Raymond James & Associates, Inc. Wilmarth Private Wealth Management Steven T Wilmarth, CEP®, WMS® Managing Director 202 N. Harbor City Blvd. Suite 301 Melbourne, FL 32935 321-253-7911 877-210-0769 steve.wilmarth@raymondjames.com www.wilmarthpwm.com
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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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Raymond James & Associates, Inc., member New York Stock Exchange/SIPC
This information, developed by an independent third party, has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable for all investors. The material is general in nature. Past performance may not be indicative of future results. Raymond James does not provide advice on tax, legal or mortgage issues. These matters should be discussed with the appropriate professional.
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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024. |
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