According to a recent study by the NIH, adults reaching 70 years of age have approximately a 30% chance of suffering from dementia, losing the capacity to make decisions for themselves. Including other physical disabilities, adults living past 80 years of age have up to a 74% risk of incapacity or incompetence during their lives. According to the Department of Health & Human services, 72% of adults aged 70 or older will require Long term or palliative care. (https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5624986/)
Incapacity is generally considered to be the inability to make financial and healthcare decisions for oneself. If and when this occurs, who will you trust to step in and execute your wishes, manage your finances and make critical healthcare decisions? While an Advance Healthcare Directive can be extremely helpful outlining your general healthcare and end of life wishes, what happens in case of incapacity when specific and timely decisions must be made?
A complete Trust package includes a Durable Power of Attorney (POA). What is a Durable Power of Attorney? This is a document that allows you to name a representative capable of making decisions on your behalf. A Durable POA is included in all our Complete Trust packages and can be tailored to your specific needs. Want to name someone specific to make healthcare decisions? We can do that. Want to name someone who can pay your bills and make financial decisions on your behalf? We do that too. Trust someone to do it all? We can execute general, limited and custom Durable Power of Attorney to meet your specific needs.