Estate planning tips for dealing with a health crisis

Elderly Florida residents often experience major health problems that need emergency attention. Because of this, it is essential that adult children of aging parents have immediate access to estate planning documents.

A health crisis may prevent an elderly parent from making important medical and financial decisions. According to Money, aging parents need documents such as a financial power of attorney, healthcare power of attorney and a will. Another important document is a living will, which is also known as an advance healthcare directive. These documents help to ensure their medical arrangements and financial assets get handled properly. Estate plans provide a clear picture of how an elderly parent wants his or her end-of-life plan carried out.

Additionally, it is important for adult children to know the exact location of these papers. An ideal place includes a secure file cabinet or safety deposit box. In the event of a medical crisis, making quick decisions is a must. Adult children living in Florida or outside of the state can save themselves a lot of frustration during a stressful situation when they have to retrieve estate planning documents at a moment’s notice.

Being prepared for a healthcare crisis involves more than knowing the names and phone numbers of doctors, according to Forbes. Estate planning is a roadmap for managing a variety of affairs for an elderly parent. These include anything from overseeing bank accounts, digital assets and storage rentals to handling matters with financial advisers and attorneys. An estate plan that is specific, detailed and well-organized helps ensure everyone is on the same page when a medical emergency arises.