At some point in life, many people will need help in managing their affairs or in taking care of themselves. This can happen at any age and for many different reasons. It’s most likely to happen, as you grow older, especially in the years prior to death – a time often characterized by increasing mental and physical decline. Many individuals are disabled six months or longer before they die and may be unable to make their own decisions. A variety of legal documents are available to assist during these periods; some provide temporary help, others offer more permanent assistance. Planning ahead enables you to make important decisions about how your personal and financial affairs will be handled if you are unable to manage.

There are numerous issues to consider including:

• What end-of-life decisions might you or your family members face?
• How can you best prepare for the potential of mental or physical incapacity?
• What planning tools, including the creation of legal documents are available?
• Older people and their families also need to consider a variety of choices such as long-term care, guardianship designation, power of attorney, and dispersal of property and household items.
• Who will execute the last will and testament?
• Likewise, choices need to be made regarding heroic measures to prolong life and the possibility of organ donations.

These are not pleasant issues but when possible, the family needs to plan ahead. Discuss the issues with your family or persons you trust. Early discussion helps to avoid decisions that are in opposition to one’s lifestyle and wishes, as well as decisions that are unacceptable to family members or significant others.

Legal documents such as advanced directives are available to enable you to exercise more control over your life.

Advanced Directives

An advanced directive is any written document signed in advance, which gives explicit instruction regarding healthcare treatment or which names someone to make such healthcare decisions for you, if you are unable to speak for yourself. Advance directives usually take the form of a living will, healthcare surrogate, or durable or springing power of attorney.

Living Will

A living will is a document that assists an individual in making his or her wishes known regarding life-prolonging treatment and “artificially provided nutrition and hydration.” Generally, a living will is quite limited in applications. A living will allows individuals to prepare in advance for the time that they can no longer actively participate in making decisions about their healthcare. Typically, you and two other people must sign a living will; each must be at least 18 years old, of sound mind, and of no relation to you. They cannot be your doctor or employed by your doctor. They also cannot be employed by the healthcare facility where you are a patient or anyone responsible for paying your medical bills.

Some states will accept a notarized living will. Be sure to keep at least one copy in a safe, easily accessible place. You may wish to carry a copy with you when you travel. Your wishes may not be honored in another state or country if they conflict with existing laws of that state or county. The rule of the state where the treatment occurs controls not the state where the living will was signed. Nevertheless, even if the living will is not honored in the treatment state, it is valuable evidence of the patient’s wishes. It’s also a good idea to provide a copy of your living will to your physician for your medical record and to relatives with whom you might live or visit.

A national study recommends that you (or your healthcare surrogate if you are incapacitated) discuss these issues with your attending physician and have noted in your chart that you have a living will. This will help in the event of an emergency that occurs at the time when your physician is not in the hospital. Otherwise, heroic measures might be taken which you have specified that you do not want implemented. The study also showed that your living will should spell out which heroic measures you do not want taken.

Healthcare Surrogate

A healthcare surrogate is a trusted person you name to make medical and health care decisions when you are unable to do so. The naming of the surrogate is very important. Surrogates must know your values and wishes intimately, because they serve as your voice and advocate. In most states, you can designate a healthcare surrogate in your living will.

There is a growing trend across the country to combine the living will and healthcare surrogate (which is also called a healthcare power of attorney) into a single comprehensive document. Such a document ensures that the majority of health care decisions for individuals lacking capacity, such as day-to-day care and placement and treatment options, are covered.

At minimum, both a living will and health care surrogate should be executed at the same time. Generally speaking, a living will merely states your desires about life prolonging treatment when you are considered terminal, while a health care surrogate makes medical treatment decisions for you if you are unable to make them for yourself.

Organ Donations

Many people die each year while waiting to receive an organ transplant. While in recent years the supply of donated organs has increased, the number of transplants performed has also increased. Unfortunately, there is still a great shortage of donor organs.

Some individuals simply do not make their wishes to donate their organs known. Others may believe their religion does not allow for organ donations, and cite a religious reason for not electing to donate their organs. Most religions permit their followers to donate their organs to allow another’s life to be spared. If you have questions on these issues, check with your religious leaders. If you decide to donate your organs upon your death, you need to make your wishes known to others and note this on the back of your driver’s license, following the proper procedures for your state.

