Estate plans can contain many different documents. Frequently, wills are the main documents people draft to protect themselves and their loved ones. They can supplement their foundational testamentary instrument with an assortment of other documents as well. Some testators established trusts. People may also want to consider the possibility of future medical emergencies when creating or reviewing an estate plan.
Advance directives can also be important additions to estate plans. What benefits do advance directives offer people thinking about the possibility of future medical emergencies?
Access to support
Spouses often have the authority to make medical decisions or handle financial matters in an emergency, but not everyone has a spouse. Even those who do are at risk of their spouses experiencing an emergency at the same time, possibly because of a house fire or a car crash.
Powers of attorney are critical advance directives. They allow testators to select a trusted individual to act as their health care agent. The selected person can make decisions about an individual’s care.
Many people also establish financial powers of attorney to ensure that they don’t experience economic challenges because of a medical emergency. They can authorize someone they trust to pay their bills, manage their resources and even run their small business if necessary.
Clarity regarding wishes
Advance directives often include living wills. These documents describe an individual’s medical preferences. People can talk about their wishes regarding pain management and life support. They can even provide guidance for their agent or family members regarding anatomical donations.
There is also the risk of loved ones struggling to recall critical information in a stressful position. Those who take the time to clarify their wishes can protect their family members from a lifetime of second-guessing and guilt if they have to make medical decisions in an emergency scenario.
Particularly when people have strong wishes regarding medical support, creating an advance directive explaining those preferences can be an important step. Proper advance directives take pressure off of family members and help ensure that an individual receives the kind of support and care they require in an emergency.
Expanding an estate plan to include advanced directives can give people protection in tough scenarios. Those creating or reviewing their estate plans may want to discuss the possibility of drafting additional documents, and this is just one reason why.