Proactive financial paperwork is an exercise to complete. But discussing healthcare before a crisis arises is key to the dignity of life.
On the bottom of most of our “to do” lists are these documents:
- Estate Will
- Living Will
- Power of Attorney
While this paperwork is difficult to prioritize, it’s incredibly important that these documents are placed at the top of your “to do” list. This will ensure that your wishes will be fulfilled should a major incident occur.
A lawyer will be able to draw up all of the necessary paperwork and walk you through the process. You will determine the healthcare administered, the property dispersement and your Power of Attorney, and have it all documented. These documents will then be submitted to doctors, lawyers, probate courts, and family.
If hiring a lawyer isn’t an option for you, your local hospital has forms available to work through yourself.
Here is a rundown and brief description of the financial paperwork you can proactively draw up:
- Estate Will: With this document you will determine the dispersement of your property.
- Living Will: This is documentation of end-of-life wishes. You will note whether you desire resuscitation or to let nature take its course. Emergency personnel will attempt resuscitation if a Living Will is not evident.
- Power of Attorney: The person you appoint as your Power of Attorney will have access to your financial accounts and real estate. You must name the Power of Attorney while you have competency. Once deemed incompetent, Power of Attorney cannot be created.
Proactively completing this paperwork may not sound like a whole lot of fun, but it’ll save a lot of headaches and heartaches in the future. For your own sake, and for the sake of your loved ones, check these documents off of your “to-do” list as soon as possible.
For caregivers, this article – Financial Paperwork – has excellent information to encourage your loved one to complete this paperwork, and gives advice on how you can help.