You suffered a brain injury recently, and you want to get your financial affairs in order while recovering. Have you drawn up the necessary legal documents to help with financial planning?
The Brain Injury Association of America breaks down common legal documents associated with severe injury. Take steps to secure your financial health while recovering and adjusting to a new way of life.
With a living will, you express your end-of-life desires regarding the medical care you want to receive if you become incapacitated. For instance, would you like to receive pain medication? How do you feel about feeding and hydration tubes? Let your loved ones know which life-preserving medical procedures you prefer. How much specific procedures cost may affect your choices.
Health care power of attorney
You may want a friend, relative or medical professional to speak with your voice regarding health care decisions. A health care power of attorney designates a proxy who acts on your medical wishes and desires for life-sustaining health care.
Other than a health care power of attorney, you may also draft a durable health care power of attorney. The difference between the two power of attorney documents is that a general power of attorney ends when you become incapacitated if you do not withdraw it before that happens, but a durable power of attorney endures even after you cannot make decisions for yourself.
Power of attorney
Besides your physical health, you must also plan to protect your financial health. A power of attorney document lets you authorize an individual to tend to your financial affairs for you. You may use the document to set limitations on the financial power your proxy possesses.