The most important aspects of life planning and end-of-life preparation should begin well before we enter the final stages of our lives. In fact, life planning should begin while we have good health and are considered to be of sound mind; certainly well before a doctor, hospital, or skilled nursing center requires decisions to be made.
How do we begin? First, give ample consideration
to the way
we want our assets managed if we should become sick or incapacitated
and are no longer able to manage them ourselves. Second, give ample
consider-ation to the way we want our health managed if we are not able
to manage ourselves. The following will discuss the types of legal
documents most frequently used.
Assest Management
1. Last
Will and Testament:
A Will is a document that directs how your property will be passed on
at the time of your death. It also designates a person to be
responsible for assembling the property, paying debts and taxes and
distributing what is left. Proper estate planning will enable you
reduce estate taxes and, thereby, pass more of your estate to your
loved ones. Should you die without a Will, your property will be passed
on as designated by the laws of intestacy, regardless of your wishes.
It is a good ides to make a Will, even if you have very little property
or possessions, to ensure that your things are passed on according to
your wishes.
2. General
Power of
Attorney: Authorizes an individual to make legal and financial
decisions when we can no longer make them ourselves.
3. Living
Trust: Living
Trust allows a person to create a trust and to appoint an individual as
a trustee to carefully invest and manage assets.
Health Management
4. Living
Will: This
document formalizes our wishes regarding the medical care that is to be
used or withheld should we become incapacitated or unable to make our
own health decisions. This may include the use of extreme measures such
as hydration, tube feeding, respiratory assistance and other life
support measures.
5. Health
Care Surrogate:
This document names the individual we select to make decisions for us
when we are no longer able to make them ourselves including health care
providers, medical treatment and end-of-life care.
6. Durable
Power of
Attorney for Health Care: Authorizes an individual to make health
decisions when we can no longer make them ourselves. Unlike a General
Power of Attorney, this document continues to be effective when a
person becomes incapacitated.
Conversations about end-of-life issues may not be
easy to start
Many of us may think we do not need to worry about these
issues.
We are all parents, adults, children, spouses or partners, siblings,
nieces, nephews, grandparents or grandchildren. No matter what our
role, we have responsibilities to our families, which is why advance
directives are so important. Take the time to communicate your choices
to your family or loved ones. It's easy to begin; just say, "Isn't it
time we talk about it?"
resources: Florida Department of Elder Affairs 850/414-2000
or elderaffairs.state.fl.us
(Request their booklet "Making Choices"); Florida Bar Legal Referral
Service 800.342.8011 or flabar.org