Who should be your financial agent and healthcare agent(s)? Maryland Guardianship statutes are the state’s default plan to appoint someone to make decisions for you if you can’t make them for yourself. This default plan, however, may not be the plan you would have chosen. Most importantly, Maryland statutes may give priority guardianship appointment to someone who is not the person you would have chosen. Drafting your own incapacity plan allows you to make your own choices.
Consider: 1.Who would make good financial decisions for you if you become incapacitated (your financial agent)? 2. Who would make good medical decisions for you, if you become incapacitated (your healthcare agent)?
Then consider: (1) The physical distance between you and your agent, despite the convenience of modern remote technology. Someone who lives nearby may be a better choice than someone who lives in another state or country, especially for healthcare decisions. (2) How organized is the proposed agent? Your agent will need to manage your healthcare needs, keep good records of your accounts and pay your bills in addition to managing his or her own finances and family obligations.
While you may trust many loved ones not all of them may have the capacity and organizational skills to successfully manage your affairs. Cox Law Group is prepared to answer your questions about incapacity planning and to help you choose the best health and financial agents. 410-988-3973. https://thecoxlawgroup.
