You never know what the future will hold. That is why you should establish an estate plan in Utah now while you are fit and clear of mind. Utah estate planning is not only about preparing for your inevitable death; it is also about planning for possible incapacitation. You may be young and healthy now, but you can be the victim of an accident or a terrible illness at any time in the future. Having an estate plan will give your family important guidance on what you want while you are still alive but unwell.
Estate planning attorneys in Utah can help you prepare a plan that is clear and decisive. It can reduce and eliminate any possible discord within your family about decisions concerning the estate and your health care.
Estate planning and Incapacity
Your estate plan can designate someone to handle your financial matters. If you develop dementia or Alzheimer’s, you may not be able to focus on managing your assets, paying your bills, and dealing with taxes. You can appoint someone you trust to manage these affairs. This person will have complete control over your finances should you become incapacitated. It is especially important to develop this plan if you have built a business or have a controlling stake in one. It will ensure that important business decisions can be made while you are ill.
In your estate plan, you can also designate someone to handle healthcare decisions on your behalf. If you are in an accident that leaves you in a coma or otherwise unable to make decisions, the person you designate will be able to make such decisions for you. As part of your plan, you can leave them instructions on the kind of treatment you want and don’t want. This can include a Do Not Resuscitate (DNR) order under certain circumstances.
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