Written by: Dr. Jo Turner, Professor, Family and Consumer Economics

An earlier newsletter focused on healthcare surrogate and living wills. This newsletter will continue to examine legal documents available to help plan how your personal and financial affairs are to be handled when you are unable to take care of them.

The Durable Power of Attorney

The durable power of attorney is a more comprehensive document since it can give an individual or individuals decision-making power when your are disabled or unavailable to handle your affairs. It can cover healthcare decisions and personal matters, but is usually covers financial decisions if you become incapacitated. You might feel more comfortable having someone else manage your financial decisions because of his/her expertise. On the other hand, you might want to grant durable power of attorney to the same person you name as your healthcare surrogate. Your doctor and attorney can assist you in specifying which medical procedures and treatments you want and which you do not want. It is wise to do this now when you are young in case of an accident or other unforeseeable tragic event.

Patient Self-Determination Act

This legislation has been passed to inform an individual of his/her rights to exercise more control over his/her life. Under this act, healthcare facilities must inform all adult patients of their rights to create an advance directive, such as a living will, designation of a healthcare surrogate or durable power of attorney; explain the facility’s policies for carrying out patient decisions; and provide education for staff and the community about advance directives, including when and how they may be used. This law, although very important for the terminally ill, applies to any person using the healthcare system. The law states that hospitals, hospices, nursing homes, and all other healthcare facilities that receive Medicare funding must provide patients with written information regarding their rights to accept or refuse any medical treatment.

Representatives You Choose

Substitute Payee

A substitute payee is typically used only for the purpose of providing you with help in cashing and writing checks. Your bank will provide you with the appropriate forms for designating a substitute payee.

Representative Payee

A representative payee is used in a government benefit program such as Social Security. The person asking to be named as representative payee must file an application and must provide the Social Security Administration with evidence of the relationship to the person to whom the checks are made out. The representative payee must use the payments for taking care of the Social Security recipient and must submit a written report on how the funds are actually spent.

Court Appointed Representatives

In some cases, a court will appoint a representative for an individual who can no longer handle his/her affairs and who have not made arrangements for executing his/her wishes. For this to happen, the court must conduct a trial by jury to determine the individual’s ability to manage personal or financial affairs. While the specific terms of these positions vary from state to state, they are found nationwide. If a person is judged to be incapable of managing his or her affairs, the court may appoint another person to one or both of the following positions:

Conservator. A conservator is the person who has control in managing the business and financial affairs of an individual for reasons of mental illness or another incapacity. This person can provide assistance either temporarily or permanently depending on the duration of the disability.

Guardianship. Guardianship can be granted for any person who is incapable of managing his or her personal affairs. A district court appoints an individual to act on behalf of the disabled person.

Written by: Dr. Jo Turner, Professor, Family and Consumer Economics

A letter of last instructions is an informal document and one of the first things your family will need to locate after your death. You don’t need an attorney to prepare it. The purpose of this letter is to give your personal representative or family member information concerning important personal and financial matters. Although this letter does not carry the legal weight of a will, it is very important because it clarifies requests to be carried out upon your death and provides essential information, thereby relieving the surviving family members of needless worry and speculation. Your heirs will be grateful for this information.

When writing your letter of last instructions use the following list as a guide and provide in detail, such information as names, addresses and telephone numbers.

Notification

Prepare a list of people to notify of your death. Include family members, acquaintances, and organizations. Also include professionals: your accountant, attorney, broker, employer, executor, financial institutions, insurance agents, newspapers to receive obituary information, Social Security Office (include Social Security Number and location of Social Security card), and veterans administration if appropriate.

Funeral Arrangements

Describe the arrangements you have already made and those that your family must make.

Specify your wishes on the following: Organ donations, autopsy if requested, embalming, public viewing, burial type, and cost. Remains are they to be donated (detail of arrangements made), cremated (and the ashes: scattered, buried at, disposed of as follows [provide details]), or buried. Type of service and where, specify memorial gifts or flowers. If prearrangements have been made give details.

Include the number of death certificates that will be needed to collect insurance and other benefits usually 6 to 12.

Put together information the funeral director will need such as your full name, address, marital status, spouse’s name, date of birth, birthplace, father’s and mother’s name and birthplaces, name of next of kin (other than spouse), length of residence in state and in United States, military records/history, Social Security number, occupation, and life insurance information.

