What is Incapacity Planning?
Incapacity planning is more important than death planning. You need to have a good plan in place for what happens if you become temporarily or permanently incapacitated. If you are in a serious car accident, but you do not die, you may not be able to take care of your own affairs for a matter of months or a matter of years. Who is going to pay the mortgage? Who is going to make medical decisions for you? This is what incapacity planning is designed to accomplish.
There are certain strategies that give you a certain amount of control over your life even when you are incapacitated. We consider an incapacity plan as part of the basic estate plan that everyone should have. We recommend that you consider the following types of incapacity planning documents:
- Statutory Durable Power of Attorney
- Medical Power of Attorney
- Directive to Physicians and Family or Surrogates
- HIPAA Release
- Declaration of Guardian in the Event of Later Incapacity or Later need of Guardian
The appointment of an agent under a power of attorney will allow your agent to act on your behalf with respect to asset management and health care decisions. The Statutory Durable Power of Attorney addresses the management of your finances and your Medical Power of Attorney addresses the management of your medical decisions. The Directive to Physicians and Family or Surrogates communicates your decisions about the level of life-prolonging measures to be taken to keep you alive. You might have heard of the Terri Schiavo case in Florida. Ms. Schiavo did not have a Directive to Physicians.
An often overlooked planning tool is the Declaration of Guardian in the Event of Later Incapacity or Later need of Guardian. The most litigated part of a guardianship proceeding centers on who will become the guardian. It will avoid much heartache and potential litigation if you make your desires known ahead of time.
Read more on our FAQS on Basic Estate Planning.
HOW CAN WE HELP?
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We believe each family is unique and that your family dynamics and personal circumstances should be carefully considered when designing your plan.
Our goal is to understand your concerns, your goals, and your family’s needs. Our caring and compassionate approach to these important matters will allow you to comfortably explore your options and make informed decisions.
To provide quality and personalized estate plans which provide families the levels of protection which meet their individual needs. We consistently strive to maintain a highest levels of customer service by remaining attentive to your needs.
We are committed to putting our clients first. Our law firm realizes that clients are entrusting us with matters that are most important to them.
Let us help your family. Please feel free to contact us for a free consultation.
Willi Law Firm, P.C.
5920 W. William Cannon Dr.
Bldg. 6, Ste. 100
Austin, TX 78749
Main: (512) 288-3200
Facsimile: (512) 277-6010
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The attorneys at Willi Law Firm are your Austin, Texas resource for estate planning, wills, living trusts, firearms trusts, powers of attorney, living wills, probate and estate administration, trust administration, special needs trusts, disability planning, Medicaid applications and qualification, long-term care planning, elder law, Medicaid crisis planning, charitable planning, estate tax planning, business and corporate planning, business succession and sales, and asset protection.
Willi Law Firm proudly serves Central Texas individuals and families in the following counties: Bastrop, Blanco, Burnet, Caldwell, Hays, Lampasas, Lee, Travis, and Williamson, and in the following communities: Austin, Bastrop, Brushy Creek, Buda, Burnet, Cedar Park, Driftwood, Dripping Springs, Elgin, Georgetown, Hutto, Jollyville, Kyle, Lakeway, Lago Vista, Lampasas, Leander, Lockhart, Luling, Manchaca, Manor, Marble Falls, Oak Hill, Pfugerville, Rollingwood, Round Rock, San Marcos, Shady Hollow, Spicewood, Taylor, Wells Branch, Westlake, Windemere, and Wimberley.