Those with certain health conditions need estate planning

On Behalf of | May 22, 2020 | Estate Planning

In Colorado, an estate plan can accomplish any one of a number of purposes. Deciding issues of money and property is just one thing that the estate plan does. If someone has any type of health condition, the estate plan can assist them as their issues progress. This is true when someone has a brain or neurological condition that can degenerate later in life.

If the condition impacts their cognitive abilities, it may make decision-making more challenging in the future. These problems could extent to both health and financial decisions. Estate plans can include powers of attorney for one or both of these areas. The plan may also include an advance care directive so that the person’s wishes may be factored into their health care. The amount of support that is necessary depends on the type of condition they have.

There may also be financial considerations in an estate plan. If it is anticipated that the health issue will require more intensive care, then a trust may be necessary to provide for their care. There is no one-size-fits-all approach to an estate plan. Instead, the estate plan must be tailored to each individual’s specific condition. This should factor in their future prognosis and the particular details of whatever health issue they are experiencing. This may be subject to change over time, so the estate plan should be reevaluated.

An estate planning attorney may help their client devise a plan that is tailored to their own specific condition. Then, they might assist with a periodic reevaluation to see if any changes are necessary. It may be crucial that someone with a health condition has their own estate planning attorney to help with elements of their care and support. Without it, their family might be left to deal with difficult situations.