ALZHEIMERS AND LEGAL ISSUES

Many legal issues and problems are eliminated by thorough planning prior to a family member's illness.  Health care powers of attorney and financial durable powers of attorney are essential.  If your spouse or parent becomes mentally incapacitated and he or she does not have appropriate powers of attorney in place, a court guardianship will be necessary to continue to manage financial affairs and make health care decisions.

A power of attorney for health care is a form of an advance directive.  It allows you to appoint an agent to make all health care decisions for you if you become incapacitated and do not have the ability to make health care decisions for yourself.  This document also allows you to authorize your agent to arrange for your admission to a nursing home or group home in the event you become incapacitated.  Your health care power can include all of the directions regarding life-sustaining treatment; you should complete a detailed addendum which includes a description of treatment preferences, etc.  The Wisconsin Health Care Power of Attorney Form is not a bad form; however, you can improve on this form and incorporate other important aspects, such as religious beliefs, by working with an experienced professional.

You should choose a primary health care agent and a substitute health care agent.  Choose a trusted individual and talk with this individual about your beliefs and preferences.

A financial durable power of attorney should contain an exhaustive list of the powers that you wish to grant your agent.  This financial durable power can be effective immediately and continue to be effective during any period of incapacity, or the durable power can become effective only upon your incapacity.  This power of attorney should include special provisions for tax planning, gifting, executing marital property agreements and dealing with retirement plans and accounts.

The agent is given tremendous authority; these powers could be abused.  It is important you choose a trustworthy individual.

This is also an appropriate time to organize your estate.  Review life insurance policies, IRA accounts, retirement accounts and annuities - do you have appropriate primary beneficiaries and contingent beneficiaries?  Make a list of all investment or bank accounts.  An easy method is to copy a recent monthly statement and place it in a folder which can serve as a reference point for an agent taking over financial matters in the future.  Update the folder on an annual basis.  Do you have a Will - is it current?  Future capabilities to discuss these issues are an unknown.

Dealing with an illness or incapacity of a family member can be a difficult and emotional time.  Implementing appropriate documents and putting your wishes and preferences in place in advance will alleviate future stress and could prevent financial hardship.  Getting started is difficult; working with a qualified professional can make this process much easier.  For more information, please visit our website at www.lawmwc.com.

Attorney Terry L. Campbell
Moertl, Wilkins & Campbell, S.C.
Suite 1017, 330 East Kilbourn Avenue
Milwaukee, Wisconsin  53202-3163
(414) 937-5019