Planning for the Unthinkable

It’s natural to want to avoid thinking about and planning for the worst case scenarios in life. Whether it’s planning for injuries, loss of mental or physical capabilities, or even death—it seems easier to pretend that these problems do not exist and to push them to the back of your mind. It is for this very reason that it’s integral to confront and plan for these fears. These types of things do happen. Unfortunately, they happen more often than you would think. Instead of pretending that these things couldn’t happen, thorough preparations should to be made in order to mitigate the emotional and financial struggles that will occur if the unthinkable does happen.  An estate planning attorney can help you to effectively deal with these problems, ensuring that you and your loved ones are truly prepared for all of life’s worst case scenarios. If the unthinkable does happen, you’ll be ready to face it.

Incapacitation

Make plans early—though the inability to make legal decisions most often occurs near the end of life, it can happen at any time. Ensure that your estate planning is taken care of, and contains provisions determining what happens when you are unable to make these difficult decisions on your own. One of the simplest and most effective ways from preventing incapacitation from negatively effecting your family is by drawing up Power of Attorney documents. This allows you to decide who will make important decisions after incapacitation has occurred, and prevents the possibility of having these decisions to fall to a court-appointed guardian.

Elder Abuse

The elderly are especially vulnerable to incapacitation and are often taken advantage of by others. No one is immune to this—Mickey Rooney’s final years show that even people who should have enough money to take care of themselves in their old age can be subject to financial and physical abuse. To prevent this, your estate plan should not only discuss what is to be done after death, but what is to be done whenever you and your loved ones need assistance. To that end, you should always consider having powers of attorney and medical directives drafted that give these responsibilities to a trusted person. Proper preparation combined with a watchful eye can ensure that no one takes undue advantage of you or your loved ones in their old age.

Unexpected Death

Despite our intentions and best efforts, people’s lives can often end unexpectedly. The most effective way to avoid amplifying the pain and stress that would be caused by an unexpected death is to create a comprehensive estate plan as soon as possible, even if you have no expectation that anyone covered by it will die any time soon. This not only prevents the possibility of someone dying intestate, but allows you to plan carefully and thoroughly, rather than having to hastily throw things together at the last minute. Again, it is important to confront the possibilities of what could happen, rather than being overwhelmed and causing an even greater burden on yourself and your loved ones by scrambling to face the fallout if bad things do happen.

We Can Help

Bailey Law Firm can help you plan with sensitivity and professionalism, giving you preparedness and peace of mind for the future. For help with these or any other estate planning concerns, you can contact us online here or call our office at 832.510.2900 to set up a complimentary consultation with a Bailey Law Firm attorney.

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