Based on the number of phone calls I have recently received, it is apparent to me that Terri Schiavo’s right to die case has sparked a renewed interest in getting our affairs in order. Witnessing the raging battle within the media; the intervention by the United States Supreme Court, Congress and even the President; the intense fight between Terri’s family and her husband—and the debate that has ensued within our own families over her fate—has sparked this renewed interest.
So what have we learned? Hopefully, that almost everyone has an opinion regarding how we want our own affairs handled if we have a terminal condition, in an irreversible coma, vegetative state, or on artificial life support. We learned that, if we have not previously planned for such events, we will have to go through a guardianship or conservatorship (also referred to as a “Living Probate”) whereby the court, the legislature and third parties may have control over our personal, medical and financial affairs. We also learned that a living probate contains many uncertainties and complications that can be contested and fought over by disagreeing family members. Lastly, we have hopefully learned the importance of establishing our own personal instructions and wishes regarding our care, without further procrastination.
Every estate plan, regardless if it is a simple Will-based or living trust-based plan, should contain certain health care and financial directives:
Living Will: A directive you use to tell your agent under a power of attorney, your family, doctors, and other medical personnel your wishes regarding artificial life support and artificial feeding mechanism.
Medical and Mental Health Care Power of Attorneys: A directive that allows you to choose an agent to stand in your place to make all your medical and mental health care decisions on your behalf, based on your personal instructions contained in a power of attorney and Living Will. Depending on your personal wishes, an organ donation directive may also be used.
Financial Power of Attorney: A directive that allows you to choose an agent to stand in your place and make and perform all your financial decisions and duties on your behalf, at times you are unable to do so yourself. This power of attorney allows your family to circumvent a formal conservatorship proceeding in the courts, whereby the court plays an active role in all your financial affairs.
Setting up even a basic estate plan is absolutely vital to ensuring your affairs are taken care of during times of incapacitation or disability. Spending the time now to talk about your wishes with your spouse, family, and attorney promises to save all concerned an abundance of grief, stress and money in the future.
If you have any questions regarding family based estate and tax planning or any other legal issues, please do not hesitate to call Rowley Chapman Barney & Buntrock, Ltd. at (480) 833-1113, and ask for Ken Barney.
