Estate Planning Documents – Is your family prepared?

One of the first priorities for our financial planning and wealth management clients is to have appropriate estate documents in place. While most people consider estate planning documents to be their Will and/or Trust, they also include necessary Power of Attorney designations, Medical Directives and HIPAA designations. The combination of these documents allows an individual to not only voice their preferences, but also gives others permission to carry out their wishes at times when they cannot speak for themselves.

In addition to having your estate documents in place, you should also make sure those around you have their documents in order. This includes adult children over the age of 18, parents/siblings/family members, and possibly even close friends if you would be the one to step in and help during a time of need.

If someone you loved was sick/injured, would you be the one responsible for making decisions? Do you know what their preferences would be? Would access to the necessary medical information or access to their medical provider for updates on their care/treatment be limited due to HIPAA laws? Would you be able to support and help them in the capacity they want?

With the current pandemic and health concerns surrounding COVID-19 it becomes even more important to make sure that those you love have the documents they need in place, especially if you would be the person responsible for implementing their wishes or coordinating their care.

Please give us a call if you want to discuss your estate plan, have questions, or just need to know where to start.

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