Few people relish the thought of planning for what will happen if you become sick or disabled, and think that its best to wait until they are old and unwell, but it’s actually a good idea to start planning to get your affairs in order while you are still relatively young and healthy. All members of the 50+ community should spend some time thinking about their legacy, and how they want their affairs to be handled should they become unable to handle things themselves.
Make Sure Someone Knows Where Your Important Documents Are
If you were to suddenly have a medical emergency, is there someone who knows how to locate all of your important paperwork? You should designate one or more people, like a child or other family member, and make sure that they know how to get to everything they may need. You should give this person the name of your lawyer, your bank, doctor’s office, insurance company, and investment firm. You should also make sure that there are copies available of your Medicare and other health insurance cards. It’s also a good idea to make sure that your doctor has written permission to discuss your health and insurance matters with your point person.
Consider Creating a Living Will
A living will is a document that helps your caregivers know your wishes if you become too ill to make your wishes known yourself. You can specify what kind of care you do and do not want, which can save your family from having to make tough decisions on your behalf without knowing your wishes. You can also name someone with power of attorney to make medical decisions for you if you can’t make them yourself.
By getting your important documents together and making arrangements for someone to make important medical decisions on your behalf, you can rest easy knowing that your affairs are in order and you will be taken care of should you ever need it.