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what-if…

The reality of COVID-19 has forced many individuals to address the “what if” scenarios that were previously unthinkable, or at least the situations that no one ever wants to talk about or deal with.  Most of us have fortunately never dealt with anything like this – extended periods of isolation at home and long-term social distancing – in our lives. Many people are now rushing to prepare estate plans they have put off finalizing and signing. The importance of family communications is essential as well as having legal documents in place, such as a health-care proxy and a power of attorney explained below.

Health-care proxy

Health-care proxies and powers of attorney are not limited to caring for seniors. Individuals may fall ill or have an emergency at any age. Someone who is typically healthy may become ill unexpectedly. A health-care proxy allows another family member or close friend to help make decisions for someone who is incapacitated. The document also allows doctors to share information. Under the federal HIPAA (Health Insurance Portability and Accountability Act), providers may be unable to share information without a designated proxy.

A living will, or advanced directive, is often paired with the health-care proxy, and signed at the same time, to help guide the proxy. This document allows the individual to discuss his or her wishes about the use of various types of medical treatments to extend life. The advanced directive forms vary by state and could require different information.

HIPAA medical release

When patients visit a doctor or hospital, they are often asked to sign a HIPAA form, which authorizes the sharing of medical information with a designated person. Typically these forms are signed at the treating facility. However, documents prepared in advance should include language that will allow the designated agent to receive medical information in compliance with HIPAA regulations.

 Durable power of attorney

The durable power of attorney authorizes an agent to manage finances and sign legal documents on behalf of the patient. The power of attorney will make it possible for the agent to sign documents, access bank accounts, and manage accounts.

 Please let us know if you need a recommendation for an estate planning attorney to help with these documents.