How Important Is It to Have an Advanced Health Care Directive and An Estate Plan?

The life of someone who is diagnosed with a terminal illness such as cancer can be significantly disrupted upon learning of their condition. The life of someone in this situation can be turned inside out completely. A healthcare directive can be critical.

Jobs can be jeopardized, priorities shift immediately and savings can be depleted. Financial planning in the form of developing an advanced health care directive and putting together an estate plan are several ways to ensure that the finances are protected.

Even if you took care of your initial estate planning years ago, your will, your trusts, and your advanced health care directives are all materials that should be reviewed on a regular basis. This is particularly true after life changing events, including a cancer diagnosis.

Some of the most common life changing events that should prompt you to visit your estate planning attorney again include death of a spouse, marriage, divorce or the birth of a new child. Your will and other estate planning documents should all be complementary towards one another and should be developed with the insight of an experienced attorney.  

 

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