The White House has announced that Obamacare will cover breast cancer prevention drugs for women who have an increased risk of breast cancer due to age, family history or other factors. Such “chemoprevention” drugs will be covered without a co-pay or other out of pocket expense to the patient. This change has resulted from a recommendation from the U.S. Preventative Task Force, composed of independent volunteer physicians and academics, for the exact purpose of recommending which preventive services to offer patient. These preventive methods are much like estate planning, as risks are evaluated to determine what plan is necessary to mitigate or prevent an undesirable result. If you are at “risk” for sickness, incapacitation, or death, you will benefit from the following documents:
1. Living Trust – the best way to maintain control over all of your assets and distributions, while avoiding the hassle, expense, and lack of privacy associated with probate.
2. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.
3. Last Will & Testament – this is your traditional will that is used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children.
4. Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated.
5. Combination Living Will & Designation of Healthcare Surrogate – this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself.
While you often cannot prevent incapacitation or death, you can always be prepared for it! For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.
It’s a Wild world. Are you protected?S