Estate planning is sometimes a difficult topic to think about. It makes us not only take an inventory of the fruits of our life's labors, but to also consider our own mortality.
Who Will Make Health Care Decisions On Your Behalf?
A Health Care Directive is a document that directs medical treatment and medications you would want to receive when you become disabled and cannot express your own wishes.
A Crucial Part Of An Estate Plan
One of the most important pieces of a person's estate plan is the Health Care Directive. Simply put, the Health Care Directive (or HCD for short), spells out how a person wants to be cared for when they become disabled. I say when they become disabled, because people are six times more likely to become disabled than die in a given year. We will all be disabled at one point; it could be the last 20 minutes of our life or the last 20 years.
Taking Care of Our Mothers
Many of us have elderly parents and grandparents who we care for. While it may be sending packages or phone calls from across the USA, or stopping by every day at lunch to check on them, we value our elderly mothers and grandmothers. It's no surprise that when we discover that our mother is not taking her medication, we can feel upset or helpless in this situation.
Caring For Our Elderly Parents
Taking care of an elderly parent or grandparent is something that many of us deal with on a frequent basis. As Americans live longer, this is becoming more and more common. Dealing with our parent's care can be very emotional and difficult when problems arise.
Protecting Our Loved Ones
It's no secret that as we age, more and more of us are going to require someone else to make decisions for us at some stage of our lives. Our needs will change and we will become more dependent on others for our health and well-being. In fact, many of us are facing this issue now, as our elderly parents and grandparents grow older. Mom or Dad or Grandma may be dealing with an illness, such as Alzheimer's disease, or injury, such as a broken hip, that may require the care or supervision from a trustworthy family member.
An Important Estate Planning Document
One of the most important estate planning documents is your Living Will. A Living Will directs what medical treatment and medications you should receive when you become disabled and cannot express your own wishes. Living Wills are designed to protect you and your family.
About 70% of People Never Complete Their Estate Plans
Did you know that about 70% of people never complete their estate plans in their lifetimes? This can work fine for some straight couples because Minnesota estate planning laws presume to leave the inheritance to their spouses, children, parents or siblings. For most gay and lesbian couples, however, this legal standard is often totally opposite of what they want.
Senior Woman Meets New Man
Elizabeth is a senior woman. She is a very independent person and has been diligent in saving money throughout her entire life. Her husband Albert died five years ago. After his passing, Elizabeth was very lonely until she met Ronald, whose wife Audrey died three years ago.