Estate planning is about more than deciding how your property will be distributed after death. A comprehensive South Dakota estate plan can also establish who may manage your financial affairs, make health care decisions, and assist with important personal matters if you become unable to act for yourself.
General Power of Attorney
A power of attorney allows you to designate an agent to act on your behalf concerning matters authorized by the document. Depending on the powers granted, an agent may be able to handle financial transactions, manage property, conduct banking business, and take other actions for the principal.
The authority granted under a power of attorney depends on the document’s terms and applicable South Dakota law. A power of attorney may terminate upon certain events, including the principal’s death, revocation of the document, or other circumstances established by law or by the document itself.
Durable Power of Attorney
A durable power of attorney is an important tool for planning for potential incapacity. Under South Dakota law, a properly executed durable power of attorney can allow an agent’s authority to continue even if the principal later becomes incapacitated.
A durable power of attorney can help provide continuity in managing financial and property matters when you are unable to make or communicate decisions. Depending on how the document is drafted, the agent’s authority may become effective immediately or upon the occurrence of a specified event.
Because a power of attorney can provide substantial authority to another person, selecting a trustworthy agent and carefully defining the powers granted are important parts of the planning process.
Health Care Directives
Health care directives allow you to communicate your wishes regarding medical treatment and end-of-life care if you are unable to make or communicate health care decisions yourself. South Dakota law provides for advance directives and durable powers of attorney for health care.
These documents can identify an individual you trust to make health care decisions on your behalf and provide guidance concerning your treatment preferences. Having your wishes documented in advance can provide direction for family members and health care providers during difficult circumstances.
HIPAA Health Care Information Authorization
A HIPAA authorization allows you to identify individuals who may receive or access your protected health information from health care providers, subject to the terms of the authorization and applicable federal and state laws.
Including an appropriate health care information authorization with your estate plan can help ensure that designated family members or representatives can obtain information they may need when assisting with your medical care.
Guardian for Minor Children
Parents can also incorporate their wishes regarding guardianship of minor children into their estate-planning documents. A nomination or declaration regarding a preferred guardian can communicate who the parents would like to care for their children if a guardianship becomes necessary because of death or incapacity.
We can help you coordinate powers of attorney, health care directives, HIPAA authorizations, and guardianship provisions as part of a comprehensive South Dakota estate plan designed to protect you and the people you care about.
