Caring for Your Aging Parents
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| | Common Incapacity Documents
| Durable Power of Attorney for Health Care
(DPAHC)/Health-Care Proxy
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| Advantages | Disadvantages | - Is flexible--allows your representative to act on
your behalf and make medical decisions based on current circumstances
- Generally, your representative can make any
decision you would be allowed to make
- Generally can be used any time you become
incompetent
| - Not practical in an emergency--your representative
must be present to act on your behalf
- Not permitted in some states
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| Living Will
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| Advantages | Disadvantages | - Allows you to convey decisions regarding your
medical care without relying on any one person to carry out your wishes
| - Generally can be used only if you are terminally
ill or injured, or in a persistent vegetative state
- Generally used only to make decisions regarding
life-sustaining treatments
- Emergency medical personnel generally cannot
withhold emergency care based on a living will
- Not permitted in some states
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| Do Not Resuscitate (DNR) Order
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| Advantages | Disadvantages | - Allows you to decline CPR if your heart or breathing
fails
- Effective in an emergency--your doctor should note
an in-hospital DNR order on your chart. Out-of-hospital DNR orders take various
forms, depending on the laws of your state. ID bracelets, MedicAlert
® necklaces, and wallet cards are some methods of noting DNR status.
| - Some states allow DNR orders only for hospitalized
patients--others do not restrict eligibility
- Only used to decline CPR in case of cardiac or
respiratory arrest
- Not permitted in some states
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| Durable Power of Attorney (DPOA)
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| Advantages | Disadvantages | - You control who acts and what they can do with your
property
- Low cost to implement
- Decreases the chance of court intervention
| - Some states do not permit a "springing" DPOA (i.e.,
a DPOA that is effective only after you have become incapacitated)
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| IMPORTANT DISCLOSURES
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
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| Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024. |
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