A heath care directive is a legal document that lets you express your health care preferences and, if you wish, designate authority to someone to make care decisions for you, if you cannot make them yourself.
With a Power of Attorney, you designate which individuals are in control of your assets and who can take care of your affairs, if you are unable to do so.
A majority of retirees—53%—have a last will and testament. However, most lack six other crucial legal documents.
Obviously, the first step is to work with your doctor to slow the progression. However, there are legal steps you need to take as quickly as possible.
In a nutshell, an estate plan encompasses the accumulation, conservation and distribution of an estate. Done well, it will enhance and maintain the financial security of the next generation.
If you are caregiving from a distance (you live here and your parent or other loved one is in another state, a distant city or as close as an hour away), it can be even more daunting than doing it in your home.
The most common misconception estate planning attorneys hear, is that someone doesn’t need an estate plan because their client isn’t elderly or on death’s door.