Most Louisiana adults do not fully understand why it is important to have a complete estate plan until they need it. Unfortunately, this is often the point where it is too late to make any plans that could have a discernible effect on the situation. Estate planning is critical for adults of any age or income, and it’s beneficial to make these plans while still healthy.
Why now?
A complete and thoughtful estate plan allows a healthy individual to have a measure of control over things that may happen in the future. It may seem unnecessary or frightening to consider one’s own mortality, but there are certain plans that may be helpful in the future while also providing peace of mind. These include:
- A living will — This is a document that allows one to outline the specific types of treatment he or she may prefer in case of incapacitation.
- Health care proxy — This allows an adult to appoint a trusted individual to make decisions that may not be specifically outlined in the living will.
- Financial power of attorney — This document designates a person to make important financial decisions on behalf of an incapacitated individual.
These and other estate planning tools allow an adult to have the final say in what happens in case of unexpected death or a medical situation in which he or she is unable to express wishes.
The future starts now
The time to make plans for the future is now. A healthy adult of any age will benefit from estate planning. If a Louisiana adult is unsure of where to start, it may help to speak with an experienced attorney first.
