It is important to address your assets, whether they are financial or tangible, when making an estate plan. You can select beneficiaries and choose people who get certain assets or tell them how they have to divide things amongst themselves, such as leaving joint ownership of a family vacation property to multiple adult children.
But it is critical to remember that your estate plan also should address your future medical needs. There are two main ways that this can be done.
A living will
Your first option is to write a living will that tells your medical team if you have made any choices in advance. Perhaps you do not want to be kept on life support or you do not want to be resuscitated. Writing a living will can be helpful for your medical team and for your family, as it takes the pressure off of them and they do not have to make these decisions themselves.
A power of attorney
Another option is to use a power of attorney. Instead of choosing medical treatments in advance, you are choosing an agent. The power of attorney authorizes them to make your medical decisions and gives them the legal right to do so if you become incapacitated. This can also help to take pressure off of your family because they know who is in charge of making these decisions, and that predetermined individual—who understands your wants and desires—can work with your medical team to ensure you get proper treatment.
Both of these options can be useful, depending on your specific situation. Just be sure you know exactly what legal steps to take to get all the proper documentation in place in advance.
