Estate Planning Steps to Take in an Emergency

The best estate plan is one you create well in advance of needing. If you do not have an estate plan in place when an emergency occurs, you and your family could be left scrambling for a quick solution. Though this is not the best way to create a plan, it is possible to take steps to protect your interests if you are suddenly faced with an emergency situation. Here are several tips to consider if you need to create an estate plan quickly because of an emergency.

Tip 1. Get immediate assistance.

If you had created an estate plan on your own schedule, you could’ve taken the time to read and investigate your options on your own. Armed with knowledge, you could have met with your estate planning attorney and been much more comfortable with your choices because you knew a lot more about the topic.

When you’re facing an emergency, however, you don’t have this luxury. You need to act soon, and you need to call an experienced Florida estate planning attorney as soon as possible. There are often deadlines, time limits, and important actions you need to take that have a limited time associated with them. If you delay in calling an attorney you could harm your chances of protecting yourself and your family.

Tip 2. Get medical details.

People faced with a medical emergency, such as those who are diagnosed with a terminal illness, need to have as much information as possible. If you have been diagnosed with a terminal condition you will want to know what your diagnosis is along with your treatment options, likely prognosis, and any other relevant facts that could help you make decisions.

Once you know everything you need to know about your medical condition, you can then begin crafting the appropriate advance medical directives. Through your medical directives you will give another person the ability to make medical decisions for you if and when you become unable to do so yourself. You will also be able to create a document that will state in detail what kinds of treatments you do or do not want to receive should you become incapacitated.

Tip 3. Create a list of assets and debts.

A large part of your estate plan will focus on your property. You need to have a good idea of what you own, as well as what you owe, in order to create an effective inheritance plan. If you are facing a terminal condition that does not give you much time, your options in inheritance planning will be more limited. Never the less, you will always want to begin with an inventory of your possessions and obligations.