Diagnosed but Not Defenseless: Why Estate Planning Is Critical After a Life-Changing Diagnosis
Estate Planning Is Always Wise – But Estate Planning Is Critical After a Life-Changing Diagnosis
A life-changing diagnosis—whether cancer, Alzheimer’s, Parkinson’s, or another serious illness—can shake the foundations of even the most carefully built life. In the face of such uncertainty, the primary focus goes understandably to treatment plans, second opinions, and managing symptoms. But there’s another critical area that also requires immediate attention: estate planning.
Estate planning is critical sooner-rather-than-later when a major diagnosis occurs.
Far too many people procrastinate when it comes to creating an estate plan. But, when given a serious diagnosis, that is a wake-up call. Estate planning is critical now. Procrastination no longer serves a purpose.
Acting now, you are given a chance to take control in ways that ensure your voice is heard and your wishes honored, no matter what the future brings. While confronting estate planning might feel overwhelming during such a critical health crisis, it’s a vital act of empowerment. Specifically, one that brings peace of mind regardless of your prognosis. Knowing you have handled all the difficult decisions instead of leaving them to be made by your loved ones is a huge relief to all.
Why Timing Matters When Estate Planning Is Critical
Many legal documents related to estate planning require that you be of sound mind when they’re created. Waiting too long—especially in cases involving degenerative conditions like dementia—can result in missed opportunities to establish a clear plan. Acting early ensures your intentions are recorded while you are mentally and legally capable of making decisions.
Essential Documents to Consider
Estate planning is more than drafting a will. It encompasses a range of documents that allow you to appoint trusted people to act on your behalf if you do become incapacitated. Some of the key components include:
- Durable Power of Attorney – This allows someone you trust to manage your financial affairs if you’re unable to do so yourself.
- Healthcare Power of Attorney (Medical Proxy) – This designates a person to make medical decisions on your behalf if you’re unable to communicate.
- Living Will or Advance Directive – This outlines your preferences for end-of-life care, such as whether you want life-sustaining measures like feeding tubes or resuscitation.
- Last Will and Testament – This directs how your assets should be distributed upon your death and can designate guardianship for minor children.
- Trusts – In some cases, establishing a trust can help manage assets during life and simplify their transfer after death, potentially avoiding probate.
Protecting Loved Ones
One of the greatest gifts you can give your family is clarity. In the absence of a solid estate plan, families are often left grappling with difficult decisions. During already stressful times, these decisions can lead to disagreements, legal disputes, and unnecessary expenses. An estate plan serves as a roadmap. It guides your loved ones through challenging circumstances with your voice and values leading the way.
Financial Considerations
Certain diagnoses may affect long-term care needs or eligibility for public benefits such as Medicaid. Proactive and strategic estate planning can help protect assets while ensuring eligibility for assistance. Working with an experienced estate planning attorney is critical in successfully navigating these complexities.
A serious health diagnosis can certainly change the landscape of your life, but it doesn’t make you defenseless. Estate planning is a powerful step toward maintaining dignity. It also lets you protect loved ones and ensure your wishes are honored—no matter what lies ahead. Everyone will come face-to-face with the end of life. However, with proper planning, you will be able to meet your end with a greater sense of peacefulness.
Had a recent serious diagnosis or just ready to stop procrastinating? Let’s start creating your estate plan. Give my office a call today at (470) 235-7868.
Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!
