Episode 20: Planning for Incapacity (with Jonah Bamel and Greg Volk)
Estate planning should involve more than simply creating the appropriate documents to address who will receive your property after your death. Modern estate planning also includes some planning for a period of time prior to death, particularly if circumstances arise that a person cannot manage their own property or cannot make health care decisions for themselves. The vast majority of people will die after a period of some incapacity. If that period is short, then there are few problems. But because that period can be months or even years, many people want to make arrangements with respect to their property and health care in case the need arises.
There are three basic documents for planning for the period of incapacity that Jonah Bamel, Greg Volk and Tanya Marsh discuss in this episode: (1) a health care proxy or health care power of attorney; (2) living will or advance directive; and (3) durable power of attorney.
Estate Planning FAQ’s — American Bar Association, Real Property Trust and Estate Law Section
Giving Someone a Power of Attorney for Your Health Care — American Bar Association Commission on Law and Aging
Advance Directives — WebMD