Those three words, “planning for incapacity,” may not be something that comes to mind often, if at all. Maybe you think you are too young to begin thinking about your future, or you do not want to think about something like this happening to you, no matter your age.
Estate plans are a necessary evil to keep the government from taking your assets or by someone who may not put your money or property to good use. As part of your estate plan, advanced medical directives also protect you while you are still alive but unable to convey your requests.
1. Living will
Like a regular will, a living will lets others know what your wishes are. In this case, it pertains to your health. A living will is an advance medical directive that tells the doctors what to do if you are alive but unable to communicate. This type of will does not deal with money or property.
2. Do not resuscitate order
You may want to add a DNR to your living will. This document lets the doctors decide whether to resuscitate you in a medical emergency. It only pertains to the use of CPR or other life-saving maneuvers such as breathing tubes, defibrillators or the use of medications.
3. Powers of Attorney
With these documents, you choose a person to oversee the financial and medical choices you would want to make but are now unable to. You can pick one person who handles both or divide the responsibilities between two people.
Take the pressure off family and loved ones by putting these documents into your estate plan. Planning for your future now means you may not have to make those hard decisions later.