Although most Michigan residents probably do not want to think about worst-case scenarios where they will have to rely on the care or decision-making capacity of someone else, it is still very important to plan for this potential occurrence before the need arises. Creating a power of attorney when in sound mind and good health can give people the ability to protect themselves and retain control over the lives, healthcare or finances even when they may be physically unable to exercise it themselves in the future.
Why should I worry about long-term care planning?
Most Michigan resident are accustomed to the idea of planning for the risk of loss in certain situations. For example, people purchase car and home insurance to protect themselves financially if they are involved in a serious accident or experience severe damage to their home. However, many people fail to engage in long term planning, even though the need is quite significant.
Preparing for your death with a will is critical
After a person's death, there are often a number of things that must be resolved in the process of settling affairs. The considerations and issues involved in settling a person's affairs are different depending on when he or she dies. For example, settling the estate of a wealthy person who died after a long life will require different things than settling the estate of a person who died while young with small children.
