are required to be followed by a successor trustee.
To discuss your specific needs, call 1-614-760-1801