• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Potter Law Firm

North Carolina and Kentucky Estate Planning Attorneys

phone iconNC (704) 944-3245
KY (606) 324-5516
Attend A Free Seminar - KY Attend A Free Webinar - NC/SC THIS IS AN ADVERTISEMENT

  • Home
  • About Us
    • About Our Firm
    • Attorney and Staff Profiles
  • Practice Areas
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • Pet Planning
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Nursing Home Planning
    • Veterans Benefits
  • Communities We Serve
    • Kentucky
      • Boyd County
        • Ashland
        • Florence
      • Kenton County
        • Covington
        • Fort Mitchell
        • Independence
    • North Carolina
      • Mecklenburg County
        • Charlotte
        • Davidson
        • Huntersville
  • Resources
    • Definitions
    • DocuBank
    • Elder Law
      • Elder Law Links
      • Elder Law Reports
      • Local Elder Law Resources
        • Ashland Elder Resources
        • Covington Senior Resources
        • Huntersville Elder Law Resources
        • Independence Senior Resources
    • Elder Law Reports
    • Emergency Legal Documents
    • Free Estate Planning Seminars
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • IRA & Retirement Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Pet Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Kentucky Probate Resources
      • Ashland, Kentucky Probate Resources
    • Newsletters
    • North Carolina Probate Resources
      • Huntersville, NC Probate Resources
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Elder Law Reports
      • Estate Planning for Niches
      • Trust Administration
  • Contact Us
  • BLOG
Home » Incapacity Planning » Is Incapacity Planning Really Important?

Is Incapacity Planning Really Important?

April 14, 2015 by John Potter

Is Incapacity Planning Really Important?People often go through life without planning ahead for the eventualities of aging. When you are younger, it can be hard to imagine a time when you will not be capable of doing everything that you can do right now.

Plus, there are some possibilities that are simply not very pleasant to consider, so people may avoid these subjects.

At the same time, difficult situations can be that much worse if you are completely unprepared. With this in mind, let’s look at the value of incapacity planning.

Decision Making

A very significant percentage of senior citizens ultimately become unable to handle all of their own day-to-day affairs. Most elders will need living assistance, even when they are still capable of making sound decisions. There are also those who suffer from incapacity.

There are various different causes of incapacity as we all know, but Alzheimer’s disease is a looming threat. Everyone has heard of the disease, but when you learn the facts, you may see Alzheimer’s a in a somewhat different light.

This is not something that strikes a relatively small segment of the senior population. The Alzheimer’s Association tells us that 40 to 45 percent of people who are 85 years of age and older are suffering from Alzheimer’s disease.

Is it likely that you will live into your eighties and perhaps beyond? The Census Bureau drilled down the numbers, and they found that the segment of the population that was between the ages of 85 and 94 grew faster than any other age group between the last two censuses.

The Social Security Administration website has an age expectancy calculator. If you use this calculator, you find that a man who is 65 years old today is likely to live to the age of 84. Women typically have longer lifespans than men.

When you put these facts together, you can see why incapacity planning is something that you should take seriously.

Durable Powers of Attorney

An incapacity plan is typically going to include, at a minimum, the execution of legally binding documents called durable powers of attorney. This particular type of power of attorney is used because a durable power of attorney remains in effect even if the grantor becomes incapacitated.

We are using the plural because people often execute a durable power of attorney for health care along with a durable financial power of attorney.

With these documents you name people of your own choosing to make decisions on your behalf in the event of your incapacity.

If you do nothing, the state could appoint a guardian to act on your behalf if you become unable to make sound decisions. You would no longer have the ability to choose your own representatives.

Free Consultation

Incapacity planning is important for all responsible adults. If you would like to take action, send us a message through this page to schedule a free consultation: Charlotte NC Incapacity Planning.

 

  • Author
  • Recent Posts
John Potter
Latest posts by John Potter (see all)
  • What You Need to Know about the Medicaid Look-Back Rule - January 3, 2023
  • How to Pass Down Your Legacy in Your Estate Plan - October 3, 2022
  • Practical Steps to Take after Receiving a Terminal Diagnosis - September 30, 2022

Filed Under: Incapacity Planning

Other Articles You May Find Useful

incapacity planning
Incapacity Planning is a Must for Young Adults
The Potter Law Firm
Opportunists, Predators Prey On Elderly
estate planning
Charlotte Residents Can Benefit From Early Estate Planning
The Potter Law Firm
Have You Executed A Living Will?
The Potter Law Firm
Ashland Estate Planning Attorney Explains the Benefits of a Power of Attorney
guardianship
Incapacity Planning for Guardianship Prevention

Free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Texting Permission

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Subscribe to Our Blog

  • This field is for validation purposes and should be left unchanged.

Testimonials

default image

Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

DKS & KMS Client Review August 28, 2020

default image

John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

David J. Client Review August 28, 2020

default image

My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

Jillian Client Review August 28, 2020

<< Prev
Next >>

Where We Are

Ashland

ASHLAND
1620 Carter Avenue
Ashland, KY 41101-7631
Phone: (606) 324-5516
Fax: (606) 324-4766

Charlotte

CHARLOTTE
15720 Brixham Hill Avenue
Suite 300,
Charlotte, NC 28277
Phone: (704) 944-3245

Huntersville

HUNTERSVILLE
11330 Vanstory Drive
Huntersville, NC 28078
Phone: (704) 944-3245

Northern Kentucky

NORTHERN KENTUCKY
7310 Turfway Road
Suite 550,
Florence, KY 41042
Phone: (859) 372-6655

Office Hours

Monday8:30 AM - 4:30 PM
Tuesday8:30 AM - 4:30 PM
Wednesday8:30 AM - 4:30 PM
Thursday8:30 AM - 4:30 PM
Friday8:30 AM - 3:00 PM

Map/Location

potter_sidbr_map
potter law logo
  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Privacy Policy | Terms of Service | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2023 American Academy of Estate Planning Attorneys, Inc. THIS IS AN ADVERTISEMENT