In this episode, Daniel Wyatt and Adam Brown discuss estate planning strategies for potential periods of incapacity. Have you asked questions like these before: “Who can make medical decisions for me if I cannot?” “Can I help my adult child with medical and financial issues if they are incapacitated?” Daniel outlines strategies and planning documents available to help with healthcare and medical decisions, financials, and legal issues when the primary decision maker is incapacitated. Daniel and Adam talk about a variety of documents and tools, including Health Care Directives (medical power of attorney, advanced medical directive, living will), Power of Attorney (financial power of attorney, durable power of attorney), HIPAA releases, and more.
Daniel addresses the process for executing, distributing, and retaining these planning documents, and the flexibility, options, and creativity involved with this type of planning. He also discusses cancellation and termination of these documents and permissions.
Planning for major life events such as medical care and treatment, children reaching adulthood, and others can be very important and can save loved ones a great deal of difficulty as they try to help. Daniel also talks about the additional benefits and uses for these types of documents, and the importance of working with an attorney on these types of documents because of the broad range of planning options available.
