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Guarding Against Incapacity: Documents You Need

October 17, 2016

It’s Estate Planning Awareness Week and a good opportunity to remember that estate planning is about more than what happens when you pass away. It’s also about what happens during your lifetime. Should you become suddenly incapacitated, would you have someone to step in and help with your affairs? 

Two key documents are worth considering in this process. When you plan properly, you can help to protect your assets and estate while you’re still alive. The first document to consider is a durable power of attorney. This allows someone else to manage your affairs if you were to become unable to do so as a result of a disability or other issue. This person can pay bills for you, direct investments, or file taxes when you are unable to do it.

The other document you should keep in your arsenal is an advanced medical directive. This means someone else can make medical decisions on your behalf. You can talk more with your New Jersey estate planning lawyer about how these work and how to choose someone to serve in this role.

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