As society has become more litigious, it has become commonplace for siblings, family members and friends to battle for control of the finances and care of their aging parents and loved ones.

Fortunately, there are steps that can be undertaken to minimize the risk of such controversies affecting a family. As is often the case, it is imperative that the potential solutions be implemented well before the problems begin.

In addition to the asset protection planning we offer at Enea, Scanlan & Sirignano, we counsel our clients (and their families) about the advisability of Advanced Directives to protect their financial and healthcare assets, in case of potential incapacity.

The use of one or more of these simple documents can help:

Power of Attorney (“POA”) – a written document in which one individual appoints another (or others) as his or her agent. The agent is given the authority to act on behalf of or in place of the principal for the purposes specified in the POA, (e.g., to manage his or her day-to-day affairs). A well-drafted and thorough POA is of great importance.

Health Care Proxy (“HCP”) – a written document which enables a competent adult to designate an individual to make all health care decisions for the principal when he or she is unable to make his or her own health care decisions, (e.g., incompetency). A HCP allows an individual to designate someone he or she trusts to make such decisions.

Living Will – a writing expressing an individual’s intentions concerning health care decisions, (e.g., artificial life-sustaining procedures). A Living Will is unlike a Health Care Proxy, which empowers the agent to act for all purposes.