Fortunately, through sound estate planning, it is possible to address medical treatment and financial affairs in the event of incapacity. In Texas, this is done through an advance directive, health care power of attorney, and financial power of attorney.
Advance Directive
An advance directive in Texas is called a Directive to Physicians, Family or Surrogates. This is commonly known as a living will. This document lets you make your wishes regarding your medical treatment known in the event that you cannot make them known yourself, due to an injury or illness. In the document, you can specify the types of life-sustaining treatment that you would like to receive if you are in a persistent vegetative state or develop an irreversible or terminal medical condition (rendering you unable to communicate). This document allows you to specify your wishes regarding the use of respirators, feeding tubes and other methods that artificially prolong your life.
Medical Power of Attorney
Another important document to execute as part of your estate plan is a medical power of attorney. In this document, you appoint a trusted person to make medical decisions on your behalf. The medical power of attorney does not affect your ability to make medical decisions in normal circumstances. Instead, it only becomes effective if your doctor certifies that you are incompetent to make your own treatment decisions.
In the medical power of attorney, the person you appoint (your agent) must follow any instructions that you have placed within the document and must obey any living will that you have executed. You have the option of limiting the scope of your agent’s power. However, in the absence of any limitations, your agent may make the same decisions regarding your treatments as you could, if you were able.
Financial Power of Attorney
Aside from dealing with medical treatment, estate planning is vital to ensure that your finances are managed in the event of your incapacity. This can be done by executing a durable power of attorney. In this document, you appoint an agent to manage your financial affairs (sign contracts, pay taxes and bills, and manage investments) on your behalf, if you ever become unable to. Like the medical power of attorney, the durable power of attorney does not go into effect until you are incapacitated and allows you to set limits on your agent’s powers.