Unfortunately, we cannot look into a crystal ball and instantly know our future. Nonetheless, individuals in California and elsewhere can speculate what the future might bring. And with these speculations, you can take steps to better prepare yourself for the good and bad life might have in store for you.
This is where estate planning can come into play, with this process bringing with it valuable documents that not only serve you and your loved ones following your death but also in the event of incapacitation.
Planning for incapacitation
While incapacitation is neither easy nor enjoyable to think about, the fact is that planning for this event is imperative. Without a plan in place, your loved ones will have to make medical and financial decisions on your behalf.
These decisions may not align with what you would like them to do. As such, it is important to not only understand the purpose of incapacity planning but to also fully explore how you can personalize the plan to represent your wishes entirely.
Role of conservator
When you name a conservator, you are providing the named individual the authority to make decisions about your daily and long-term needs and care in the event of your incapacitation. These decisions could relate to living arrangements, medical treatments, transportation, meals, recreational activities and other similar decisions.
When a conservatorship is established, the conservator has a fiduciary duty and must always act with the conservatee’s best interests in mind.
Thus, it is important that full consideration is made when naming a conservator and creating an incapacity plan.
The estate planning process can be a major and complex process. An incapacity plan is just one portion of a larger plan, making it important that you gain assistance and support when moving forward with the creation or modification of an estate plan.