Legal and Financial Planning

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Finances and Insurance

Making financial plans and digging through insurance policies can be overwhelming. Still, it is very important to understand what is paid for. It may also be helpful to meet with a financial advisor or planner who can walk through possible sources of funds with you. Figuring this out now helps your loved one to express their wishes and prevent possible financial complications from happening. Be sure to meet with an attorney to ensure all legal paperwork is completed correctly and follows state guidelines.

End-of-Life Planning

It can be tough to talk about end-of-life matters, but it’s necessary for both you and your loved one. It‘s important to ask your loved one what their wishes are as early as possible. Having the right documents in place ensures your loved one gets the care they want as the disease progresses and gives you peace of mind that you’re doing the right thing.

Advance Directive for Healthcare

Having an Advance Directive for Healthcare reduces the number of hospitalizations you or your loved one is likely to have and reduces the amount you’d have to pay. It lets your loved one pass the way they want. An Advance Directive for Healthcare spells out the treatments your loved one would want to receive if:

Important Terms to Know

This is not a complete list of important documents to know, and is not legal advice. It’s best to check with an attorney to determine exactly what documents are needed to ensure your loved one’s wishes are able to be carried out.

Living Will – This is a legal document that tells others what your loved one’s personal choices are about end-of-life medical treatment. In Georgia, the Living Will has been replaced by the Advance Directive for Healthcare. Make sure to check for your state’s end-of-life treatment plans.
Advance Directive for Healthcare – This states what medical treatment your loved one does or does not want if they lose the ability to make decisions themselves. In Georgia, it replaces the Living Will. Your loved one must complete this form, which you can find on the Department of Human Services website, on the Division of Aging Services page.
Healthcare Agent, also known as Durable Power of Attorney for Healthcare (DPA-HC) – When someone is made your loved one’s power of attorney for healthcare, that person can make healthcare decisions for them. The Healthcare Agent is stated in the Advance Directive for Healthcare.
Five Wishes document – This document can replace a living will or advanced directive in Georgia. Advance directives are often overwhelming. The Five Wishes document helps outline your loved one’s goals and wishes in a simple document. You can find the Five Wishes document on the Five Wishes organization website.
POLST (Physician Orders for Life-Sustaining Treatment) – This form does not replace other forms. However, it allows you to describe:
- What treatments not to use in case of medical emergencies
- Under what conditions certain treatments can be used
- How long treatments may be used
- When treatments should be stopped.
- A POLST also indicates what advance directives your loved one has and who serves as their healthcare agent. Many people do not have a POLST. Your loved one must complete this form, which you can find at the Georgia POLST Collaborative website.
Do-not-resuscitate order (DNR) – This is a legal document from a doctor that says no steps will be taken to restart a patient’s heart or restore their breathing in the event of cardiac or respiratory arrest (a heart attack). Your loved one must complete this form, which you can find on the Department of Human Services website, on the Division of Aging Services page.
Financial Power of Attorney – When someone is made your loved one’s financial power of attorney, that person controls your loved one’s finances if they cannot (for example, if they are in a coma). Check with an attorney to see your state’s legal guidelines and required forms on how to officially designate a financial power of Attorney.
Hospice – Hospice care is comfort care for your loved one once the doctor has estimated they have six months or less to live. Medicare usually pays for hospice.
Will – This is different from a living will. A will is a document that describes what is to be done with a person’s belongings after they have died.