Learning you have developed a terminal illness is both emotional and challenging, to say the least.
Once the immediate shock fades, it is not uncommon to begin thinking about more practical matters. For instance, how you want your final days to pass and how to provide for your family after your eventual passing.
The following checklist can help you make sound decisions when tying up your affairs.
Create advance healthcare directives
The Georgia Advance Directive for Healthcare combines the features of a living will and a medical power of attorney into one document. It allows your designated agent to make medical decisions when you cannot. You may also specify your preferences for life-sustaining treatments and other medical care.
Establish a durable power of attorney
This estate planning tool empowers you to designate someone to step in and make legal or financial decisions on your behalf if you become incapacitated. It can allow the practical matters in your life to carry on uninterrupted. Choose someone you trust and who understands your values and preferences.
Review and update your estate plan
Study your financial and estate documents carefully, ensuring they reflect your current circumstances and asset distribution wishes. Go over your trusts and other asset protection documents to make certain they are accurate and up-to-date.
Communicate your wishes to loved ones
Talking with your family about your plans can prevent misunderstandings and conflicts after your death. Clearly explain your decisions and reasoning to keep everyone informed. Alternatively, consider adding a letter of intent about your choices to your estate plan.
A legal representative can be invaluable in helping you identify any gaps in your will and other documents while offering essential practical support in the wake of a terminal diagnosis.
