Overcoming Incapacity

The best-laid plans of mice and men often go awry. - Robert Burns, translated from his Scottish poem

Things seldom turn out exactly as we'd like. For example, if you think about death at all, you may imagine yourself dying a quick and painless death, surrounded by loved ones, after achieving a long, fruitful, and rewarding life. But if this is your plan, you run the risk that your plan will "go awry, and leave you nothing but grief and pain, for promised joy."

The reality is that your death may take many forms. If you are fortunate, it may occur exactly as described above. Nevertheless, a little pre-planning can ease the grief and pain if things, in fact, go awry.

For this reason, part of the estate planning process involves taking control over some of the important decisions that may need to be made if you become incapacitated. It may seem like it's stating the obvious, but it is hard to handle financial matters and make medical decisions when you are in a coma, or paralyzed due to a stroke, or incoherent because of Alzheimer's disease or a head injury. Through some easy to use estate planning tools, you are able to act now while you are of sound mind and body.

A durable power of attorney is a written authorization to act on another person's behalf in case of that person's incapacity. You can give such a written authorization to someone you trust today for use in the event you later become incapacitated. It allows the holder of the power to sign documents and otherwise control your assets and affairs while you are unable to do it yourself. This is very helpful, for example, when money or assets must be accessed to pay your medical bills and provide needed day-to-day financial support for your family. Remember, though, that such a power should not be given away lightly, and should be given only to someone who you trust deeply.

For medical decisions, there is the health care power of attorney. This operates like the durable power of attorney, except this power relates only to making health care and medical decisions on behalf of a person who is incapacitated and, thus, unable to make or communicate decisions of his or her own. Some states also allow a related legal document, known as a "living will," or "advance health care directive," that specifies what "end of life" measures you want your physicians to take. For example, you may specify that you do not want to be kept alive on life support when there is no hope of recovery.

Planning Tools To help you identify the choices you may want to make today in order to manage choices that may have to be made in the future regarding your health and finances in the event you become incapacitated, take a look at these Statutory Power of Attorney and Medical Treatment forms. These state-approved forms can help you determine your specific financial, health and estate planning needs.