Estate Planning Tips: Don’t Forget Incapacity

April 28, 2015

Most people are familiar with the idea of using estate planning as a way of determining what happens after they pass away, but there are also benefits to planning ahead for possible incapacity. Thinking about this could be critical for setting aside instructions for personal care and determining who can help manage your assets in the event that you become incapacitated. shutterstock_175620806

Without the health care decisions being made by you and documented in legal forms, your family members might have to petition the court in order to make healthcare decisions for you or to manage your assets. An incapacitation could occur after a heart attack, stroke, or other health crisis, and these events are more common than you might think.

There are a few documents that can help protect you in the event of incapacitation. The first is your durable power of attorney, which gives you the right to name someone else to manage your financial affairs. To take it one step further, you might also wish to put together a revocable living trust. A healthcare power of attorney and a HIPAA authorization are other documents that you should consider using for incapacity planning. These instruments keep your family from undergoing additional stress and frustration in the event that something happens to you. Contact us at info@lawesq.net.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

The Bond Market Today: How Iran, Inflation, and Interest Rates Are Influencing Fixed Income

Geopolitical tensions and rising oil prices are influencing inflation expectations and interest rate outlooks. Explore how current bond market dynamics may affect investors. Global events ...

<p>The post The Bond Market Today: How Iran, Inflation, and Interest Rates Are Influencing Fixed Income first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Understanding Gift Tax Returns: What They Are, When to File, and What You Need to Know

Learn what a gift tax return is, when it must be filed, key tax implications, deadlines, and how adding children to assets may trigger reporting requirements. Understanding Gift Tax Returns: A Practical Guide for Individuals and Families Gift giving is often part of a ...

<p>The post Understanding Gift Tax Returns: What They Are, When to File, and What You Need to Know first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Donor Advised Funds: A Strategic Tool for Estate Planning, Tax Efficiency, and Multigenerational Wealth

Learn how donor-advised funds can support estate planning, reduce tax exposure, and simplify charitable giving for high-net-worth individuals and families. Donor-Advised Funds: Aligning Philanthropy with Financial Strategy For individuals and families focused on long-term wealth stewardship, charitable giving is often more than an act of generosity—it’s a strategic component ...

<p>The post Donor Advised Funds: A Strategic Tool for Estate Planning, Tax Efficiency, and Multigenerational Wealth first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>