Managing a terminal illness is very challenging, both emotionally and practically. One of the most important steps you can take is to get your affairs in order, providing peace of mind for you and your loved ones.
Proper estate planning can help you manage your assets, make health care decisions, and convey your final wishes, reducing the burden on your family during an already difficult period.
Creating a will
A will forms the cornerstone of your entire plan, outlining how your assets will be distributed after your death. Ensure that your will is up-to-date and reflects your current wishes. Include details about who will inherit your property, care for your children, and manage your estate.
Establishing power of attorney
Granting power of attorney (POA) to a trusted individual (your “agent”) allows them to make financial and legal decisions on your behalf if you become incapacitated. You can choose what powers your agent can exercise, such as managing bank accounts, paying bills, filing taxes, and selling real estate. Choose someone who understands your wishes and can act in your best interest.
Implementing an advance health care directive
Advance directives like a living will and POA for health care let you specify your medical preferences. A living will details the types of care you want or do not want if you are in a terminal condition and cannot communicate. A health care POA designates someone to make medical decisions on your behalf.
Communicating your wishes
Openly discuss your wishes with your family and loved ones. Clear communication can prevent misunderstandings by ensuring everyone knows your intentions and will not interfere. Arranging a family conversation also allows you to address any concerns or questions your family may have.
Experienced, compassionate estate planning guidance can help your final days pass more smoothly while protecting your assets and loved ones. Contact a local estate planning attorney today to help ensure your peace of mind.