If you have yet to incorporate an incapacity plan into your overall estate plan now is the time to do so. Do not make the mistake of associating incapacity with old age. Though the odds of becoming incapacitated do increase with age the reality is that an accident or illness could cause you to become incapacitated at any age. Without an incapacity plan in place control over both you and your assets will be left to a court to decide – a result that most people would prefer to avoid.
At Nash, Nash, Bean & Ford, LLP we would like to help you develop an incapacity plan that reflects your own personal choices to ensure that your wishes will be honored should incapacity strike. Speak to our Quad Cities Illinois incapacity planning attorneys today by calling 309-944-2188 or by completing our online contact form so we can get started with your incapacity plan.
What Happens Without an Incapacity Plan?
If you suddenly become incapacitated tomorrow and you failed to create an incapacity plan prior to your incapacity a number of negative consequences may follow. First, someone will need to make healthcare decisions for you. These decisions may deal with life and death issues that you cannot make yourself as a result of your incapacity. A court will have to decide who will make those decisions. Assuming you remain incapacitated, but alive, for some time, someone will also need to make personal and financial decisions for you. Again, a court will need to appoint someone to be your guardian. The guardian appointed by the court may, or may not, be the person you would have chosen; however, by failing to express your wishes ahead of time in the form of an incapacity plan you gave up the ability to decide who will control your finances as well as make decisions on your behalf.
Quad Cities Illinois Incapacity Planning Benefits
Incorporating an incapacity plan into your comprehensive estate plan offers a number of benefits to you and your loved ones. First, it allows you to decide who will make decisions for you and who will control your assets should you become incapacitated. Second, it saves you and your loved ones the costs associated with petitioning for guardianship after the fact. Finally, it prevents conflict among your loved ones if there is no universal agreement regarding who should petition for guardianship.
Because incapacity can strike at any time it is imperative that you take the time to create your incapacity plan now. At Nash, Nash, Bean & Ford, LLP we would like to help you do just that. Speak to our Quad Cities Illinois incapacity planning attorneys today by calling 309-944-2188 or by completing our online contact form so we can get started with your incapacity plan.