Personal Papers

In your letter give the location of all of your personal documents including your will; birth, baptismal, and marriage certificates; communion and confirmation certificates; diplomas; military papers; naturalization papers; and any other documents such as divorce or adoption papers.

Insurance

List all of your insurance policies by type (life, auto, home, veteran’s medical, and credit life), company name and address, policy number and insurance agent. Don’t forget insurance policies through your employer and/or financial institution. Include a description of any loans that you have taken out against a policy and not yet repaid. Also include the location of each policy.

Personal Effects

Provide a list of your personal effects and who is to receive each. Include such detail as to who is to receive your golf clubs, gold watch and clothes. It is better to have these in a letter than in the will.

Household Contents

List the contents of your house and name of owners, form of ownership and location of documents, inventory, and appraisals.

Automobiles

Tell where the registration and other papers for your automobiles and other titled property may be found.

Taxes

Include in your letter of last instructions the location of your income tax returns for the past five years.

Boxes

Be sure to give the location of your safe deposit box, a list of the contents, and where the key is located. Also provide the location and number of any post office boxes that you have. Tell where the key(s) or the combination of the box(s) may be found.

Credit Cards

List your credit cards by issuer and by card number. Request a copy of “Credit Card Safety Record” from your local county extension office to make this task easier or download from the web.

Homeowner Records

Give the location of the deed and mortgage papers on all property that you own. Provide information on taxes, liens, leases, etc.

Investments

Make a list of all stocks, bonds, and other securities by certificate number, issuers, and cost. Tell where the documents are located, identify stockbrokers with name, address, and telephone numbers.

Trusts

Make a list of all the trust that you have established. Give the name, address of the trustee, and identify the type and size of the trust.

Loans

List all loans and other accounts that you must repay. Give full information on terms, payments, collateral, and etc.

Bank Accounts

List all your checking and savings accounts by name and institution, address of the office where the account is located, the type of account and the account number. Include the location of canceled checks and statements.

Debts Owed You

Make a list of all the debts owed to you; include full name, address and telephone number of the debtor, payment terms, collateral, etc.

Survivor’s Benefits

List possible sources of benefits such as Social Security, veteran’s, employee, fraternal association, and credit life insurance. Include how much to expect from each source.

Other

Provide the location of receipts, warranties, and other miscellaneous papers. Explain any unusual provisions of the will, such as disinheritance of a child or forgiveness of a debt.

Write your letter clearly so that even a stranger could understand it. Also be sure that your letter does not contradict your will. If you are in doubt, check with your attorney. Since this letter describes your finances in detail give a copy of the letter to your personal representative. Be sure to sign and date your letter of last instructions and keep it separate from your will.

Written by: Dr. Jo Turner, Professor, Family and Consumer Economics

The old cliché that the only thing certain in life is death and taxes should give us cause to get our affairs in order. As we all know the death of a loved one is a time of confusion and emotional upheaval.

It is important that the next of kin know where to find records that will be needed when you are gone. By listing important records and their location you can ease the stress on family members.

Develop a list of important documents. By each document on the list indicate where the original of the document is stored. You may want to use a code to represent the location. For example, you may have the original copy of your birth certificate, military papers and your will in a safe deposit box at the local bank with a copy in your at home file system. You may have more than one copy of a document such as a living will. If you are older and spend time with children, friends or other relatives you might want to make sure they have copies of important documents, in case you forget to bring such copies with you when you visit.

This checklist of important documents (PDF) is a list of documents and suggested storage locations. Note it is important to have a list of your important documents. Some documents on this list may not apply to you. Complete your checklist and let the family members or member you have delegated to handle your affairs know where the checklist is located. You may want to leave a list with your attorney. Having a checklist not only will help your survivors, but it can also help you in the future to locate one of these documents for other purposes.

Your list should include important names, addresses, and telephone numbers that may help your survivors in dealing with your affairs. Be sure to list an entry for each person or place noted on Your Checklist of Important Documents.

Keep the original checklist with your will so that your personal representative or executor has access to it. Give a copy of your checklist to individuals who have copies of your important documents, such as your lawyer or personal representative. Keep copies of documents in your home file for easy access and others in a safe deposit box for security.

For more information contact your local county extension office.

