Attorneys in New Haven often see the results of what happens when someone does not realize the importance of planning for the possibility of an unexpected disability. Sure, clients come to their lawyers ready to plan for what to do with their retirements, or how they would like to see their estates managed after they have passed away. Unfortunately, many of them never consider what will become of those dreams should a disability be in their futures.
A major disability can drain a family. The emotional repercussions are certainly difficult in and of themselves, but when the financial burden comes into play, things can get even more overwhelming. These two factors can create a self-perpetuating cycle where financial difficulties feed the emotional strains and vice versa. Planning for the possibility of a disability will not necessarily prevent an unexpected illness or injury, but it will aid in dealing with the fallout should it happen.
Of course, a wills and trusts attorney in New Haven will likely point you toward purchasing disability insurance. This can be very beneficial in preventing some of the cycle mentioned above. There are many different benefits and types of policies, and your attorney can help you determine what is right for you.
In choosing your policy, there are several things you will want to consider, including:
- Medical costs
- Loss of income
- Monthly expenses
- Caregiver’s expenses
- Modifications to your home
- Transportation
Preparing for a potential disability is not limited to financial issues, either. There are other very important decisions that you may want to make in advance. For example, do you have an advance health care directive in place? This document gives the person of your choice the authority to make medical decisions on your behalf. This could become extremely important if you are either physically or mentally incapacitated and cannot make decisions on your own.
To assist this person in following your wishes, you’ll also want to have your lawyer help you create a living will. A living will is a fairly in-depth document that allows you to record your wishes regarding a variety of medical interventions, as well as end-of-life choices. Having this document available can take considerable burden off of your family and caregivers who may be in shock or simply unsure of what your wishes would have been in a given situation.
Wills and trusts attorneys in New Haven do their best to help clients prepare for all kinds of situations. Putting some thought, effort, and money, into planning for an unexpected disability is a thoughtful and smart investment. If you would like more information about planning for disability or you are ready to get started, please feel free to call our office at (203) 877-7511 and ask to schedule a consultation with the mention of this article.
