Sep 3, 2023


The Importance of Health Care Directives- an Estate Planning Tool.

We often find ourselves planning for the future, whether it's our education, career, or retirement. But there's one aspect of planning that may overlooked, and that's how we want to be treated in various medical situations, especially at the end of our lives.

The Importance of Health Care Directives

Health care directives, also known as living wills, medical directives, health care proxies, or advance health care directives, allow us to express our preferences about medical treatment in extreme situations when we cannot communicate. These documents are not just legal formalities; they are expressions of our values, our beliefs, and our desires.

Living Wills

A living will is your written expression of how you want to be treated in certain medical circumstances. It may permit you to express whether you wish to be given life-sustaining treatments if you are terminally ill or injured, or whether you wish to be provided food and water via intravenous devices ("tube feeding"). It's a document that speaks for you when you cannot speak for yourself.

Health Care Proxy

A health care proxy, sometimes called a "health care surrogate" or "durable medical power of attorney," allows you to appoint a person to make medical decisions for you if you are unable to express your preferences. This person becomes your voice, carrying out your wishes as you have outlined them.

Why Have Health Directives?

The purpose of these documents is to ensure that your preferences are made known. Physicians prefer these documents because they provide a written expression from you as to your medical care. They also designate the person the physician should consult concerning unanswered medical questions.

But it's not just about the medical professionals. These documents express your wishes to your family so that they don't have to guess what you would want. Making your wishes known in advance prevents family members from making hard choices at what likely will be one of the most stressful times in their lives.

Organ and Tissue Donation

In many states, including Rhode Island, you can include in your advance directive your preference to become an organ or tissue donor at the time of death. This decision can be a tremendous help to those in need, and it's one more way you can make your values and wishes known.

Communication is the Key

Many people prefer to keep their legal documents private. But with end-of-life issues, communicating your wishes is essential. Talk to your physician, your family, and the person you appoint as your health care proxy. The more these individuals know, the easier it will be for them to fulfill your wishes.

Conclusion

Planning for our future is a responsibility we all share. And that includes planning for the unexpected. Health care directives are not just legal documents; they are a reflection of who we are and what we believe. They are a way for us to speak when we cannot speak for ourselves.


I encourage you to take the time to consider these directives, to discuss them with your loved ones, and to put them in place. It's a decision that reflects not just our individual values but our collective responsibility to one another.





Jun 29, 2023

Things to Know Before Declaring Bankruptcy

Things to Know Before Declaring Bankruptcy.

Declaring bankruptcy is a legal process that can help people who are struggling with overwhelming debt get a fresh start. However, it is important to understand what bankruptcy entails before you file. This blog post will discuss the basics of bankruptcy, including the different types of bankruptcy, what debts can be discharged in bankruptcy, and the impact of bankruptcy on your credit score.

What is Bankruptcy?

Bankruptcy is a legal process that allows individuals or businesses to get a fresh start by discharging, or eliminating, certain debts. This can help people who are struggling with overwhelming debt to stop debt collectors from contacting them, get rid of their legal obligation to pay off their debts, and prevent the termination of their utility services.

Types of Bankruptcy for individuals

There are two main types of bankruptcy: Chapter 7 and Chapter 13.

Chapter 7 bankruptcy is the most common type of bankruptcy. It is a liquidation bankruptcy, which means that you will sell off most of your assets in order to pay off your creditors. If you have enough equity in your home or other assets, you may be able to keep them, but you will have to pay off the debt that is secured by those assets.

Chapter 13 bankruptcy is a reorganization bankruptcy. This means that you will create a repayment plan that allows you to pay off your debts over a period of time. You will be able to keep your assets, and you will not have to pay off as much of your debt as you would in a Chapter 7 bankruptcy.

Chapter 13 bankruptcy can be a good option for people who have a steady income and who are able to make regular payments. It can also be a good option for people who want to keep their assets.

Debts That Can Be Discharged in Bankruptcy

Not all debts can be discharged in bankruptcy. Some of the debts that cannot be discharged include:

* Tax debt
* Child support
* Alimony
* Student loans
* Debts that were incurred through fraud or intentional injury

Impact of Bankruptcy on Credit Score

Bankruptcy can have a negative impact on your credit score. The length of time that the bankruptcy will stay on your credit report will depend on the type of bankruptcy you file. A Chapter 7 bankruptcy will stay on your credit report for 10 years, while a Chapter 13 bankruptcy will stay on your credit report for 7 years.

When to Consider Bankruptcy

Bankruptcy is a serious decision, and it should not be taken lightly. If you are considering bankruptcy, it is important to speak with an experienced bankruptcy attorney to determine if it is the right option for you.

Conclusion

Declaring bankruptcy can be a helpful tool for people who are struggling with overwhelming debt. However, it is important to understand the implications of bankruptcy before you file. This blog post has provided you with some basic information about bankruptcy, but it is not a substitute for legal advice. If you are considering bankruptcy, you should speak with an experienced bankruptcy attorney to get the best possible advice.

Here are some additional things to keep in mind when considering bankruptcy:

* Bankruptcy will stay on your credit report for up to 10 years.
* You may have difficulty getting a loan or a job after filing for bankruptcy.
* You may have to pay taxes on any debt that is discharged in bankruptcy.

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