Whether you’re in splendid physical condition and good health, or have been battling a chronic illness for several years now, you likely understand why many California residents want to have a say regarding their own future health-related decisions. For instance, if someone is seriously injured in a car accident, and is unable to speak or communicate, an existing advanced health directive can allow a designated individual to step in and make health care decisions. This means if the situation deteriorates and a life and death decision must made, the person designated in the health care directive may act on behalf of the patient. It is an important part of the estate planning process.
The same goes for financial matters. You can name a particular party or parties in your estate plan to be the voice of authority in your financial decisions if you become unable to act in your own regard. This would obviously be someone you trust and think capable of carrying out such duties.
Many other documents can also be included in an estate plan. However, there is no requirement that one or another document must be included. It’s a highly customizable process that each person can tailor to suit his or her own needs and goals.
McCoy Fatula, APC can address all aspects of your estate planning to help you execute an optimal plan that provides for your children’s future care, documents your final wishes and covers all issues related to inheritance. By calling our California office, you can request a meeting to discuss your plans, and we can help you bring your ideas to fruition in a cost effective, tax-friendly manner. Generally speaking, the sooner an estate owner builds a solid plan, the better as it often helps family members if health issues arise or when the time comes to administer the estate.