Deciding to appoint someone to handle important personal matters is a step in the right direction. Of course, even if California residents want to appoint power of attorney agents, they may feel uncertain about the best way to go about doing so. Additionally, they may wonder whether they can put more than one person in charge of different accounts.
An unexpected illness or injury could easily leave anyone in a difficult situation. In some cases, health conditions can leave a person unable to express his or her wishes for care, and someone else must do so. The idea of leaving these decisions in the hands of another can certainly seem scary, but fortunately, California residents can create health care directives for this purpose.
When creating an estate plan, California residents will need to appoint trusted people to various roles. One important role to consider is who to appoint as a financial power of attorney agent. However, this is not the only finance-related role that individuals need to fill when planning ahead.
In many cases, it is a good idea for California residents to have someone who can make decisions for them and act on their behalf when they are not available. Fortunately, power of attorney documents can help interested individuals appoint a trusted person to such a role. However, different types and powers exist, so it is wise to understand available options.
Most people in California know that estate planning is useful for leaving inheritances for heirs, but this is only a small part of a much larger picture. A well-rounded estate plan should also include a living will and power of attorney. These two documents allow an individual to address things like end-of-life issues, including preferences for medical care and who will make those decisions if necessary.
The year 2019 is coming to an end and many Californians are anticipating the beginning of a new year. Thoughts often turn to one's legacy, which can lead to thoughts concerning estate planning and providing for the next generation. The importance of having a comprehensive estate plan in place is becoming more widely recognized. But what documents comprise a comprehensive estate plan? Health care directives may be among the most important.
The California population is aging and many seniors live alone. A sad medical statistic reveals that many of these people may be in danger of having their financial affairs taken over by a stranger. People over 50 are at an increased risk of falls that can result in broken hips. One in three of those people will become incapacitated and die within 12 months of the fall. Failure to designate a power of attorney or create a health care directive can result in someone unknown to the individual making medical and financial decisions.
A term that is bandied about in the estate planning community refers to medical directives. They have become a popular component of comprehensive estate plans in California but there are different types of documents that address different issues. Two examples of health care directives are a living will and a DNR, a "do-not-resuscitate" order.
People frequently know the expiration dates on food in the refrigerator, a driver's license, medication and even a passport. One expiration date no one can know, in California or anywhere, is one's own. Coy Luther Perry III, better known as Luke Perry, the actor, died March 9 after suffering two strokes. He was just 52 years old. He had had a cancer scare in 2015 and established an estate plan at that time, most likely including a medical power of attorney.
People are living longer in California and in many cases they are remaining healthy well into their later years. Eventually, age will catch up with a person and one's health can begin to fail. Health care directives can specify to one's family exactly what one's desires and directives are regarding end-of-life care or care if one becomes incapacitated.