People set up estate plans to ensure that their assets are managed properly in the wake of their passing. While wills and trusts help families cope with the loss of their loved one and facilitate the proper distribution of property, there are other reasons why estate plans are critical. For example, there are a number of medical issues to consider when it comes to creating an estate plan and the steps one takes to prepare will likely have a major impact later on.
For starters, people are able to set up a health care power of attorney and appoint an agent to make critical decisions for them in the event that they become incapacitated. This is valuable for many reasons, from making critical health care decisions to assisting with legal hurdles that arise. Moreover, some people who are struggling with a terminal illness decide to set up a Do Not Resuscitate Order. Furthermore, it is important for people to think about their preferences with respect to organ donation and document their wishes.
There are a lot of ways in which one’s health affects their finances, end of life issues and the distribution of their estate after they pass away. Focusing on finances is pivotal, but people should not overlook health care matters, even if they are in good health and are not currently experiencing any health problems. On our website, you will find a lot of information related to different estate plan topics. Make sure that you set aside enough time to handle these matters correctly and make life easier for your loved ones in the future.
