What Happens to you When you are in the Hospital?
Have you ever considered what will happen if you are hospitalized for an extended period of time? Who will manage your finances? Will the electricity bill at home be paid? If I am unable to, who will make decisions about how I am treated? By engaging in incapacity planning, you can be prepared at any moment to handle a difficult situation. Incapacity means that you are unable to make decisions for yourself. Only having a Will and/or Trust will not help. You must have critical documents in place in order to avoid having your family go to court to have a Conservator appointed, which can be very expensive, time consuming, and embarrassing, as loved ones may argue about who will be in charge.
Financial Power of Attorney
A Financial Power of Attorney, sometimes referred to as a Durable Power of Attorney, is an important tool that will allow you to give an individual the ability to manage and make decisions regarding your financial assets and property while you are unable to. Placing someone in charge of your financial matters while you are incapacitated will ensure that bills will continue to be paid and that nothing will fall through the cracks.
Healthcare Power of Attorney
A Healthcare Power of Attorney gives someone you appoint the ability to make decisions about what treatment you receive and how you will be treated if you are unable to do so. This can be very important in times where immediate action needs to be taken. It will also provide you with the necessary comfort knowing someone you trust will be in control of your healthcare.
Under Federal and State Laws, medical information can only be provided to individuals when you, the patient, has provided written consent. This written document gives medical professionals and healthcare providers the authority to share this critical information with your loved ones.
There may come a time when you are in the unfortunate position of being in an unrecoverable state. By having a Living Will in place, you are able to decide how much and what kid of treatment you would like in your final moments.
Contact Aaron Cohen Law today to discuss these very important considerations.