Legal Issues of
Elderhood
January 22, 2005
By Jessica T. Brown
From Admoreite.com
Living in Prime
Time
There are four
crucial documents each senior citizen should have: 1. An updated and
valid will; 2. A durable power of attorney; 3. A living will; 4. A
durable power of attorney for health care.
A
well-drafted will ensures that your belongings (no matter how extensive
or meager) will be allocated according to your wishes. It can also
prevent, or at least diminish, family squabbles and reduce the time and
cost of probate. In some cases, it can reduce the amount of taxes that
will be owed. Wills should be reviewed every year or two and also
whenever there is a major change in your family, e.g., a death, a
divorce, a move to another state, a change in assets. It is important
that you give your loved ones a copy of your will and tell them where
you keep the original.
A
durable power of attorney allows a designated person to make legally
binding decisions for you should you become temporarily or permanently
incapacitated. If you are ill and in the hospital, for example, this
document would allow your designated attorney-in-fact to sign your
checks, to pay your bills, to take care of your home and car. This
document, however, does not strip you of your power to make your own
decisions or control your own legal and financial affairs. It simply
names a person to handle some or all of these matters in case you are
unable to handle them yourself. Unless you specifically revoke it, a
durable power of attorney remains valid until you die.
A
living will states your wishes regarding medical care in the event you
are close to death. Typically, a living will informs the doctor that you
wish to die free of pain and free of aggressive medical treatment when
there is no reasonable chance for your recovery. A copy of your living
will should be given to your primary physician and your loved ones.
A
durable power of attorney for health care appoints a person to make
medical decisions on your behalf when you are unable to do so. For
instance, if you are delirious for a brief time following surgery, your
doctors will look to your appointed health-care proxy for medical care
decisions until you are better and able your own decisions again. A copy
of this document should be given to your primary physician and the
person you have designated to be your health-care proxy.
These four
documents are vital because they give direction to your loved ones and
to those around you, telling them of your wishes and how you want to be
treated. A local attorney can prepare these documents for you. Also
generic forms, received from a hospice or your physician, may be
appropriate in some cases.
For More Information Contact::
PartingWishes.com
Email:
support@partingwishes.com
Internet:
http://www.partingwishes.com
