Mental illness is unpredictable - just like a lot of other illnesses. It can come and go, or be in an acute stage for long amounts of time. However, the person who is affected, their family and close friends, and anyone who wants to leave assets to the affected person can benefit from a well-thought out estate plan.
The two documents I highly recommend for planning for mental illness are a Power of Attorney if the person becomes unable to manage their life and finances, a Living Will and/or Advanced Health Care directive to provide guidance about the kind of care the person wants to receive, and even a special needs trust. In an ideal world, these documents would be part of a larger estate plan. However, having these in place will greatly assist you and your loved ones if a health crisis arises suddenly.
Mental Illness is illness, period. While it's impossible to predict the future and what may be needed to treat any illness, you can help yourself or a loved one receive the best care and in the best way possible by planning ahead of time. It's much easier to make these decisions when you are not in the midst of a crisis.
As someone with depression and ADHD, I know that mental health issues are often stigmatized. But the more that we talk about it openly and honestly, the more the stigma will fade. It's important to me that mental health issues are taken as seriously as physical illnesses, as the impact they can have on one's life and future can be immense. Making a plan for your own care, or the care of a loved one, is the best way to face any illness head-on while maintaining control over the care received.
Now happily accepting new potential clients who want to plan for any illness and/or health situation - book a free consultation today!
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