Incapacity Planning in Texas

 Posted on June 10, 2024 in Estate Planning

Many people decide that the time has come for estate planning when they become concerned that they may become incapacitated and unable to make sound decisions. Incapacity planning is the term that refers to plans you make when you are still capable in case you become incapacitated in the future. With extended life expectancy seeing people live much older than they used to, age-related impaired capacity is more prevalent than it used to be. When you are young and healthy, you have no way of knowing whether you might end up with dementia, Alzheimer’s, or some other form of cognitive decline. Once that happens, it is generally too late to put your affairs in place. If you are wondering about incapacity planning, speak with a trusted Flower Mound, TX estate planning attorney to find out more.

What Does Incapacity Planning Include?

A robust plan for hypothetical incapacity includes several documents. Each serves its own distinct purpose. Some of the documents you might wish to include in your incapacity planning for the future of your estate are:

• Power of attorney: There are many decisions that might affect you when you no longer have the capacity to be decisive. In such cases, you might have an appointed power of attorney to make those decisions for you when you can no longer do so. There are two main categories of power of attorney: Medical and financial. One thing you can control is who you want to be able to make these decisions on your behalf. This is an extremely important factor in organizing your incapacity planning. Your medical power of attorney can make decisions for you about treatment you might receive, procedures you might undergo, or anything else related to your physical health. A financial power of attorney might have access to your bank account so they can pay bills on your behalf or manage any financial government benefits they are entitled to.
• HIPAA waivers: When you are incapacitated, someone else needs to have power of attorney to make decisions about your health care. Make sure you have in writing that you agree to give this person access to your personal medical records.
• Advance directives. Any document that lets you express what your medical wishes are far in advance are considered advance directives. Things like a DNR or living will are included in this category. 

Speak with a Denton County, TX Incapacity Planning Lawyer

If you think it might be time for you to engage in estate planning, speak with a skilled Flower Mound, TX elder law attorney to understand what is involved. At Colbert Law Group PLLC, we want to make sure your rights and your estate are protected. Call 972-724-3338 to find out more.