If you suddenly have a medical emergency, you might have the immediate need for estate planning. An emergency can help you focus on the important things in life, but also make you realize that you are not prepared. An estate plan can get your affairs in order and give you more peace of mind.
First Steps After a Medical Emergency
As you sit in a hospital bed or return home after a scary medical emergency, you might be thinking about what went wrong. Maybe the hospital wouldn’t let your partner in your room, or your business lost money because you were unreachable. Or maybe you began to worry about your future and providing for family.
If there is any risk that you will return to the hospital soon, you might want to sign a power of attorney or advance directive right away. These documents allow other people of your choice to make decisions for you if you are incapacitated. For example, an advance directive could help an unmarried partner gain access to your hospital room and make medical decisions for you. A power of attorney for finances could help a trusted employee make business decisions while you cannot, to keep money coming in the door.
You can complete and sign powers of attorney or advance directives very quickly, especially with the help of an estate planning lawyer. Give a local lawyer a call now to protect yourself, your family, and your business during possible future emergencies.
Estate Planning for the Long Term
In addition to immediate practical problems, a medical emergency may force you to think about future issues as well. For example, you may realize that you do not have a will or any other estate planning in place. Your children, spouse, partner, or other relatives could be left without financial resources. Or someone might inherit contrary to your wishes.
To solve this stressful problem, get important estate planning documents in place now. You may want to sign a will, purchase life insurance, make beneficiary designations on retirement accounts, and more. Do keep in mind that some life insurance companies reject people with significant medical problems. But you could qualify for some policies or have other options such as disability insurance.
When it comes time to set up the estate plan, definitely speak to a lawyer rather than looking for free forms. You might have a complicated family situation or face potential tax issues that free forms will not address. Plus, a lawyer can determine the best plan for you that will cover your wishes and needs.
Planning your estate? Look to Janet Brewer, Esq. for thorough and thoughtful estate planning advice. Janet’s more than 20 years of legal experience will give you confidence and peace of mind. To schedule a “Get Acquainted” meeting, visit Janet's website or call her office at (650) 469-8206.
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