What if I become disabled and am no longer able to manage my affairs?
What if you become disabled and you can’t manage your affairs? You want to have several steps in place to protect yourself and protect your loved ones, as well. You want to have certain documents in place, like a Health Care Surrogate and a Durable Power of Attorney, so that your person and property can be taken care of by someone else since you won’t be able to do that for yourself. If you have a revocable trust, the trustee will manage the property in the trust for your benefit.
Of course, there are financial arrangements that need to be made, in particular disability insurance, to cover the additional expenses and lost income during the period of your disability. Of course, there are the non-legal issues that need to be taken care of, like who in particular is going to care for you, whether it’s going to be family and loved ones, or more in an institutional setting, if that’s what you need.
Planning for disability is complicated and there are several steps, but it can be made as painless as it can be with proper planning.