More than a fear of dying, many Delaware residents fear that they will reach a point in their lives when they will not be able to make sound decisions for themselves. They may wonder what will happen if an injury or illness causes them to be incapacitated. Fortunately, estate planning can help prepare for an uncertain future.
Having a plan in place could provide everyone, the Delaware resident and his or her family, peace of mind. After spending a lifetime preparing for retirement and saving money for a rainy day, all of it could be gone due to making shaky financial decisions due to being the victim of fraud, abuse or any number of conditions that can affect aging residents. In order to combat these potential issues, certain estate planning documents can be executed.
Looking for long-term care options in conjunction with these documents can allow a person to feel more prepared should he or she become incapacitated. To a large extent, it is about maintaining a certain standard of living regardless of condition. If the need arises, a trusted individual can take over the decision-making. Those decisions could have to do with health care, finances or other matters.
In order to achieve this type of peace of mind, it will be necessary to confront the possibilities. It may even be a good idea to talk to family members since the person chosen must not only be trustworthy, but also willing to serve in this capacity. After these discussions, engaging in estate planning with the appropriate help could put a person’s wishes into documents that comply with all applicable laws and will more than likely stand up in court should the choices be questioned.
Source: startribune.com, “Best to start early on estate planning,” Chris Farrell, Oct. 17, 2017
