Learn more about the various incapacity planning options that MVP Law Group can provide. Contact us today for a Free Consultation to learn more!
INCAPACITY PLANNING OPTIONS
Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself. The type of care could range from simple tasks like buying groceries, paying bills, and handling financial matters to more important decisions such as selling real estate, gifting assets to your children, or making critical medical decisions.
Depending on the needs of the individual or family, incapacity planning could include a number of planning techniques such as Property Powers of Attorney, Health Care Powers of Attorney, Living Wills or Advance Health Care Directives or Guardianships/Conservatorships.
Who will take care of me and my assets in case of incapacity?
An advance healthcare directive, also known as living will, is a legal document in which a person specifies what actions should be taken for their health if they are no longer able to make decisions for themselves because of illness or incapacity. Another form is a specific type of power of attorney or health care proxy, in which the person authorizes someone (an agent) to make decisions on their behalf when they are incapacitated. A living trust is a written legal document through which your assets are placed into a trust for your benefit during your lifetime.
What is a Guardianship or Conservatorship?
Guardianship, also known as Conservatorship, is a court-supervised proceeding which names an individual or entity to manage the affairs of an incapacitated person. A Guardianship may also include the duty to care for the incapacitated person.
Our law firm helps clients create a plan to handle their affairs in the event they become disabled, thereby avoiding the necessity of a public Guardianship proceeding.
In addition, see and learn more about Incapacity Planning Definitions on our website.
How MVP Law Group can help!
Problems arise when people don’t coordinate all of the correct methods of passing on their estate. If you have a well-drafted estate plan in place, you will ensure that your estate passes to whom you want, when you want, and is carried out in the manner you’ve chosen. You can rest assured that your family won’t have to endure the public process and costly matter of probate. The government won’t be able to take what you’ve spent a lifetime building. But you need to be aware of the many options that exist in estate planning – and you must choose your estate planning attorney wisely.
We offer a wealth of free information and free estate planning seminars in our area. Explore the resources available on our website or join us for a free Estate Planning Seminar.
We want you to feel confident about the choices you make – let us be your guide on the path toward preserving your family’s future.