These are some dark days that we are in right now. This is full on Twilight Zone material. The coronavirus pandemic is impartial and merciless in who it claims as its victims. This should be a wake-up call to make sure that you have your health care documents all squared away. The two most common health care documents that I am talking about are:
Living Will – This written document sets out how you should be cared for in an emergency or if you are otherwise incapacitated. Your living will sets forth your wishes on topics such as resuscitation, desired quality of life and end of life treatments including treatments you don’t want to receive. This document is primarily between you and your doctor, and it advises them how to approach your treatment.
Durable Power of Attorney for Healthcare – The durable power of attorney for healthcare is given to the person you want to make medical decisions for you in an emergency. Even though you set out your wishes in your living will, such documents can never cover every circumstance, and the person who has a durable power of attorney for healthcare can make decisions not covered by your living will.
In many states, these two documents are combined into one document called an advance health care directive.
Here are some steps to take now to get these documents in order:
- Locate these documents. If you never drafted any, then get it on your to do list. You can get these done online and completed via electronic signature in most states.
- Once located, review them in detail to make sure that they still meet your wishes, particularly who you task to make decisions on your behalf.
- Let family members, your doctor, and your named agents listed in your documents know how they are involved. Give a copy to your named agents. This web site is useful for assistance in getting this done: mydirective.com.
- Keep a copy of these documents in an easy-to-find location, along with a list of all prescriptions, supplements and dosage of each and an indication of known allergies. Also, put a copy of your insurance card with these documents. This could speed the hospital admission process.
Stay safe and let me know if you have any questions.
Joe Baker, CFP®
Baker Asset Management, LLC
joebaker@bakerassetmanagement.com
