Thursday, June 25, 2020

4 Things to Know About Incapacity Planning

College plans. Retirement plans. Estate plans. At every corner, it seems like there is something to plan. For most, planning ahead for life’s changes offers security that we are taking care of ourselves and our loved ones through advanced preparation.

But what about incapacity? Have you ever considered that at some point, you may be unable to make decisions for yourself due to a mental or physical disability?

As any experienced Texas incapacity planning attorney will tell you, a comprehensive incapacity plan ensures that your medical and financial affairs are handled according to your wishes, and by people of your choosing, in the event you are incapacitated.

Let’s Examine Four Things to Know About Incapacity Planning in Texas

  1. Texas law encourages estate and advance care planning to ensure that an individual's wishes are carried out in the event they are incapacitated.

    While the state offers standardized forms available for your use, no two individuals are the same. Working with a seasoned Texan estate planning lawyer is vital to the proper management of your particular estate and family dynamics.

  3. Incapacity plans detail how and by whom your medical and financial affairs are to be handled if you are physically or mentally unable to manage them yourself.

    Without an incapacity plan, a Texas court will make decisions about your medical care and finances, including who has authority to oversee these matters. Depending on who is appointed by the court, your best interests may not be served.

  5. Several documents should comprise a Texas incapacity plan:
    • Medical Power of Attorney: designates someone to make medical decisions for you when you are unable to make them for yourself.
    • HIPPA Authorization: designates someone to access your health information to be informed about your care.
    • Advanced Directives: specifies mental health treatment, life-prolonging measures, and do-not-resuscitate orders.
    • Durable Power of Attorney: designates someone to oversee your personal and financial affairs and make decisions for your while you are unable to do so.
    • Living Trust: an arrangement transferring all of your property into a trust and appointing a person to act as trustee, assisting in the management of your affairs while you are living, and distributing your estate upon your death. A living trust also allows you to detail life-saving measures if you become critically injured or fall terminally ill.

    Your estate planning lawyer will advise you regarding these documents and likely recommend incorporating them under the umbrella of a fully developed estate plan.

  7. Incapacity Planning is complicated, and you need the help of an experienced Texas estate planning lawyer.

    When rendered unable to speak for yourself or make decisions due to injury or illness, you need to know that your interests are being carried out. A qualified estate planning attorney is essential to ensuring that all of the necessary documents and designations are in place to support you and your family during your incapacity.

Contact a Texas Estate Planning Lawyer Today

Take protective measures for yourself and your family. Establish an incapacity plan while you are of sound mind and body, and eliminate confusion regarding your preferences when you are unable to communicate for yourself.

Contact the Law Office of Carey Thompson and schedule a consultation to learn more about incapacity planning and what you need to do to protect yourself and your loved ones.

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