A robust estate plan may include a number of documents in addition to a will. Some people establish trusts to help themselves qualify for benefits as they age or protect their assets from attempts at debt collection later in life. People may also draft documents to ensure that any medical care they receive while incapacitated aligns with their personal wishes and ethical beliefs.
It is even possible for people to establish estate planning paperwork to protect themselves from guardianship. Those who become permanently incapacitated due to serious medical issues may lose the ability to act on their own behalf and sign legally-binding documents.
They may also be at risk of other people requesting a guardianship. Guardianship grants another person control over a vulnerable individual’s life and their assets. A comprehensive estate plan can prevent others from obtaining a guardianship after an individual becomes permanently incapacitated due to injury, illness or advanced age.
People can plan for permanent incapacitation
Many people consider adding powers of attorney to their estate plans. They know they may need someone to handle their finances if they end up in a coma or otherwise become incapacitated. They may also want someone to speak on their behalf regarding their medical preferences.
Unfortunately, standard powers of attorney that do not contain specific language can become ineffective if an individual becomes permanently incapacitated. Thankfully, people can draft special documents that protect them from this exact situation.
It is possible to work with an attorney to draft durable powers of attorney that retains their authority during permanent incapacitation until someone either recovers unexpectedly or dies. By executing that document before incapacitation occurs, the principal drafting the documents can effectively choose their own guardian. Otherwise, anyone who decides to take the issue to court could gain control over their life and their resources.
While it can be unpleasant to consider scenarios that might result in permanent incapacitation, it is a known risk for which people can plan. Adding durable powers of attorney to an estate plan can be a smart move. Those preparing for retirement or dealing with major medical challenges are among the people who may benefit from the creation of a variety of estate planning documents.