Disasters are a part of life. Whether the disaster is a hurricane, tornado or a terrorist attack preparation is the key to survival and to clean up after the event. Knowing where your family records and valuable documents are and being able to pick them up and take them with you, if you must evacuate, can save valuable time. For your “on the go” papers you will want to purchase a packet, folder, brief case or other carrying case for your documents. Place documents in this case in a secure but easily accessed location in your home. Then if you need to evacuate, important documents that need to go with you are in one place.

If you have access to scanner, you may want to scan your papers and documents to a computer disk and keep the copy in the carrying case and leave the original in the recommended storage place. You may also want to videotape the contents of your home to supplement your household inventory. If you use a software package to keep track of your finances you may want to keep a back-up copy with your “on the go” papers.

Important Papers and Documents Checklist

What are important papers?

Important papers are papers or documents that you will need sometime during your lifetime for a variety of reasons, such as a birth certificate; used for proof of age, citizenship, to obtain a drivers license, or to go on a cruise.

Other important papers include household inventory; adoption, marriage and death certificates; passports; deeds; leases; insurance policies; social security records; contracts; wills; trusts; and ownership papers.

Why should you be concerned about important papers?

In case of a disaster, it would be difficult to remember or identify exactly what you lost. Valuable time and money could be lost while you try to remember what possessions you owned or replace lost documents. Therefore it is much better to protect valuable papers than to replace them.

Who should keep up with important papers?

Even though all family members need to know where the family’s important papers are located, one person should handle the family’s record keeping system.

Where should they be located?

Essentially there are three places where important papers should be kept. Some should be kept on your person, some at home in a file system and some in a home safe or a safe deposit box.

What is a safe place?

It is generally accepted that a home safe or fireproof file should be able to withstand heat of 1700 degrees F for one hour.

Another option for a safe place is to rent a safe deposit box at a financial institution. The rental cost is relatively small when compared to the possible loss that could occur from a fire, hurricane, or other disaster. If you store income producing property such as stocks or bonds in the box, the rental fee maybe deductible from your federal income tax. If you choose to rent a safe deposit box, the following tips will help you get organized:

• Inventory documents in the safe deposit box and keep the inventory in a safe place in your home. Keep the inventory current. Set aside a time each year to update your records. When you do your income taxes is a good time to do this task.
• Check your homeowner’s insurance coverage to find out if it covers the contents of your safe deposit box. Also check the agreement you sign with the financial institution for any limitations on the protection.
• Keep family members informed about the location of the box and where the keys are stored.
• Even though it is not the practice in Florida to seal safe deposit boxes when the owner dies, it is still not a good idea to put burial lot deeds or burial information and wishes in the safe deposit box, because the box may not be opened until after the funeral.

Written by: Dr. Jo Turner, Professor, Family and Consumer Economics

disaster, hurricane, finances

Dr. Jo Turner, Professor, Family and Consumer Economics

Earlier articles focused on documents available to help plan how your personal and financial affairs are to be handled. This article will examine other important legal documents.

Power of Attorney

A power of attorney is used when you can still make your own decisions, but you want someone else to act on your behalf. It gives another individual legal authority to manage some or all of your personal affairs. A power of attorney is created in a signed document that states who is the principal agent for you. It also describes what powers are being given on your behalf. A power of attorney does not necessarily go to an attorney, but can be any trusted individual who can act on your behalf. In most states he or she does not have to reside in the same state as you.

You need to be specific about what decision-making power you grant with the power of attorney. The power of attorney maybe very limited. You may allow someone to make a deposit into or withdraw money from your bank account or represent you in the selling of your house. In that case you need to be careful to limit the power of attorney’s action. The power of attorney can be very general and broad to cover any activity that you could do for yourself. The power of attorney may end in several ways:

a) When you remove the power of attorney. (This can be done at any time.)

b) When the individual has completed the designated task;

c) If you become unable to make decisions, and/or

d) Upon your death.

Will

The main purpose of a will is to carry out your wishes in disbursing your property (assets) and to allow you to identify guardianship for a minor child, or incompetent child or adult. Without a will, state law will guide the distribution of assets among your relatives including the decision of who will be designated as the guardian for individuals who need such oversight.

Trust

A trust is a legal document in which legal title of property is held (home, investment, etc). A person or institution (trustee) then manages the property for the beneficiaries. This relieves the burden of managing finances from an individual who is inexperienced in handling finances. It allows the individual to decide how and when money will be disbursed from one generation to the next. A trust also allows the estate to avoid the risk of a will being contested. A trust can shorten the time it takes to distribute property to heirs as well as providing privacy for financial affairs. A personal trust is also advantageous in the event that you become incapacitated. In addition it avoids the process of going through probate court.

