Without valid legal documents, you leave the decision to the representation, guardianship or conservation laws of your state. And the representatives that can be appointed by a court may not be who you want them to be. Appointing your representatives while you are healthy prevents this undesirable outcome and puts you in control of your affairs even when you are unable to speak for yourself. These tips will help you make decisions about who the right representatives are to best serve your interests in life and beyond.
How far should you plan?
Even if you are young and healthy today, plan as if you need medical care tomorrow. Tragedy does not discriminate and the unexpected can happen. While this is a scary thought for many, it can also be helpful when preparing your legal documents. Here's why: when choosing your future representatives, you don't have to think about who they should be in five, 10, or 20 years. My clients say things like, "My brother is a good fit today, but 10 years from now he will be too old to care for others." My answer is always, "If today is a good choice, your answer is yours." Ten years is a long way. ""
So choose your representatives based on the current circumstances and not how you think it will happen later. Your documents can and should be updated throughout their useful life.
Types of representatives
Your succession plan can include the following roles. Terminology and skill factors vary from state to state. Therefore, consult an attorney in your state of residence with any questions about these roles and the estate planning documents that are right for you.
Health officer / deputy
Your health care attorney (or substitute) can get your information from your health care providers and make medical decisions for you when you are unable to do so.
This person is likely your caregiver. He will be by your side at the hospital, speaking to your doctors and giving you consent or refusing treatment. This can include life and death decisions. Your healthcare representative should be your greatest advocate . he or she should act in your best interests, not theirs. You may be asked to share information and communicate with your other loved ones who want details about your care. This is where family conflicts usually arise: Your surrogate will be disturbed and may have to deal with unsolicited opinions and disagreements.
This job requires a balance between empathy and tenacity. As a helper I had to be a super squeaky wheel to get a doctor's attention ("Let's not wait until the oncologist doesn't give you more than five minutes of your time and answer all of our questions!"). I had to tell my family members to vent if they question our chosen care plan ("Yes, we offer palliative care to help manage pain! No, that doesn't mean we give up and let mom die!" ). I've relied on the old adage that you can't always please everyone, and my goal has been to provide the best possible care and as little family stress as possible to the person who serves me.
Your substitute should also be able to take on the role of caregiver. If the person lives outside the state, if so, can they visit them? If the surrogate mother has her own physical or mental handicap, can professionals be employed to help her with caring tasks that she cannot perform? Will the caregiver or agent have difficulty meeting critical care requirements? Most importantly, remember that help can be hired and your deputy can act remotely if necessary. Most importantly, your surrogate mother is ready, willing, and able to serve.
Lawyer indeed
Your lawyer (also known as your lawyer) is given a power of attorney. He or she can only act on your behalf so long as you are alive and have authority to make decisions on your behalf relating to your financial and legal affairs. The officer may be empowered to act on your behalf even if he is still healthy, or he may not be empowered to act on your behalf until it is demonstrated that he is incapable of acting.
When your agent starts, the role depends on the type of proxy you have created. Authorization can be limited to specific tasks or contain anything that you would do yourself.
It's fair to say that your agent has a tremendous amount of power. It is for this reason that the law prescribes a "fiduciary standard" for your agent. So if you are not acting in your best interests, you could face civil or criminal liability. This means that the agent can be prosecuted or even charged with a crime for not handling their affairs properly.
Reliability and a willingness to learn and seek help when necessary are hallmarks of an effective drug. Your agent needs to be well organized and able to keep good records . This is important as the agent may have the option to spend your money or make changes to your financial planning. Good records protect him and keep him from conflicting with the law.
Your attorney needs to understand the scope of what the Power of Attorney gives you and nothing that the Power of Attorney does not do. Most importantly, your agent needs to understand when to seek advice from professionals such as certified financial planners or accountants. Your agent doesn't have to do it alone. We encourage anyone who starts providing care and using a proxy to reach out to professionals who will help them do their jobs as successfully as possible.
Executor and Trustee
Your executor is responsible for managing your estate after your death . This means taking an inventory of your estate, using an attorney's services, paying your creditors, preparing your final taxes, and distributing the assets to your beneficiaries.
Depending on the type of trust you have created, your trustee may act on your behalf during your life or after your death (or both). The trustee has the power to control your assets under the terms that you have established in your trust.
For both roles, find someone who is good with money. Perseverance and efficiency are also positive qualities. The executor and trustee, like your attorney, are bound by a fiduciary standard. Lazy trustees are frowned upon by the courts. So if the executor is not doing business or moving forward in probate proceedings, the judge will ask for an explanation. And if a trustee does not follow the trust's terms, the trust's beneficiaries demand answers.
That's not to say that your executor or trustee needs an MBA to perform any service. Remember, you have lawyers and counselors to guide you. Most importantly, your executor and trustee are trustworthy, trustworthy, and up to the task.
Consideration of your options
You don't have to name the same person to manage your health care and money. Perhaps one of your children is efficient and an expert in bookkeeping. The other can have a nursing background and be a good communicator. In this case, wouldn't it be better to leave one of your medical needs and the other in financial management?
And you don't have to name a family member at all. I was recently cleaning my files in the spring and came across a relative's old estate planning documents. She had appointed me her deputy and enforcer in the health service. I remembered she did this but forgot that she did not appoint her next of kin to serve when she got sick or died. Instead, he called a friend. Makes sense; The friend had a medical history and my relative had taken care of the friend for the past several years due to cancer. The friend had his life story and the persistence to be a top notch caregiver. As in my parents' papers, if you have a friend who is qualified and willing to get the job done then name him.
Sometimes people ask what to do when they don't have a good choice in their circle of friends or family, or when they don't have a circle of friends or family. Choosing a neutral professional is a good alternative. You can hire lawyers, attorneys or accountants, financial institutions, or trust organizations to fill these positions. The advantage here is that these companies play a fiduciary role with a high degree of professionalism and competence. While it can cost more, it ensures that your interests are protected and your desires are respected. And it can prevent family tragedies and potential litigation in more controversial families.
Don't worry about hurt feelings
My clients often say, "Can't I name my two children as proxies (or executors, proxies or trustees)?" I don't want to hurt anyone.
My answer is that although the law allows you to appoint co-representatives in your legal documents, you may not be satisfied with the practical outcome. If your fellow officials disagree or don't work well together, you can expect lawsuits, court battles, and broken families. During this time, you are not receiving the best care you deserve. If you feel the co-representatives cannot work together, appoint a director and a deputy if the director cannot do the job. If you choose to appoint co-representatives, you may not want to appoint more than two co-representatives at a time. While it can be nice to have odd numbers to help you untie, too many cooks in the kitchen almost always spoil the soup.
The best way to avoid injury is to talk to loved ones. This can be done in person or in a letter of instruction. Tell your family what you want if they need care in the future. Tell them who is responsible and why. While this comes as no surprise in the middle of a family crisis, your care will be smooth and your loved ones are more likely to work together rather than making life difficult for your legal guardians.
Leave a roadmap
If you lose the ability to be completely independent, talk about the way you would like to live. Talk to your potential supervisors and representatives. The roles you assign to them carry a great deal of responsibility. The transparent conversation or the instructions about your finances and wishes are your roadmap and relieve your caregiver. What you share with them today will make life easier for you and your life tomorrow and offers security for everyone involved.
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