Page 46 - Senior Link Magazine Summer 2020- Online Magazine
P. 46
HONORING SENIORS
Stocking Up Is Not the
Only Emergency Plan
by Lee Franks
nxiety and uncertainty other times overwhelming us so that WILL
over the recent pandemic we end up doing nothing at all.
Aprompted a general rush to Your will directs the distribution
prepare for the worst; toilet paper The alarm over the current viral of your probate estate upon death.
all but disappeared from my local outbreak should remind us all Pay particular attention to that
grocery store except for the brief that we live in a wonderful but phrase, “probate estate.” Your
early morning moment when the unpredictable and even dangerous probate estate does not include
store opened and the early risers world. Food, shelter, safety – and property that transfers automatically
quickly emptied the shelves again. apparently toilet paper – come upon your death. For example,
Similarly, long-lasting edibles and first, but preparing for uncertainty certificates of deposit, life insurance,
certain cleaning supplies quickly requires longer term thinking retirement funds, and assets may
became scarce. Regardless of the as well. Most of us have made have beneficiary designations.
likelihood of serious illness or few arrangements to give our Similarly, joint bank accounts and
death for any given individual, an loved ones the legal authority other jointly held property may have
immediate, tangible threat motivates to care for us and our affairs if survivorship provisions.
people to make their preparations we become unwell or binding FINANCIAL POWER OF
as quickly as possible. In contrast, instructions to ensure that they ATTORNEY
we often lack that urgency to plan carry out our wishes when we pass
for much more certain calamities away. Although one’s particular Generally, if you are eighteen or
further in the future, for example, circumstances or preferences may older, no other person has the legal
a debilitating injury, incapacity, or require more specialized documents authority to help you with your
death. In my own case and against and arrangements, most people personal and real property, banking
my cardiologist’s orders, I found should have at least a will, financial and other financial transactions,
myself, late one evening, drafting and medical powers of attorney, business operations, or much of
wills and other important papers a HIPAA release, and a directive anything else. By giving someone
for my wife and me because I faced to physicians and family. In very financial power of attorney, you
emergency bypass surgery the next brief terms, a description of each enable that person or persons to act
day. Fear does not always lie, but it follows below, but please note for you either out of necessity or for
often misleads, sometimes spurring that I strongly urge you to find an your convenience, but that person
us to do something, anything, and attorney to help you to draft and has no control over you, serves at
execute them.
46 Lubbock Senior Link
