In view of life’s many uncertainties, rumor has it that death and taxes are inevitable. It may also be considered a maxim that everyone needs some type of estate planning, which is by its nature intrinsically entwined with the aforementioned certainties of life. Estate planning in its broadest conception is a means by which we may determine, while living, who shall receive our property when we die. It may also be stated with conviction that it is better to have some type of estate plan than not, if only to ensure that our prized baseball card collection goes to our favorite niece or nephew. 

Tragic spectacle though it was, the recent Anna Nicole Smith legal proceedings may provide some enlightenment to those who heed its message: Make your testamentary wishes known and memorialized through some type of estate plan, whether by way of trust, will, power of attorney, and or a advanced health care directive.

Through relatively simple and inexpensive estate planning a person may determine who shall receive their property or care for minor children or pets in the event of death. Additionally, one may also predetermine the person they wish to make decisions on their behalf regarding management of property and business affairs, as well as, health care matters, when one is no longer able to make such decisions. 

In light of the recent and very public Terry Schiavo matter, which involved a health-care/final wish situation....each of us should, at a minimum, have some version of health care directive prepared. While a health care directive typically deals with medical issues, it may also set forth your personal, emotional, and spiritual wishes. As a practical aspect of a health care directive, in considering the relevant issues, you discuss with family, friends, and doctors how you want to be treated in the event of serious illness. A health care directive may also relieve the burden on family members and protects them from facing difficult decisions without guidance from you. The specific provisions of a health care directive can be as detailed or general as you wish. Generally, you may indicate exactly what type of medical treatment you want or don’t want and in what type of situation you want life-support and what life support means to you. Perhaps the most important decision arising from a health care directive is choosing the right person to be your health care agent. The health care agent may be entrusted to make choices about medical care or services, interpreting instructions given in the directive, arrange for admission to a hospital, hospice, or nursing home, view and approve release of medical records should it be necessary, and take any necessary legal action in order for your wishes to be followed. 

There are many versions of health care directives with a variety of titles. In general, regardless of the type of directive you elect to proceed with, make sure it is signed and witnessed or acknowledged properly so that it is legally valid, retain a signed copy in your home so that it can be found in the event of an emergency, let your doctor know of your wishes and provide a copy of the directive to be placed in your medical records, and provide copies to family members and your health care agent.

While it is an aspect of human nature to avoid painful or difficult situations, it is also a human characteristic to prepare for the future and emergencies. Having to face our own death and associated issues can be a daunting task that many of us put off and avoid indefinitely. However, once the issue of our own demise is dealt with directly and some simple arrangements made, there is that a sense of relief experienced when a long-delayed task having dwelled in the back of the mind for some time is at last completed. It is never too soon to begin the estate planning process and problematic situations can often be avoided if plans are made before issues of capacity and competence arise. Even if you are not retired yet, it is not too early to establish some type of estate plan. In the case of a revocable or “living” trust, you can make any modifications you wish while you are alive such as adding property or changing beneficiaries. So, as your life changes over time it is relatively easy to adjust your estate plan accordingly.