One of the biggest risks for most people is not death, it is becoming incapacitated. Incapacity means you are unable to make decisions for yourself. If you suffer from an injury, dementia, stroke, heart attack, etc., you may become temporarily or permanently incapacitated.
When you become incapacitated who is going to manage your financial affairs and make medical decisions for you? If you are unable to make medical decisions for yourself or communicate your own healthcare wishes due to an incapacity, and you want to have control over these decisions, then you need to have four critical documents in place to ensure you get the care you deserve, and that your finances can be handled by the person you choose:
Every Adult Needs These, Including Your College Bound Children.
Health Care Power of Attorney or Health Care Proxy
The Health Care Power of Attorney allows you to name someone to make medical decisions for you when you are unable to make them for yourself.
Living Will or Advanced Medical Directive
The Living Will expresses your wishes when you are unable to do so and is used in helping to guide your health care agent or other family members that may be responsible for making your healthcare decisions when speaking with medical providers.
HIPAA Authorization
This Authorization gives your medical providers the written permission to share your medical information with the individuals that you have named.
Durable Power of Attorney (POA)
With a Durable Power of Attorney, you get to decide who will manage your financial affairs on your behalf in the event you are incapacitated. Without proper planning, the court will decide this for you.