Planning for the Worst
There are some things in life we just don’t want to think about. Who will care for our children if something were to happen? Who do I want making medical decisions for me if I can’t make them for myself? What if I am unable to make decisions for myself? How organized are my affairs in case something tragic were to happen?
We don’t want to think about these questions and we certainly don’t like talking about them. Fortunately, there are legal instruments that, with a little planning, can address these difficult topics with strategic solutions. Here are a few examples:
I. Power of Attorney: The law allows you to delegate the power of decision making and allow others to act on your behalf. We call it a power of attorney. You can delegate financial decisions, property management, and care of our most important affairs.
II. Heath Care Power of Attorney: You can also delegate health care decisions and provide access to health care information that would otherwise be confidential.
III. Wills and Trusts: Wills and trusts are legal documents that articulate how your property and estate will transfer to someone else at the time of your death. You can also include language about who you want to care for your children in the event of your death. Trusts allow you to financially care for someone long-term, while providing someone the ability to oversee that financial care. It’s important to remember to periodically update your will if you have a life event, such as a marriage or divorce, the birth of a new child, or the acquisition of significant property.
Serious decisions, with some thought and difficult conversations, can ensure that future life events might be more easily addressed when the time comes. We are ready to help you find answers to those questions we often don’t want to think about. The Borghardt Law Firm is ready to assist you.