Potential Incapacitation: How Estate Planning Protects You and Your Family
Many people consider estate planning only in the context of death. The truth is more complex, however. A good estate plan also provides protection in the event of incapacitation.
WHAT IS INCAPACITY?
Legal incapacity is generally defined as an individual being unable to effectively manage their property or financial affairs. This incapacity could be through illness, injury, or any other cause.
HOW DOES ESTATE PLANNING HELP?
If no plan is in place upon your incapacitation, your family members will have to navigate a complex legal process to appoint a guardian to manage your financial affairs, which can be very expensive.
An estate plan that includes a Durable Power of Attorney, a Living Trust and Health Care Directives can help you avoid this situation. These instruments give a chosen trusted individual or indvidulals the ability to access and properly manage your finances and your health care decisions in the event of your incapacitation.
CONTACT HILLTOP LAW FIRM TODAY
Have a legal question about your estate? Call us at (602) 466-9631 or follow this link https://calendly.com/hilltoplawfirm/initial-consultation-web to set up a consultation today with one of our Arizona Estate Planning attorneys.