Navigating the intricacies of your financial legacy can be a daunting task. Understanding the nuances…
What is a Disability Panel and How Does it Work?
What is a Disability Panel and How Does it Work? Aging can be both rewarding and challenging. With age we gain the wisdom we wish we would have had in our youth. We have lived to an age where we have gotten to experience a lot of what life has to offer. We may have gotten to watch our children grow into fine adults, having children of their own, now our Grandchildren. We can look back on our life and see the things we have accomplished and what we will be leaving as our Legacy.
Some of us were able to amass some wealth to pass onto future generations, some of us will need that wealth to carry us into old age. Whatever our situation is, we are not getting any younger and we all know with age we experience some decline both physically and mentally. There may come a time when we develop Dementia or Alzheimer’s and need our trusted loved ones to help or actually make decisions for us. Don’t wait until it is too late to make your wishes known. Although macabre, it is a fact of life, one day we will pass on. We may do so fully capacitated, or we may become incapacitated before we pass.
Right now, is the time to make our wishes known. While we are still cognizant and in control. There are so many decisions you can make when it comes to end-of-life decisions. We do not think of them on a daily basis, and it is not the most enjoyable thing to think about, but it should be considered.
Establishing a Trust, Living Will, and Advanced Healthcare Directives is a start in the right direction. At Legacy Planning Law group all of our Trust packages come with a Living Will, a Last Will and Testament, a Durable Power of Attorney, and Advanced Healthcare Directives. We got you covered at every end.
We also include the option for a Disability Panel. What is a Disability Panel you might ask? A Disability Panel is a group of people of your choosing who will decide if and when you are truly incapacitated and unable to make good decisions. This panel could include, for instance, your primary care physician, an appropriate specialist recommended by the doctor and approved by your spouse, your spouse, adult children, etc. You decide whether the panel’s decision must be unanimous, or by a majority vote. This puts you in complete control.
Although unpleasant, it’s never too soon to start planning and getting your affairs in order!
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How Do I Talk about End-Of-Life Decisions?
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