Health Care Directives: A Vital Part of Estate Planning
In the event you are unable to communicate healthcare choices, having effective estate planning and health care directives will minimize the stress on your family during an unexpected health crisis and ensure you are cared for according to your wishes.
Our free estate planning seminars cover the basics of estate planning and health care directives for residents in the Asheville communities and surrounding areas. You’ll hear from the expert estate planners at Craig Associates, PC, to ensure no part of your estate plan is overlooked.
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- Glossary
Why choose us?
Don’t take our word for it, here’s what actual clients in your community have to say:
We needed some Estate Planning and a new Will and I personally went through reviews in our area and found Craig Associates. We now have a will and our wishes for end of life decisions in order. I feel relieved that we have made decisions that our children won’t have to deal with and they know our wishes for health care. Everyone was friendly, knowledgeable and related information in a format that was easy for us to understand.
Judy O. | Asheville, NC
Legalese for estate planning and health care directives.
Property: Tangible and intangible assets owned by an individual; significant in estate planning as it forms the estate that will be distributed according to the person’s wishes.
Safe Deposit Box: A secured container often used to store important legal documents and valuables, including those related to estate planning and health care directives.
Medical Professionals: Health care providers provide insight as part of estate planning and health care directives to ensure that the individual’s medical wishes are carried out.
Legal Document: A formally drafted document, such as a will or health care directive, that carries legal significance in the estate planning process.
Beneficiary: A person or entity designated to receive assets or benefits from an estate, insurance policy, or trust, related to estate planning and health care directives.
Incapacity: The inability to make or communicate decisions, often leading to the activation of estate planning and health care directives.
Tax: Financial charges imposed by the government, affecting estate planning and health care directives.
Physician: A medical professional who may play a role in determining incapacity as laid out in estate planning and health care directives.
Inter Vivos Trust: Also known as a living trust, this allows property to be transferred outside of probate during one’s lifetime, important in comprehensive estate planning and health care directives.
Revocable Living Trust: A type of trust that can be altered or canceled by the grantor during their lifetime; often used in estate planning and health care directives.
Irrevocable Trust: A trust that cannot be altered or revoked without consent from the beneficiary, often used in estate planning and health care directives to reduce estate taxes or protect assets.
Probate Lawyer: A legal professional specializing in the probate process, assisting with estate distribution and the execution of wills, an essential part of estate planning and health care directives.
Estate Planning and Health Care Directives
Estate planning is a comprehensive process that involves drafting a number of estate planning documents, including:
- Wills: A will names your heirs and beneficiaries, specifies how your assets are distributed after your death, and appoints an estate administrator.
- Trusts: A trust (Revocable or Irrevocable) can be managed during your lifetime, help protect and manage your assets after you pass away, reduce taxes, and distribute your assets while avoiding the probate process.
- Powers of attorney (POAs): A Power of attorney (POA) allows someone of your choosing to make decisions on your behalf if you are incapacitated.
One of the crucial elements people commonly overlook is health care directives, also known as advance directives. These are legal documents that allow individuals to specify their decisions about medical treatments in a situation where they might be unable to do so themselves, such as a severe illness, coma, dementia, or trauma.
Benefits of Estate Planning and Health Care Directives
Estate planning and health care directives give you control over your medical decisions, which is particularly crucial when dealing with end-of-life decisions.
It brings clarity and reduces confusion among family members and medical practitioners since you’ve accounted for this type of situation. Estate planning and health care directives ensure everyone involved is aware of your healthcare preferences and safeguard your health decisions.
Types of Health Care Directives
Estate planning and health care directives use different approaches based on your unique needs and goals.
Living Wills
A living will is a directive that states your wishes concerning medical treatments at the end of your life and goes into effect only if you are terminally ill or permanently unconscious and unable to make your own medical decisions.
Durable Powers of Attorney
A durable power of attorney for health care (DPOAHC), or a health care proxy, allows you to appoint someone you trust to make your health care decisions for you if you are unable to do so.
Do Not Resuscitate (DNR) Orders
A DNR is a request not to have cardiopulmonary resuscitation if your heart stops or if you stop breathing.
Organ and Tissue Donation
Estate planning and health care directives allow you to specify your wishes regarding organ and tissue donation for end-of-life planning.
How State Laws Impact Estate Planning and Health Care Directives
State laws greatly influence the recognition and treatment of health care directives and may require the presence of witnesses or a notary during the signing of the directives, while others may have particular stipulations about what the directive must or must not include.
It is always advisable to consult an estate planning attorney with experience in elder law or health law to assist in understanding the requirements of estate planning and health care directives in your state.
Discuss Your Options With Your Healthcare Provider
Open and clear communication with health care providers will help you understand potential future situations specific to your health status and the range of interventions available to you, from life-sustaining treatments and surgeries to the use of medications.
Your health provider can also verify that your healthcare directive is effective and actionable; however, keep in mind that medical situations change, and so do treatment options. Your beliefs and preferences might change over time as well.
Role of Legal Professionals Estate Planning and Health Care Directives
Professional estate planners offer invaluable guidance when drafting legal documents and are adept at navigating the legal complexities and potential pitfalls, thus offering much-needed peace of mind that your affairs are in order.
Many people understand the importance of both estate planning and establishing health care directives. However, individuals can make critical errors when they try to combine these two processes without the help of a knowledgeable estate planner, such as:
- Overlapping or contradictory directives. Your estate plan may outline your desire for certain medical treatments or end-of-life care measures, while your health care directive may state something entirely different. Contradictions in estate planning and health care directives can lead to confusion or misinterpretation among your family members, healthcare professionals, or estate executors.
- Failing to update estate planning and health care directives simultaneously. People’s wishes regarding end-of-life care, healthcare decisions, or beneficiaries often change over time due to varying factors such as shifts in relationships, financial changes, or evolving views on health care decisions. If you alter one document but neglect to also update the other, this may bring up issues when it comes time for these documents to be implemented, and your wishes could ultimately be misinterpreted or disregarded.
- Not clearly defining roles and responsibilities. You should clearly define who will act as the executor or trustee of your estate planning and health care directives. The person you select for these roles should be trustworthy, capable, and willing to act on your behalf to avoid miscommunication or disagreements among family members or other involved parties.
Professional attorney services for estate planning and health care directives provide great peace of mind for both you and your family, knowing that all future contingencies have been carefully considered and properly planned for.
Estate Planning and Health Care Directives FAQs
Does estate planning only relate to financial wealth?
No, estate planning also includes provisions for health care directives, guardianship of minor children, business continuity plans, and instructions for physical belongings and other considerations.
Are health care directives and living wills the same?
No. While both deal with an individual’s wishes regarding medical treatment, a health care directive is more comprehensive, typically including an appointed health care agent and clear instructions on a broader range of treatments in estate planning and health care directives.
How often should I review and update my estate planning and healthcare directives?
Reviewing and updating estate planning and health care directives should be considered every few years or whenever significant life changes occur (marriage, divorce, the birth of a child, the acquisition of substantial assets, or diagnosis of a life-threatening illness).
Learn More About Estate Planning and Health Care Directives
Being unable to express yourself is a nightmare we all want to avoid; let the professionals at Craig Associates, PC help you and your family sleep a little easier, knowing that your estate planning and health care directives are legally sound and have your best interests accounted for. Call our office at (828) 258-2888 for an initial case evaluation, contact us using the form below, or register for an upcoming estate planning seminar.
