What Is Incapacity Planning?
With the excellent improvements in medical technology, it is reasonably likely that you will live longer. Even though it is more likely now that you will survive a major car accident and that you will live to a ripe old age, it is also more likely that you will become unable to handle your own affairs for some part of your life. Incapacity planning is designed to protect you and your family during your temporary or permanent incapacity.
When Should I Create An Incapacity Plan?
At Willi Law Firm, we include incapacity planning in our regular estate plan. There is really no excuse for not having a financial power of attorney and medical power of attorney. For example, if someone has a stroke, and a car needs to be sold that is in their sole name, you will need a financial power of attorney. Also, a directive to physicians, sometimes referred to as a living will, is also a necessary estate planning document. The unfortunate story of Terry Schiavo is the classic example of what can happen when there is no directive to physicians. Ms. Schiavo’s family could not agree as to whether she wanted to have life support removed when she was in an irreversible persistent vegetative state or if she would rather be kept alive just in case she recovered.
What Should An Incapacity Plan Include?
The basic documents include:
- 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
There are also techniques used in the drafting of trust documents that protect you and your family in the event of incapacity.
What Are The Types Of Details That Need To Be Covered In Incapacity Planning?
We will need to know the first, second, and possibly third choices for your medical power of attorney and your financial power of attorney. We will be discussing all of your options for these and other documents.
What Aspects Of My Estate Plan Will Include Details About Incapacity Planning?
The basic documents listed above will cover most of your concerns. We also provide services that allow you to consider what your personal interests would be if you could no longer express yourself. How often you would want visitors? What are your favorite foods? What type of entertainment you enjoy? These are the types of questions that, while not necessarily legal, help to prevent family arguments later about what mom or dad really wanted.
Can I Choose More Than One Agent To Hold The Power(s) Of Attorney?
Generally, there are two different powers of attorney, one for medical decisions and one for financial decisions. It is very typical to have a different person for each of these powers. For example, you might trust one son for medical decisions because he is closer to you personally and would know your wishes. But you might choose the other son for a financial power of attorney if he is better at making financial decisions.
For more information on Incapacity Planning In Texas, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (512) 522-0906 today.
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.