For Those About To Go Under The Knife

I recently caught up with an old army buddy from back in the day. I was dismayed to find out that life had thrown him a curveball, and he had recently been diagnosed with cancer. Luckily they had caught it early, so his prognosis is good, but the treatment will require surgery and possibly other invasive therapies.

No matter how promising the prognosis, surgery is never 100% safe, and beating cancer is never a sure bet. But the simple mechanics of preparing for surgery can be daunting as well.

Planning for absences from work, for childcare and household responsibilities, and reviewing your estate plan may be among the things you have to worry about. And while I can’t help you with the first couple of issues, I can at least offer some thoughts on the estate planning preparations.

So, what should you do if you only have a few weeks—or even days—to react to the news that you need surgery? Who should you call? What are the specific tasks to be accomplished?

First, communication. Make sure all your loved ones are aware of the situation.

Second, call your lawyer.

You should do this to ensure all your documents are up-to-date and in line with your current assets and wishes. That may sound self serving, as I am, after all, one of those estate planning attorneys, but it truly is important to make sure your estate planning documents accurately reflect your wishes, now more than ever.

Third, once you have ensured your documents are up to date, check in with the people you’ll be relying on to carry out your wishes: the personal representatives and holders of your powers of attorney. It might also be a good idea to have a word with the heirs in your will and the named beneficiaries on any insurance policies.

This last series of communications may result in a fourth step, or rather a repeat of step two. You may find you have to talk to your attorney one more time to switch out some names.

But, what if you haven’t created these documents yet?

If you do not at least have a will or trust, and you don’t have a power of attorney and advance directive documents, get them done now. An attorney can usually draft a simple will to cover your most important assets and put together powers of attorney and a living will for you in a very timely manner. And in this situation you will want to be doubly sure to contact whoever you choose to be your healthcare power of attorney to make sure he or she is aware of your surgery, to review your wishes regarding health care decisions, and to ensure that he or she is up to the task.

What exactly do you need to do?

If it’s not a complete emergency and you have a little time, you should try to get the following items checked off your estate planning to-do list:

• Living will
• Healthcare power of attorney
• Financial power of attorney
• Medical records release (allowing the release of your medical records to other persons)
• A will, and/or
• A trust with pour-over will
• Documentation of all accounts and location of important documents, and
• Documentation of the names and contact info for your professionals (i.e. CPA, Lawyer, Financial Planner, etc.)

Short on time?

If you are short on time, you can focus down on these five key aspects of preparedness:

1. Identify key people you trust to serve on your behalf in the event you are unable to make your own wishes known. This should include at least healthcare power of attorney, financial power of attorney, and the personal representative of your estate. Make sure they are ready and willing to step in for you if you need them;
2. Clearly communicate your wishes so there is no confusion about what you would have wanted (again this can be achieved through the the will, the advanced directive process, and the powers of attorney);
3. If you have minor children, establishing a legal guardian and providing for their care is a must. This can be done through a will. (Keep in mind that while a simple will can be drafted quickly, Maryland does have specific requirements for a will to be valid, and, unfortunately, simply telling someone your wishes or even writing them out won’t cut it);
4. Make a list of your assets, their locations, and any identifying information. This will help your loved ones locate your assets, if necessary; and
5. Make sure that your attorney has copies of your documents and information, and provide his or her contact information to your loved ones so the attorney can advise and counsel them as needed.

While estate planning may be the last thing you want to do before major surgery (it is an unfortunately morbid subject after all), we are here to assist you in obtaining some peace of mind knowing that your affairs are in order.