Writing your will and completing your estate plan are actions you take not only to pass along wealth to your children but also to manage your own affairs during difficult times. You need a method for conveying your intentions even if you become unable to voice them yourself.
Adding an advance healthcare directive to your will accomplishes just that. By understanding what a directive is and when you should have one, you can ensure that you receive the care you need if illness takes hold.
What is an advance healthcare directive?
Drafting an advance healthcare directive is an important part of advance care planning. If an illness incapacitated you or if you become unable to voice your wishes for any other reason, medical professionals can look to your advance healthcare directive for directions on how to treat you. This serves a similar purpose as a power of attorney, but without the need for an agent to intervene.
When is the best time for advance care planning?
It is best to add an advance healthcare directive to your estate plan as soon as possible and before something can go wrong. You should also revisit and revise your directive as your medical condition changes throughout life. It is especially important to make sure your advance care planning is up-to-date as you prepare to enter retirement.
Advance care planning is a precaution that many people believe they can put off for later in life. The reality is that when you need an advance healthcare directive to be in place, it may already be too late.