Four Key Planning Documents Every Adult Needs
What happens when you need something done, but aren’t able to convey your wishes? That’s when advanced legal planning becomes important.
There are four legal documents every adult should have:
a will;
a Durable Power of Attorney;
an Advance Health Care Directive; and
a Health Insurance Portability and Accountability Act (HIPAA) Release
Together, they put your wishes into writing and authorize agents, chosen by you, to act on your behalf when needed.
Will
A will is a legal document that specifies what you want to happen to your assets when you die. In it, you can choose who will receive what, and who will oversee the distribution. If you are a parent of a minor, you can also specify who will care for them in the event of your death. Without a will, such decisions are made according to the state’s default laws, not by you.
Durable Power of Attorney
A Durable Power of Attorney (DPA) allows you to grant someone else legal permission to make personal and financial decisions on your behalf. You maintain control over your own personal and financial affairs, can specify what your agent can and can’t do on your behalf, and can change or revoke the DPA at any time.
Advance Health Care Directive
An Advance Health Care Directive (AHCD) allows you to decide what end-of-life treatment you will receive and choose someone to make medical decisions on your behalf if you’re unable to. It’s essentially a backup to ensure your wishes are kept if you become incapable of making decisions yourself. Without an Advance Health Care Directive, your loved ones may have to go to court and be granted guardianship rights in order to make these decisions.
HIPAA Release
The HIPAA Release allows individuals, chosen by you, to communicate with medical professionals treating you. Without one, HIPAA prevents clinicians from disclosing your medical information unless they decide you lack capacity and that disclosure is in your best interest. Your HIPAA Release can specify what information health professionals are authorized to disclose to the named individual(s).
There are a number of ways you can prepare and file these forms. However, it is strongly recommended you contact a lawyer to help you with the process. While often more expensive, a lawyer with expertise in these documents can ensure they are customized to your specific needs and wishes, and ensure that they are filed properly.
Don’t leave your life to chance, call today and schedule a consultation.
