Building an effective estate plan calls for more than simply considering who will receive which
assets upon death. A truly effective estate plan also makes provisions for your own future as
well. Addressing who will make decisions for you in the future should you be unable to is a
critical element of an effective estate plan. A durable power of attorney allows you to designate
a particular person as being authorized to make certain decisions for you such as those
regarding:
Finances – One day we may need someone to take responsibility for our finances. Many
people live long after they are no longer able to manage their finances. Choosing who will take
on that responsibility for you now can allow you to make the best choice. It can also provide you
with peace of mind that should you need someone to assume such a role, it will be someone
you trust.
Health Care – Deciding now who will make health care decisions for you in the event of
incapacitation allows you to choose that person. For some, the responsibility of making health
care decisions for a parent or other loved one may be too much to handle. Choosing now allows
you to consider all options as well as allows that person to prepare for that role if it should
happen.
Healthcare Power of Attorney
A Health Care Power of Attorney or Appointment of Health Care Representative is a document
that sets forth a list of individuals that you delegate authority to make health care decisions on
your behalf if you are unable to do so. In the event you are incapacitated and unable to consent
to health care measures on your own behalf, these documents will ensure that the individuals
you select make those decisions for you and that they are guided by your wishes. Without a
health care power of attorney, your loved ones may need to seek guardianship through the
court system to make decisions about your care.
What documents are needed?
3 documents used to make healthcare decisions in the state of Indiana:
- The Health Care Power of Attorney
- Appointment of Health Care Representative
- Living will
You should consider who to name as your health care representative. Usually, this would be a
spouse or an adult child. Keep in mind that the health care power of attorney also acts as a
HIPAA release, meaning that the person holding the power has access to your health care
records.