Do You Know the Most Important Documents in an Estate Plan??? Dying to Find Out Do You Know the Most Important Documents in an Estate Plan???

The most important documents in an estate plan are…? The Quiz… The most important documents in an estate plan are…? The Revocable Family Trust The husband’s Last Will and Testament The appointment of an executor The state document on taxes The ACP documents

And the answer is…Ta-Da!!! The (ACP) Advanced Care Planning Documents

Benefits the person while living Makes doctors laugh and smile Why is it the ACP?? Least understood Family heirs named Taxes saved Benefits the person while living Makes doctors laugh and smile Fulfills requirements of the law

And the answer is…Ta-Da!!! 4. Benefits the person while living

What Are These Documents? A Durable Power of Attorney for Healthcare Who would you like to speak for you if you were not able to speak for yourself regarding your medical care?

What Are These Documents? A Living Will What kind of treatment do you want your doctor and your medical team to provide if you are hospitalized?

What Are These Documents? HIPPA authority/authorities Who would you want to know your medical condition and treatment if you were hospitalized?

A Durable Power of Attorney for Healthcare Not the same as a Power of Attorney Has a specific purpose Requires a specific person to speak for you and one or two alternative spokespersons Person may be called healthcare agent, surrogate, an attorney-in-fact, or a proxy One of the most important decisions you can make

Focus Understanding ACP is a fundamental part of estate planning so let focus…

A Durable Power of Attorney for Healthcare IF there are no circumstances where I would like to be taken off life support, then I don’t need to bother with the Durable Power of Attorney? True False False—The truth is you can say in this document that you want heroic measures taken to save your life, no matter what the prognosis you may have for recovery.

A Durable Power of Attorney for Healthcare I can make both of my children agents on my Durable Power of Attorney for Healthcare? True False True—but it is not advisable. When co-agents disagree it is more likely that no action will be taken, which makes your planning worthless!

A Durable Power of Attorney for Healthcare A Durable Power of Attorney for Healthcare is good forever? True False True, but the agent named on your documents can be changed if you wish. This is best done by revoking the previous document and keeping it on file with the new one.

A Durable Power of Attorney for Healthcare If this is the most important document then why don’t more people have one? Most Americans have no idea of the importance of this document Many people are afraid to confront their own mortality Most think they’re too young to contemplate death

A Durable Power of Attorney for Healthcare Where should I store all of my Advance Care Planning documents, including my Durable Power of Attorney for Healthcare? The best place to store them is in your Family Vault. Print a copy for your agent, your doctor, and your health insurance company to be kept as part of your medical records. Plus, keep a copy readily accessible at home to give to EMS if they are ever called.

A Durable Power of Attorney for Healthcare Most of the other documents in an estate plan are intended more for the benefit of your heirs and people left behind after you die. But this document is for you. I hope that you won’t ever be incapacitated or hospitalized, and that a long, healthy life awaits you. But just in case, I urge you to make the simple arrangements for an advanced care directive for healthcare. Do this for yourself and for the people you love, and do it now, while you’re strong and healthy. It may be the most important document you have ever signed. Suze Orman

Next Week… We are going to look in detail at the importance of a Living Will and consider some of the questions you may be asked.

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