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Incapacity Planning: The Other Part of Estate Planning
Why You Need to Worry About Incapacity Planning
Incapacity can happen at any age and can have many causes. An estate plan that addresses only what happens to your assets (such as your money, property, life insurance policies, and retirement accounts) after death - and does not address who can make decisions about your personal affairs if you become temporarily or permanently incapacitated - is fundamentally flawed. Read more to ensure your plan includes incapacity as well.
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Whom Do You Trust to Make Your Financial Decisions?
You may take for granted that you are able to manage your finances. However, what if you become incapacitated? Someone else will have to manage your finances for you if you cannot. Read more to understand how to update your estate plan to name a substitute decision-maker to act in your stead, you have control over who that someone is.
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Whom Do You Trust to Make Your Medical Decisions?
You may have estate planning documents that allow someone else to manage your finances during a period of incapacity. But have you also appointed someone to step in and manage your medical care when you cannot make decisions or communicate your preferences on your own? Read more to make sure you have certain documents that allow you to control your future medical treatment in the event that you become incapacitated.
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MEREDITH | PC
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Flower Mound Texas 75028
214-513-1013
This newsletter is for informational purposes only and is not intended to be construed as written advice about a Federal tax matter. Readers should consult with their own professional advisors to evaluate or pursue tax, accounting, financial, or legal planning strategies.
You have received this newsletter because I believe you will find its content valuable. Please feel free to Contact Me if you have any questions about this or any matters relating to estate planning.