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Incapacity planning is important too

On Behalf of | Feb 10, 2023 | Estate Planning |

It may come as a shock to many, but most of us have not done our estate plan. In fact, according to a survey, only about one-third of us have even done a will, but an even smaller percentage than that have an incapacity plan. However, if you are going to go through the trouble of establishing an estate plan, you should have a full one, which includes a Miami, Florida, incapacity plan.

What is it?

A Miami, Florida, estate plan focuses on what happens after you die. The incapacity plan, on the other hand, focuses on what happens if you are simply incapacitated, but still alive. In other words, the incapacity plan addresses what you want to happen if you lose your ability to make your own choices. So, in some ways, it is even more important because it is for you, now. Without one, you may very well have to live with the consequences.

The basics

The basic incapacity plan should address three key areas of your life: your finances, your personal life and your health. It makes sure that there is a plan to take care of your personal life, that your wishes are followed and that someone has the power and legal authority to make sure your wishes are followed.

Not a single document

Your incapacity plan is not a will or a single document. Instead, it is a combination of documents that serves multiple purposes, depending on your wishes. For example, it could have a Living Will that will contain your health care wishes, medical directives, etc.

It could also have a Do Not Resuscitate Order as well, if you do not want to be resuscitated or other medical interventions. HIPPA Release documents could also be included for specialists, your Health Care Proxy, specialists, etc.

It likely will contain some form of a Health Care Power of Attorney, Health Care Proxy or an Advance Medical Directive. This will give someone the power to make medical decisions on your behalf. It should also include a Durable Power of Attorney for Finances too because someone will need the power to take care of your finances. Of course there are other possibilities, but this post is simply an overview of possible Miami-Dade County incapacity plan documents.