End-of-Life Planning in Colorado
Frequently people to come to me and ask about end-of-life planning. They usually want to know about a will, a trust or how they make their decision regarding whether or not they would like to be on life support if the worst happens. In reality, end-of-life planning is a small part of what is called Estate Planning. While estate planning allows for an individual to protect their assets, themselves and their family both while they are alive and after they pass, end-of-life planning focuses only on what happens after passing.
What Exactly Does End-Of-Life Planning Involve?
End of Life planning is the second half of a full estate plan. It involves making important decisions regarding your passing, such as:
- Where do you want your things to go?
- Who do you want to receive specific gifts or money from you?
- Do you want to benefit charity?
- What happens if family members predecease you?
- What happens if you are in an accident and leave behind minor children?
- Do you want to stay on life support in an end-of-life situation?
- What terms do you want in your living will?
- Do you prefer to have a funeral and have you made arrangements for it?
- Who will pay for your end-of-life expenses?
There are many more questions to consider when planning for the inevitable. An experienced attorney can guide you through the entire process and make sure your questions are answered. At Althaus Law, we can help you make sure that the decisions you make are legally binding, and everything is simple and efficient for your loved ones.
Is There More?
Yes! With a full estate plan you are able to not only plan for passing away, but you are able to protect yourself and your family while you are still alive. The easiest way to accomplish this is by putting a financial and medical power of attorney in place. This enables you to have an individual ready and able to act for you if you become incapacitated. Afterall, the odds are you will only die once. We can all become incapacitated multiple times through out lives, however.
If you have any questions regarding end-of-life planning or estate planning in general, don’t hesitate to reach out!