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Estate planning: Have you prepared for incapacitation?

On Behalf of | Mar 5, 2023 | Estate Planning

Life is very unpredictable, and things happen when you least expect them. You may be out there minding your business only to have an accident, resulting in incapacitation. With limited physical or mental abilities, it may be impossible to manage your affairs.

Therefore, you should anticipate and prepare for such unforeseen possibilities when making your estate plan. By taking the necessary steps now when you are well, you can be better assured that everything will remain on track when the unexpected happens. Below are some tips.

Ensure that your estate plan is current

There is only so much you can do to alter your estate plan if you are physically or mentally incapacitated. For instance, you cannot execute or amend a will when you are mentally impaired. That’s why it’s important to regularly update your estate plan should the unexpected happen.

Choose someone to manage your affairs

It is advisable to appoint someone to make decisions for you in the event of incapacitation. You can do this by using a power of attorney document. It allows you to give legal authorization to another individual to act on your behalf and represent you when you are incapacitated.

The person you appoint will manage all your affairs until you get back on your feet, and they are legally obligated to always act in your best interests.

Seek legal counsel

Planning for incapacitation is one of those things that you should not put off. If you have any questions or are unsure of what’s needed to get started, reach out for informed guidance. Understanding your options and how everything works will help protect your interests when you need to rely on others.