Bulletins
Estate Planning During COVID-19: How Parents Can Be Prepared for Incapacity
April 28, 2020
- Who makes financial and medical decisions for me if I cannot make them myself?
- Who takes care of my children if I can’t?
- Durable Power of Attorney: The Durable Power of Attorney names an Attorney in Fact to handle your financial affairs. Instead of having to wait for the Court to appoint a Conservator, your Attorney In Fact can have instant access to your bank accounts and can sign your name on checks and other legal documents. You can name a backup in case your primary Attorney is unable to serve.
- Health Care Proxy: The Health Care Proxy names an Agent who can make medical decisions for you, such as what medications to administer or what treatments may be tried. The Health Care Proxy can also contain “Living Will” language which sets out your wishes for end of life decisions. You can tailor your Health Care Proxy document to instruct your Health Care Agent whether you want the hospital to keep you alive using artificial means or not. You can name a backup Health Care Agent as well.
- Emergency Guardianship Proxy: In a situation where both parents are sick and unable to care for their children, an Emergency Guardianship Proxy allows the parents to select who would care for their children in an emergency for a short time period without the need to go to Court. This document allows the parent of a minor to nominate a temporary Guardian, and the parent may delegate to the Guardian any power that the parent has regarding the care, custody or property of the minor that may be required during this period of incapacity. The nomination may be revoked or amended by the appointing parent, in which case the revocation or amendment must be delivered to all interested persons. If both parents are ill and unable to care for their children, this appointment would allow the selected surrogate to decide how to care for their children.
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