Too Young for Elder Planning?

Don’t let the title of Elder Planning fool you. Everyone eighteen or older should have a power of attorney, a living will for health care decisions, and maybe a will. Why? Because anyone and everyone could have a car accident, or medical event, such as a stroke, and without a power of attorney or living will, your family will not have the ability to make decisions for you. But if you ever were to end up in a hospital with a medical emergency, you will want a family member or other trust person to make those critical health care decisions while alive, and in the event of death, to handle your assets and transfer them to the people you want. As a Navy JAG lawyer for many years, our command authority required every sailor from the lowest ensign to admiral to have those critical documents in place. Why? Because if the need arose to make legal or health care decisions for any sailor who was temporarily or permanently incapacitated, the Navy did not want to be stuck with any time consuming delays. Put in Boy Scout terms, be prepared.

A common perception is “I’m too young for elder or estate planning.” Ask yourself, would you want the person you feel is best to make crisis medical decisions for you, or have to spend time and money to have a court appoint someone? And that someone may not be the person you would have chosen. So the words “elder planning” are often used to describe planning for death or incapacity for an age cohort that is at higher risk for incapacity or death, but is applicable to anyone eighteen or older. That largely comes down to naming the person you want to handle your affairs, if you suddenly cannot, due to incapacity or death. In short, “elder planning” is a bit of a misnomer. Having certain basic documents in place is just common sense. Once a person reaches the age of eighteen, he or she is officially an adult, and no one else can make decisions for them without specific authorization from that person. Even if you have a close family that always gets along, sometimes emotions can take over if dollars are at stake, or if any end of life decision must be made.

In Connecticut, that planning means having a living will, formally known as a health care directive for medical decisions, and a power of attorney to handle finances, and a will or trust or both in many cases to pass assets should you die. That not only avoids the time and expense of going to court to name someone, but ensures the person that you trust will handle all your medical and financial decisions until you recover.

Let’s face reality. In every family some people may be better at making hard decisions, and some may be more attuned to how you would make medical decisions if you were capable. You have the power to name the person or persons you feel will best carry out your wishes. So spend the few minutes it takes to call an estate planning elder law attorney and get those critical documents in place that everyone needs to handle their financial and medical decisions if they are alive and incapacitated, or in the event of death.

Attorney Halley C. Allaire is principal in the law firm of Allaire Elder Law, a member of the National Academy of Elder Law Attorneys, Inc., with an office at 271 Farmington Avenue, Bristol, (860) 259-1500, or on the web at www.allaireelderlaw.com. If you have a question, send a note to Attorney Halley C. Allaire and your question may be discussed in a future column.Farmington Avenue, Bristol, (860) 259-1500, or on the web at www.allaireelderlaw.com. If you have a question, send a written note to either attorney at Allaire Elder Law, LLC, 271 Farmington Avenue, Bristol, CT 06010, and they may use your question in a future column.