A trust will not suit everyone’s needs, and you should consult an attorney before deciding to set up a trust. You must weight the cost of setting up a trust verses the benefits a trust can provide you. In most states, the probate process is usually simple and relatively inexpensive for small estates.

Letter of Last Instructions

Upon your death, your loved ones will need information to collect death benefits and settle your estate. Last instructions should include your full name, birth date and place. It should contain the location of important records, such as marriage certificates, Social Security papers, life and other insurance policies. It also should contain the location of any other legal documents, including your will, deeds to property, automobile titles, and income tax records for the last seven years. In addition your letter of last instructions may include specific directions for funeral arrangements.

Senior Highlights: Accepting the Reality of Your Death

Written by: Jo Turner, Professor, Family and Consumer Economics

Just about everyone I know has lost a family member or friend to death. There were five children in my mother’s family, three of them died in the first nine months of this year. Death is a reality for all of us. Even though you watch what you eat, exercises regularly and have annual checkups, this is still not enough to keep from becoming a statistic.

On any given day at least 130,000 people worldwide die. Some die of disease; others from starvation, murder, acts of war, accidents, or the easing away of the body after a life well lived. Some deaths are violent, others peaceful.

This is the first of a series of articles dealing with concerns of older Floridians that offer ideas and planning suggestions that will help make the older years golden and ease the pain of loosing a loved one.

Death may be just around the corner. Although we don’t like to think about it, each of us has a terminal condition. The meter runs. Some have five weeks, others decades. But every one of us has only so much time to live.

It is important that we come to terms with our own death. Unless we do so, we will have a limited ability to assist and understand those who are dying and those grieving the death of a loved one. Accepting your death will help to ease your fears and enable you to offer more peace and comfort to those struggling with death and loss.

Coming to terms with your own death also puts life in perspective. You see more clearly what’s important and what’s not. As a result, you are more likely to focus on values and goals close to your heart. Surprisingly, you may even find that you feel calmer and more alive.

Make peace with death. Take some time alone to ponder several or all of the following items. Go slowly, so that you can visit with the questions in a heartfelt way. Then discuss your responses with a good friend or family member.

• If you discovered you were going to die later today, would you make any phone calls? To whom? What would you say?
• Do you believe in God or another higher power, or a vision that lends purpose and meaning to your life?
• Do you have a philosophy on life or why we exist?
• Are you willing, given the limited time available to you, to say what’s on your mind? To do what you think is important? To stop hiding behind pretensions and facades and be the real you?
• What things are most important to you? Does the way you use time and set priorities reflect your most deeply held values?
• Are there changes you would like to make in the way you live routinely?
• Can you imagine your own death and write an obituary that expresses how you would like to be remembered?
• Do you sense in your most important relationships any unfinished business? A troubled relationship you’d like to heal? Love ones to which you might better express your feelings? Someone to whom you want to apologize or express thanks?
• Does the thought of your own death frighten you, or are you at peace with the idea? What do you believe happens after death? What could you do to better prepare yourself for dying when the time comes?
• What do you like best about your life? Consider how you are blessed. Ponder opportunities you might want to pursue.

Using Death to Enrich Life

Lawrence LeShan, author of Cancer as a Turning Point, believes each of us had a dream that burns brighter than all the rest. Some times we know this as a “passion.” “Those who have the courage to follow their heart live significantly healthier, richer lives,” LeShan says. He also suggestss the following three-part exercise as a way of exploring and perhaps living your dream or passion:

Imagine that six months from now, your outward life – the work you do, the place you live, the person or people you live with, the way you spend your time – can be exactly the way you want it. Describe what your ideal, outward life is like.

Think about your ideal inner life. Six months from now, what attitudes, gifts and abilities would you like to have acquired, developed or strengthened?

Consider your responses to the first two items. What efforts have you made recently to realize these things? What elements of your personality make such changes difficult? How might you overcome these internal obstacles?

Properly understood, death becomes an exquisite teacher, throwing life into sharp perspective and encouraging us to achieve our fullest potential. Death reminds us our time is limited, that it’s important not to put off those things we value most, that each moment is fresh and precious opportunity.

death, grief