If you’re left incapacitated by illness or injury, important questions about your future will be left to your family. Even if you believe that your family is fully apprised of your wishes that might not be the case. In fact, severe disputes could break out among your relatives if they disagree on the best course of action. Having an advance directive is key in this case, and WebMD explains some of the more common options at your disposal.
People go over their estate plan for many reasons, such as splitting up with their marital partner or the birth of a child. There are many other circumstances in which you may need to rethink your estate plan, however. If you are hurt while working, for example, you may need to make changes to your estate plan for various reasons. Workplace accidents can be incredibly difficult and you may be dealing with a lot of physical pain, financial problems, uncertainty about your future and other challenges. However, you should not overlook necessary revisions to your estate plan.
People designate a power of attorney for many different reasons. For example, a person who is unable to handle his or her affairs for whatever reason may decide that a power of attorney is the best way for their affairs to be managed properly, whether they are related to health care of a small business. Some people may even want to grant power of attorney to a person they trust for tax purposes, but it is important to make sure that you understand the ins and outs of this approach before moving forward.
Sometimes, when people think about guardianship they may focus on children. However, there are many circumstances in which guardianship becomes necessary for adults of all ages as well. For example, someone struggling with a condition that has come with older age may need a guardian, but a younger adult may also be in need of a guardian due to a completely unexpected accident. Either way, it is important for you to make sure that the most practical decision is made during such a critical part of your loved one's life. For many adults in New Jersey, guardianships are a lifeline.
If you have already drafted your will, then you know through the experience of preparing it why it was so important to get it done. But how long has it been since you drafted it? Do you remember your exact wishes that you included?