Planning for the inevitability of your passing is something to take seriously, and far too many people procrastinate until it is too late. You have no guarantees with regard to your future and people of all ages leave the house without coming home each and every day.
When you do not plan ahead proactively it is your family members who would be left behind to deal with the aftermath, and this should be motivation enough for you to take action.
The above having been emphasized it really doesn’t stop there if you want to be comprehensively prepared. It is not uncommon for people who reach an advanced age to become incapacitated to one extent or another. Upwards of half of people who are at least 85 years old are suffering from dementia, and of course there are other causes of incapacitation.
To prepare yourself for this possibility it is advisable to execute documents called durable powers of attorney. With these documents you name decision-makers who would be empowered to act on your behalf in the event of your incapacity.
A standard power of attorney is not going to remain valid upon the incapacitation of the grantor. But these “durable” powers of attorney will indeed be legally binding even if the grantor was to become incapacitated.
It is best to prepare for all the eventualities of aging when you are planning your estate. If you’re ready to get started, take action right now to set up an informative consultation with a licensed and experienced Willoughby OH estate planning lawyer.