Learn
End-of-Life Paperwork Everyone Should Do Now
You probably already have an overall estate plan, including a will and maybe some trusts, to protect your family's financial future when you are gone. But what about the financial and medical documents your family may need if you become physically or mentally incapacitated?
Few people enjoy considering what could happen during an emergency or at the end of life. But the longer you wait to address these issues, the more likely you are to put loved ones in a bad position if something happens to you.
If no one has financial power of attorney, it may be difficult for loved ones to handle your finances — including paying for the care you need. And if no one has medical power of attorney, loved ones face needing to make critical healthcare decisions without knowing your wishes.
You also may have heard the term advance directive as part of the endof- life planning process.1 An advance directive isn't a single legal document. Rather, it's a catch-all term for both legal documents and medical forms you can complete now to prepare loved ones to act on your behalf if you become incapacitated or are unable to make your own decisions.
Learn more about the types of paperwork you'll need to protect loved ones — and yourself — if something should happen to you.
Financial Power of Attorney
A financial power of attorney (POA) is a legal document that allows another person to make financial decisions on your behalf if you're unable or unavailable to do so.2
When you create a power of attorney of any type, you are giving your "agent" the right to take actions in your place. Once it is signed, a "durable" power of attorney gives your agent the responsibilities you've granted in the POA, even if you later become incapacitated.
The powers granted to the agent under a financial POA can be either broad (referred to as "general") or more narrow (referred to as "limited"). For example, you could state that the agent can handle your banking, but not conduct real estate transactions.
Forms for completing a financial POA are available online or from your attorney. Depending on the state where you live, the financial POA will need to be signed in the presence of a notary or witnesses.
Living Will
A living will is a legal document that states your preferences for medical treatment when you cannot make or communicate such decisions yourself.3 It helps make clear to your family, friends and healthcare teams what medical interventions you do — or do not — want to receive.
Your living will can address whether — or under what conditions — you'd want specific interventions, such as antibiotics, pain medication, CPR, a breathing or feeding tube or IV hydration. You can also state your preferences about organ and tissue donation.
Healthcare Power of Attorney
A durable power of attorney (POA) for healthcare is a legal document that allows the person you choose to make medical decisions on your behalf when you are unable to make them yourself.4 This person is called your agent or healthcare proxy. Although you will sign it when you are of sound mind, a "durable" POA for healthcare remains in effect if or when you later become physically or mentally incapacitated.
This process and document also may be referred to as securing a medical power of attorney or choosing a healthcare proxy.
Even if you decide not to complete a living will, you should designate a healthcare proxy.
An important part of making these decisions is talking with your family, close friends, medical providers, and legal professionals.
Selecting the right person to give this responsibility to is critical. That person should be someone you can trust with crucial decision-making and who will advocate based on your expressed wishes. The Conversation Project online offers a guide for choosing a healthcare proxy.5
POLST/MOLST
Other documents you may see referenced under the advance directive umbrella are portable medical orders, which go by several names, including POLST (physician [or provider] orders for life-sustaining treatment) and MOLST (medical orders for life-sustaining treatment).6
These medical orders tell what medical care or intervention you do or do not desire. While the topics covered are similar to those in a living will, the POLST/MOLST is a medical form, completed with your physician, rather than a legal document, completed with your attorney.
DNR
A do not resuscitate order, or DNR, tells medical staff that you do not want CPR or other lifesaving measures if your heartbeat and breathing have stopped. In a medical emergency, in the absence of a DNR, medical staff will attempt to restart your breathing and heartbeat.
HIPAA Access
Another important form that's simple to complete, yet could be easy to miss, is a HIPAA (Health Insurance Portability and Accountability Act) Right of Access Form, which gives your designated family and friends the right to receive protected medical information from your healthcare providers.7 This form comes in handy even in non-emergency situations.
Getting the Conversation Going
Establishing your advance directives is an act of deep care and concern for those you love. It's essentially a three-step process: making the decisions; putting them in writing; and then communicating them.
An important part of making these decisions is talking with your family, close friends, medical providers and legal professionals. You may find it takes several conversations to address all the questions and issues you have. You'll want to take special care in selecting your healthcare proxy (the person you'll grant your medical POA to), since they will be acting on your behalf when you're unable to make medical decisions for yourself.
Learn More
Sometimes the best place to start is by educating yourself. If you want to know more before talking to loved ones and professionals, here's a short list of places to start:
CaringInfo, a program of the National Hospice and Palliative Care Organization, offers meaningful resources for educating yourself on advance directives and other end-of-life topics, such as palliative care, hospice care and communicating with family and friends.8
The American Bar Association's Health Care Advance Planning Packet offers free resources on appointing a healthcare proxy.9
Each state has its own advance directive forms, which may provide detailed questions and prompts.10 These forms can help guide your planning with family and friends. They also include guidance for putting a medical POA (healthcare proxy) in place.
I've Completed the Forms. Now What Do I Do?
It's not enough to just complete the right forms. You also need to proactively provide them to your healthcare providers — and to loved ones who may need them some day to officially act on your behalf.
Also consider that your first point of contact may be an emergency medical team that arrives at your door. They won't know if you've signed a DNR or who to contact in an emergency. Consider posting a copy of your DNR, as well as a list of emergency contacts (like your doctor and your healthcare proxy), in plain sight — ideally near the door they are likely to enter.
Take Action Now
The best time to put advance directives in place is well before you need them. Don't let the variety of options keep you from taking action. The most challenging part of putting these documents in place is starting the conversations and making the decisions. After that, the rest is just completing paperwork — and conveying the information to the right people.
Important disclosure information
This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.
-
NIH National Institute on Aging, “Advance Care Planning: Advance Directives for Health Care," accessed June 5, 2023.
Back -
CaringInfo, a program of the National Hospice and Palliative Care Organization, “Power of Attorney and Caregiving: What are the types of Power of Attorney?," accessed June 5, 2023.
Back -
NIH National Institute on Aging, “Preparing a Living Will," accessed June 5, 2023.
Back -
American Bar Association, “Health Care Decision-Making," accessed June 5, 2023 and NIH National Institute on Aging, “Choosing A Health Care Proxy," accessed June 5, 2023.
Back -
The Conversation Project, “Your Guide to Choosing a Health Care Proxy," accessed June 5, 2023.
Back -
National POLST, “POLST Basics," accessed June 5, 2023.
Back -
American Bar Association, “Sample HIPAA Right of Access Form for Family Member/Friend," accessed June 5, 2023.
Back -
CaringInfo, a program of the National Hospice and Palliative Care Organization, “During serious illness, CaringInfo is here to help you make informed decisions about care and services before a crisis.," accessed June 5, 2023.
Back -
American Bar Association, “Health Care Decision-Making," accessed June 5, 2023.
Back -
CaringInfo, a program of the National Hospice and Palliative Care Organization, “Download and Complete Your State or Territories' Advance Directive," accessed June 5, 2023.
Back
Do you have questions or ideas?
Share your thoughts about this article or suggest a topic for a new one