You may put off planning for incapacity because you're healthy and young. You might think it's something to worry about later when you're much older.
But if you don't plan for incapacity in Georgia, you and your family could face a wide range of problems down the road. Below, learn about the legal documents you need as part of your incapacity plan.
Georgia Durable Power of Attorney
With a durable power of attorney document, you can appoint someone to handle your financial and personal business affairs if you're unable to manage them on your own. This person can write checks, pay taxes, and hire a caregiver for you. They can also take care of legal issues and manage your personal business interests on your behalf. Having someone with this authority can eliminate the need to have a conservator appointed by the court, and therefore eliminate the costs and time delays associated with that process. Plus, it keeps you and your situation out of court and your affairs private.
Georgia Advance Directive for Healthcare
You're free to make your own medical decisions now, but what would happen if you lost capacity and could no longer act for yourself, whether because of dementia or unconsciousness or something else?
For many people, this can seem very frightening. You would have no say over your own medical care, which means other people and your doctors might make choices you wouldn't have liked.
An advance directive for healthcare grants power to another person to make those choices for you. You may feel better knowing that you have someone you trust who has legal authority to look out for you when you can't speak for yourself, and someone who will carry out your wishes.
The Georgia advance directive for healthcare combines the elements of a medical power of attorney and a living will. So, this document spells out your healthcare-related wishes, such as whether you'd want to continue life support or undergo CPR if you are facing certain end of life scenarios.
This healthcare planning through the directive eases the stress and burden on your loved ones. It spares them from needing to make tough choices without your input during what's likely a difficult and upsetting time.
With a trust, you can have a successor trustee manage your assets on your behalf. A trust allows you to spell out what they should do with those assets and who to distribute them to if you pass away. The trust is administered outside of the probate court process helping keep your matters private, and it avoids the delays and costs associated with probate with respect to the assets funded into the trust.
You can place nearly any kind of asset in a trust. This includes real estate, bank accounts, vehicles, investments, and life insurance policies.
Not sure which type of trust is right for you? Call an estate planning lawyer from Peach State Wills & Trusts to learn more about your options.
Contact Peach State Wills & Trusts if You Need Help Planning for Incapacity
You likely don't want to imagine what might happen if you become incapacitated and are unable to make choices for yourself. But this is a possibility that you need to plan for even if you're healthy now.
Don't put off incapacity planning until it's too late. Contact Peach State Wills & Trusts at (678) 344-5342 to learn how to plan for incapacity in Georgia today.
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