Most people understand that estate plans can protect their spouses and dependents after they die. People may not understand that estate plans also provide protection for the testator drafting the documents.
There are certain estate planning documents that can take effect in the event of a personal emergency, as opposed to after the death of the testator. Unmarried and divorced adults, people preparing for retirement, and those facing significant medical challenges may want to make sure they have support should a medical emergency occur. What documents can help in an emergency?
Advance directives can offer support and guidance
Testamentary instruments, such as wills, are not the only estate planning documents people can create. Advance directives, also known as Living Wills, which discuss possible medical emergencies can also be helpful.
Most adults, including young adults who have just left for college, and those recently divorced, could benefit from drafting an advance health care directive. They can provide clear instructions regarding their medical preferences. They can also name someone to act as their medical decision-maker in the event of a terminal condition or a state of permanent unconsciousness.
Powers of attorney can also be important if a person experiences a medical emergency. A principal can use a power of attorney to name someone they trust to manage their resources and pay their bills, or to spell out particular medical powers including the right to access protected health information under HIPAA. People with appropriate plans in place should feel confident about receiving care that aligns with their personal values.
Expanding an estate plan to include advance directives and powers of attorney can be beneficial for people in many different circumstances. Advance directives provide support for vulnerable people and take the pressure off their closest loved ones in an emergency.
Reaching out to the team at Wolf, Baldwin & Associates, P.C. by clicking here or calling 610-362-5649 can help people establish estate plans which address their unique concerns.