Creating a comprehensive estate plan is essential to everyone, but it is extremely important for those with health conditions. Estate planning allows you to create a legal plan for what will happen to your assets when you pass away – giving you peace of mind knowing that you have full control over who will receive your estate. If you or your loved one has health conditions, specific areas should be addressed when creating an estate plan. Our Metro West Boston estate planning attorneys break it down for you below.
Need help creating a comprehensive estate plan? Contact us today at (800) 828-7854 to schedule a consultation!
Estate Planning for People with Health Conditions
Discovering that you or your loved one has a serious health condition is never easy. Since the future is unpredictable, we recommend those with health conditions draft a comprehensive estate plan that will protect their best interests, assets, and loved ones. Estate planning doesn’t only protect your wishes regarding your assets and beneficiaries. It can also protect you and your health in the event that you are physically or mentally unable to make decisions.
Appoint a Healthcare Directive
If you have health concerns, you should consider appointing a healthcare directive. A healthcare directive is a legal document that specifies your wishes regarding your health if the situation arises. For example, when a person is ill and is no longer capable of making decisions themselves, their healthcare directive will provide clear instructions on life-changing decisions.
Common illnesses that may benefit from a healthcare directive include Alzheimer's, dementia, getting into a coma, and even COVID-19. Many people have been affected by the recent pandemic and did not have an estate plan, making it difficult for family members to make healthcare decisions and distribute assets.
Appoint a Financial Power of Attorney
Another legal document you should consider is a financial power of attorney. A financial power of attorney can help you appoint an individual of your choice to take control of your finances in the event that you can no longer make financial decisions due to a health condition. Having a financial power of attorney can give you peace of mind knowing that someone you trust can ensure that your finances are in order and are protected, regardless of the situation you find yourself in.
Choose a Legal Guardian for Your Child
If you have children, you should also consider choosing a legal guardian for them when you create your will. In the event that both parents pass away, you can nominate a legal guardian to care for your child or even your pets. This can also give you peace of mind knowing that your children are taken care of in the unfortunate event that you nor the other parent can.
Experienced Estate Planning Attorneys
With so many different elements to estate planning, you may not know where to start or what is necessary for you. Our team at Marsden Law P.C. is dedicated to estate planning with care. We understand how challenging it is to have a healthcare condition and the importance of protecting your loved ones, wishes, and estate. Our team of estate planning attorneys can help you ensure that you have all the legal documents necessary to protect your wishes in the event that you are no longer able to make decisions. We are here to help you with the estate planning process from start to finish.
Contact our Metro West Boston estate planning lawyers today at (800) 828-7854 to schedule a consultation!