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3 Things 5-20-24

Thing One



Item 5 From Our Five Favorites List



In keeping with our plan to discuss each of the five items on our favorites list, we’ll touch on the fifth and final item today. (See the full list below)



1) Credit cards are black holes.


2) Thirty years from now you'll wish you had invested more in stocks.


3) Put retirement first (not buying a house).


4) Insurance is a must.


5) You'll end up treasuring almost nothing you buy.



There are lots of ways to illustrate this idea, but we’ll get straight to the point and cover the topic with just a few sentences.



Most of things we buy (with a few exceptions) degrade in value. Cars, for example, depreciate, significantly, the moment we drive them off the lot. Our homes require constant maintenance to counter the effects of nature and time. But even if you have a collector’s item for a car or a sought-after property for a home, those are just things, and they’ll mean very little to you in the end when you’re looking back over your life.



You’ll likely care more about what you’ve been able to give away, in whatever form your giving takes (money, time, knowledge, love etc.) than about the big house you have, or the exotic car in your garage, or the fancy watch in your safe.



So don’t fall in love with things. The real treasure each of us has is the time we’re given each day, not the things we accumulate.



Thing Two



Looking Out For Those Who May Look Out For You In The End



Think about it - you've done a lot of life planning and preparation for your future and those you care about. You've worked hard, saved, invested, bought insurance, planned for retirement, and probably already have a will. But what about planning and sharing your health and medical wishes with your family - do your loved ones know what they are? If not, you may be putting them in the very unwelcome position of having to make critical and life-sustaining treatment decisions on your behalf. The fact is, by law, that's exactly what they will be required to do.



As uncomfortable as the subject may be, each one of us is susceptible to life-threatening conditions every day. Even though it's impossible to plan for every incident, having your medical and health care wishes established in a legal document can be very comforting for both you and those who care about you. That’s where Advance Directives come in.



What Are They?


Advance Directives are legal documents that are better known as either a Living Will or a Power of Attorney for Health Care. As a competent adult, you have the right to give consent for all your health care decisions. However, if for some reason you are physically unable to give consent for treatments or procedures, these documents will provide direction to your family and the health professionals who care for you.



The advances of modern technology and the human body's ability to sustain itself have created many new liabilities and difficult decisions for health care professionals. That's why it has become increasingly important for you to take a proactive role in the planning of your future medical treatment.



Living Will


In the event of a terminal health condition, this important document will give your health care professionals instructions about the type of medical treatments you wish to have. A Living Will is only acted upon when your physician, along with two others, agree that you will not regain consciousness or an acceptable state of health.



In addition, you have the option to name a trusted relative or friend as a Power of Attorney who, in these circumstances, is authorized to make health care decisions on your behalf.



Providing your family and physicians with an expression of your final health care desires will comfort your loved ones in a situation that will already be difficult and emotional.



Power of Attorney for Health Care


In this document, you will designate someone to make decisions about your medical care in the event that your medical condition leaves you unable to communicate your wishes. The person you name will be authorized to speak for you, not only when you are in a terminal condition, but any time a health condition occurs where it is determined that you are unable to make your own decisions.



You can also include instructions that establish the types of medical treatment you prefer, and under what circumstances you would like these decisions made.



If you’ve decided to get and Advance Directive you should:



• Initiate discussions with close family members, your physician(s), and the person you intend to name as your Power of Attorney for Health Care. This will help you clarify your wishes, and at the same time provide those close to you with important information for future medical decisions.


• Evaluate your health condition and make an effort to determine the possibilities of medical treatment you may need in the future. Use the guidelines you develop as a basis for your documentation.


• Complete and sign the document you have created, adding or modifying any wording to best describe your wishes. It is extremely important to follow and witnessing instructions that are on the form accurately. Most states require two "disinterested" witnesses. Be sure to cover your bases. Family conflicts, special circumstances or specific legal concerns may require additional legal documentation. In that case, you may want to consult an experienced attorney.



While we’re not attorneys and therefore can’t offer you legal advice, we can help you create these documents. All that would be left after you filled out (electronically) a form and answered a few questions would be for you to print the documents and have them signed by you and your witnesses. You may still wish to have an attorney review them after they are prepared, but in many states (including Georgia), the law says you do not have to have a lawyer prepare living wills and health care powers of attorney for you. Your documents need only to be clear, concise and within the guidelines of the laws of your state. Let us know if you need help with this. It’s a fairly quick process and can save your loved ones from having to endure headaches on top of heartache when the time comes.



Thing Three



Just A Thought



“You can take back all the things you give but you can’t take back the days you live” - Todd Anthony Shaw

Comments


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