Page 21 - Healthcare News 2024 Senior Planning Guide

on your behalf when you are no longer able to manage your affairs.
2. Plan for Your Future Healthcare
Many people choose to prepare advance directives, which are legal documents that provide instructions for medical care and go into effect only if you cannot communicate your own wishes due to disease or severe injury. The most common advance directives include a living will and a durable power of attorney for healthcare.
• A living will tells doctors how you want to be treated
if you cannot make your own decisions about emergency treatment. You can say which common medical treatments or care you would want, which ones you would want to avoid, and under which conditions each of your choices applies.
• A durable power of attorney for healthcare names
your healthcare proxy, a person who can make healthcare decisions for you if you are unable to communicate these yourself. Your proxy — also known as a representative, surrogate, or agent — should be familiar with your values and wishes.
A proxy can be chosen in addition to or instead of a living will. Having a healthcare proxy helps you plan for situations that cannot be foreseen, such as a serious auto accident or stroke.
These documents are part of advance care planning, which involves preparing for future decisions about your medical care and discussing your wishes with your loved ones.
3. Put Important Papers and Copies of
Legal Documents in One Place
You can set up a file, put everything in a desk or dresser drawer, or list the information and location of papers in a notebook. For added security, consider getting a fireproof, waterproof safe to store your documents. If your papers are in a bank safe deposit box, keep copies in a file at home.
4. Communicate Where to Find Your
Important Papers
You don’t need to discuss your personal affairs, but someone you trust should know where to find your papers in case of an emergency. If you don’t have a relative or friend you trust, ask a lawyer to help.
5. Talk to Your Loved Ones and a Doctor
About Advance Care Planning
A doctor can help you understand future health decisions you may face and plan the kinds of care or treatment you may want. Discussing advance care planning with your doctor is free through Medicare during your annual wellness visit. Private health insurance may also cover these discussions. Share your decisions with your loved ones to help avoid any surprises or misunderstandings about your wishes.
6. Give Permission for a Doctor or Lawyer
to Talk with Your Caregiver
If you need help managing your care, you can give your caregiver permission in advance to talk with your doctors, your lawyer, your insurance provider, a credit card company, or your bank. You may need to sign and return a form. Giving permission for your doctor or lawyer to talk with your caregiver is different from naming a healthcare proxy, who can only make decisions if you are unable to communicate them yourself.
7. Review Your Plans Regularly
It’s important to review your plans at least once each year and when any major life event occurs, like a divorce, move, or major change in your health. BW
BusinessWest
<< SENIOR PLANNING GUIDE >>
21
003785_SSF_BW-HCN2022SeniorPlanningGuidePrintAd.indd 2 8/11/22 11:09 AM
AUGUST 5, 2024
“Having a healthcare proxy helps
you plan for situations that cannot be foreseen, such as a serious auto accident or stroke.”
SECURE YOUR FUTURE.
At Shatz, Schwartz and Fentin, our experienced estate planning and elder law attorneys are recognized leaders in their fields. Compassionate and ready to listen, our team is well equipped to help you secure your future and meet your personal elder care and financial goals. Contact our team today to schedule your consultation.
SPRINGFIELD NORTHAMPTON ALBANY
ssfpc.com
grenierfinancial.com | Fax: 413 731 7268
Life’s a Journey.
Let us walk the road with you. It’s what we do.
Pat Grenier, Principal
RR, CFP®, MBA
pat@grenierfinancial.com
MA One Monarch Place, Suite 810 Springfield, MA 01144
413 736 6712
CT 265 Main Street Wethersfield, CT 06109
860 721 7880
Securities and advisory services offered through Cadaret Grant & Co., Inc., an SEC Registered Investment Adviser and member FINRA/SIPC. Grenier Financial Advisors and Cadaret Grant are separate entities.
4.5x5.8