Complete Your Estate Plan Today, Before It’s Too Late

Complete Your Estate Plan Today, Before It’s Too Late

By Hunter Rand, SHP

Hunter Rand is the Director of Marketing and Compliance Officer at TrustMasters, a local estate planning firm in Reno.

I’m a strong believer in estate planning. My wife and I learned just how important it is when we discovered that her grandfather’s estate plan was incomplete – and by the time we realized it, he had already passed. There was nothing we could do.

There is another moment when it also becomes too late.

In our office at TrustMasters – and in every estate planning office – the hardest conversation is when we have to turn someone away because one spouse, or a parent or other relative, no longer has legal capacity. That means a medical condition now prevents them from understanding what they are signing or making informed decisions. When that happens, they cannot legally sign documents.

This loss of capacity can come from something temporary – like alcohol or medication – or something permanent – like dementia or a stroke. As a notary, allowing someone without capacity to sign is not only unethical – it is potentially illegal.

That is why, in my personal opinion, powers of attorney can be some of the most important documents you will ever sign.

A power of attorney for healthcare and finances allows you to choose who will speak and act for you if you can’t. These documents usually “spring” into effect only after a doctor determines that you are no longer able to make decisions for yourself. Until then, they sit quietly in the background.

However if and when they are needed – they are everything.

A healthcare power of attorney allows the people you choose to speak with doctors, access medical information, and direct your care based on your wishes. You decide those wishes in advance. Do you want every possible treatment – no matter the cost or odds of survival? If you are terminal – when should care stop? These questions are answered while you are healthy – so your loved ones don’t have to guess later.

A financial power of attorney works the same way. You choose who can pay your bills, manage your accounts, sell investments, or handle other financial matters if you become incapacitated. You decide how much authority they have and what they are allowed to do.

These are deeply personal decisions. But they all share one hard truth:

Once you lose capacity – it is too late to put them in place, potentially leaving unpaid bills and critical healthcare decisions to people you might not agree with.

Planning ahead is not about expecting the worst. It is about protecting yourself and the people you love while you still have the ability to do so.