Lee Law Office helps you to plan ahead in case tragedy happens. One of the worst things that could occur in your lifetime is for an illness or an injury to leave you incapacitated and unable to make your own decisions or manage your own assets. If you find yourself in this situation, it is vital for your own sake and for the sake of your loved ones that you have a plan in place. Lee Law Office helps you to make a plan that is right for you.
Incapacity could, unfortunately, happen at any time. Since there are never any guarantees of how many tomorrows you have left, you should act today to put plans in place to control what will happen if you can no longer act on your own accord. A Richmond incapacity planning lawyer at Lee Law Office will assist you in creating a personalized plan that addresses the issues that matter in your life and will help you to answer questions you may have including:
- What should be part of my incapacity plan?
- What if I do not have an incapacity plan?
- How can a Richmond incapacity planning lawyer help me?
What Should be Part of Your Incapacity Plan?
In order to be prepared for a serious illness or injury that leaves you incapacitated, there are a few key things that you need to do:
- You need to create advanced directives for your healthcare. You can specify the types of medical services that you do, and do not, wish to receive under specific health circumstances. This will spare you from being kept alive by extraordinary measures when you would prefer not to be or will allow you to make clear that you want certain medical interventions tried to extend your life.
- You need to create a power of attorney. This will give an agent the authority to act on your behalf and make decisions for you if you cannot. You can give someone authority to make healthcare decisions not specified in your advanced directives and you can also provide authority to manage assets and make other decisions for you.
- You need to create a long term care plan: If your incapacity leaves you alive but unable to care for yourself, you should have plans in place to make sure that you can afford your nursing home care or long term care. Most insurers won’t pay for this kind of care, so you may have to pay out of pocket if you haven’t made a plan to make sure you can get covered. Most people rely on Medicaid, but Medicaid is means-tested so you’ll want to work with an experienced attorney to protect your wealth while getting covered.
- You need to create an estate plan: If you become incapacitated, it will be too late for you to take control of your legacy. You’ll need to make certain that you have plans in place for who will inherit, how to facilitate the timely transfer of your wealth, how to address any special circumstances like disabled or underaged heirs, and how to protect your wealth from estate tax.
Lee Law Office can help you to do all of these things and more. Our legal team will work closely with you to identify the legal tools you can use to be fully prepared in case an illness or injury leaves you incapacitated.
What if You Do Not Have an Incapacity Plan?
If you do not make an incapacity plan, you could experience substantial financial loss if you must pay out of your own pocket for long term care or nursing home care. This type of care can cost thousands of dollars monthly, so you could go through your entire life savings quickly and become unable to leave a legacy.
Your loved ones could be put in a position where they experience guilt over decisions they make on your medical care and where there is family fighting over your care. Court proceedings to have a guardian appointed could become necessary. Heirs or beneficiaries could be left without necessary funds from an inheritance due to a lengthy and complicated probate process if you have no estate plan. And your assets could be lost due to mismanagement while you are incapacitated or after your death.
How can a Richmond Incapacity Planning Lawyer Help You?
You do not want to put your money and family at risk, so you should be sure to make an estate plan that is right for your situation. Our legal team will help you to create a plan that makes the most effective use of legal tools so all of your affairs are in order even if you get sick. To find out more about how we can help you, call Lee Law Office today to talk with a Richmond incapacity planning lawyer.